NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of NextCure, Inc. (NASDAQ: NXTC) between November 5, 2019 and July 14, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for NextCure investors under the federal securities laws.
To join the NextCure class action, go to http://www.rosenlegal.com/cases-register-1952.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
The complaint alleges that Defendants violated provisions of the Exchange and Securities Acts by misleading investors regarding its leading treatment candidate, NC318. Specifically, the complaint alleges that statements made by Defendants concerning the effectiveness of NC318, the responses observed in patients treated with NC318, and NC318’s potential to treat patients’ refractory to PD-1 therapies were false and misleading.
NextCure had been developing NC318 using proceeds from a 2018 research and development collaboration agreement with Eli Lilly. On January 13, 2020, NextCure announced that Eli Lilly had ended its deal with the Company. Following this news, NextCure’s stock plunged, falling $4.70 per share, or approximately 8.3%, to close at $52.00 per share on January 13, 2020.
Then, pre-market on July 13, 2020, NextCure provided an interim update on the Phase 2 portion of its NC318 Monotherapy Phase 1/2 Trial, revealing that the Company was no longer planning to advance the non-small cell lung cancer and ovarian cancer cohorts in the Stage 2 portion of the Simon 2-stage trial, citing clinical response data and current enrollment criteria. The Company also announced the resignation of its Chief Medical Officer.
On this news, NextCure’s shares, which had closed at $17.88 per share on Friday, July 10, 2020, dropped over 54% on the next trading day, to close at $8.15 per share on July 13, 2020, on unusually high trading volume.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 20, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1952.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.