LOS ANGELES--(BUSINESS WIRE)--National securities law firm Glancy Prongay & Murray LLP (“GPM”) reminds investors of the June 22, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Edge Therapeutics, Inc. (“Edge Therapeutics” or the “Company”) (NASDAQ: EDGE) securities between December 29, 2017 and March 27, 2018, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
Investors suffering losses on their Edge Therapeutics investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, 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.
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.” Based on the DMC recommendation, Edge Therapeutics stated that it has decided to discontinue the Phase 3 NEWTON 2 study.
On this news, shares of Edge Therapeutics fell $14.28 per share, or nearly 92%, to close at $1.31 per share on March 28, 2018, thereby injuring investors.
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If you purchased shares of Edge Therapeutics during the Class Period you may move the Court no later than June 22, 2018 to ask the Court to appoint you as lead. 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 Lesley Portnoy, 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 email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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