LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Adamas Pharmaceuticals, Inc. (“Adamas” or the “Company”) (NASDAQ: ADMS) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On March 4, 2019, Adamas revised previous prescription growth estimates for GOCOVRI, the Company’s primary product, warned of a continued slowdown in GOCOVRI prescriptions, and refused to predict GOCOVRI’s ability to achieve a sizeable market share.
On this news, Adamas’ share price fell $3.99 per share, or more than 32%, to close at $8.16 per share on March 5, 2019, thereby injuring investors.
Then, on September 30, 2019, an analyst lowered its rating on Adamas due to “existing overhangs,” including lack of “Gocovri coverage: a number of national formularies exclude Gocovri.” The analyst “expect[ed] reimbursement hurdles in MSWI space especially with generic Ampyra launch.”
On this news, Adamas’ share price fell $3.02 per share, or more than 42%, over several trading sessions to close at $4.03 per share on October 3, 2019, thereby injuring investors further.
If you purchased Adamas securities, 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 Charles H. Linehan, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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