BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming July 11, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased NewLink Genetics Corporation (“NewLink” or the “Company”) (NASDAQ: NLNK) securities between September 17, 2013 and May 9, 2016, inclusive (the “Class Period”). NewLink investors have until July 11, 2016 to file a lead plaintiff motion.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about NewLink’s business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's algenpantucel-L treatment was ineffective and potentially harmful to patients; and (ii) as a result of the foregoing, NewLink's public statements were materially false and misleading at all relevant times.
On May 9, 2016, post-market, NewLink disclosed that the Company's experimental pancreatic cancer immunotherapy algenpantucel-L failed to satisfy the main purpose of a late-stage study. Patients treated with algenpantucel-L lived for a median of 27.3 months in NewLink's phase III trial, compared to median survival of 30.4 months for patients treated with conventional therapy. And, these trial results demonstrate that patients might have actually been hurt by NewLink's treatment.
On this news, shares of NewLink fell $5.05 per share, or over 30%, to close on May 10, 2016 at $11.45 per share.
If you purchased NewLink shares, you may move the Court no later than July 11, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.