LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it is investigating potential claims on behalf of investors of Vital Therapies, Inc. (“Vital” or the “Company”) (NASDAQ:VTL) concerning the Company’s and its officers’ possible violations of federal securities laws. The investigation concerns whether the Company misled investors regarding the future prospects of Vital’s ELAD system for the treatment of liver disease. GPM is preparing a lawsuit to recover damages on behalf of Vital investors.
On July 14, 2015, an analyst report published in Seeking Alpha alleged that the Company misled investors regarding the ELAD systems patients’ overall survival rate, as Vital included survival data from a patient who received a liver transplant, while no equivalent patient in the control group had received a transplant. This fact was not disclosed in any of the company’s prior disclosures. After the publication of this report undermining the Company’s clinical data, Vital shares fell $3.61 per share, or 14%, to close on July 15, 2015 at $23.10, thereby damaging investor.
Then on August 21, 2015, the Company announced topline results from its ELAD systems VTI-208 study, and reported that the study, “failed to achieve primary or secondary endpoints of improvement in overall survival.” On this news, the Company’s shares fell $13.55 per share, or over 76%, during intra-day trading on August 24, 2015.
If you purchased Vital shares, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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