NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Prothena Corporation ("Prothena") (NASDAQ: PRTA) securities between October 15, 2015 and April 20, 2018.
Click here to learn about the case: http://www.wongesq.com/pslra-c/prothena-corporation-2?wire=2. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose that: (1) relevant trial data showed that Prothena’s antibody NEOD001, designed to treat amyloid light chain amyloidosis (“AL amyloidosis”), was not an effective treatment; (2) the Company made misleading comparisons of NEOD001’s “best response” rates against certain prior studies; and (3) the Company touted Prothena’s ongoing Phase 1/2 study of NEOD001 as providing a strong basis for late-stage Phase 2b and Phase 3 studies of NEOD001, even though the full Phase 1/2 study data demonstrated that NEOD001 was not an effective treatment.
On October 15, 2015, Prothena announced its late-stage Phase 2b “PRONTO” study and expansion of its Phase 1/2 clinical trial for the antibody NEOD001. On April 23, 2018, Prothena announced it was ending development of NEOD001 after its Phase 2b PRONTO trial failed to reach either its primary or secondary endpoints. Following this news, shares of Prothena fell from a close of $36.84 on April 20, 2018, to a close of $11.50 per share on April 23, 2018.
If you suffered a loss in Prothena you have until July 16, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-c/prothena-corporation-2?wire=2.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.