NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Edge Therapeutics, Inc. (NASDAQ: EDGE) securities between December 29, 2017 and March 27, 2018 (the “Class Period”). Investors have until June 22, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On March 28, 2018, Edge Therapeutics disclosed, "that a pre-specified interim analysis on data from the Day 90 visit of the first 210 subjects randomized and treated in the Phase 3 NEWTON 2 study of EG-1962 demonstrated a low probability of achieving a statistically-significant difference compared to the standard of care in the study's primary endpoint, if the study is fully enrolled." As a result, the Data Monitoring Committee "recommended that the study be stopped based on its conclusion that the study has a low probability of meeting its primary endpoint."
Following this news, shares of Edge Therapeutics fell $14.28 per share, or almost 92%, to close at $1.31 per share on March 28, 2018.
The complaint alleges that Defendants failed to disclose: (1) that the Company's lead product candidate EG-1962 would likely fail a futility analysis in connection with the NEWTON 2 study; and, (2) that, as a result of the foregoing, the Company's financial statements and Defendants' statements about Edge's business, operations, and prospects, were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Edge Therapeutics securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Edge Therapeutics, Inc. lawsuit, please go to http://www.bespc.com/edge. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.