BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming November 20, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired NextCure, Inc. (“NextCure” or the “Company”) (NASDAQ: NXTC) (a) securities between November 5, 2019 and July 14, 2020, inclusive (the “Class Period”); and/or (b) common stock pursuant or traceable to NextCure’s November 2019 secondary public offering (“SPO” or the “Offering”).
On January 13, 2020, NextCure disclosed that Eli Lilly and Company had ended its collaboration agreement for the research and development of the Company’s leading product candidate, NC318, a first-in-class immunomedicine targeting the Siglec-15 immunomodulatory receptor particularly for patients with advanced or metastatic solid tumors.
On this news, NextCure’s share price fell $4.70, or 8%, to close at $52.00 per share on January 13, 2020, thereby injuring investors.
Then, on July 13, 2020, before the market opened, NextCure announced that it was no longer planning to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial.” The same day, the Company announced that its Chief Medical Officer resigned.
On this news, NextCure’s share price fell $9.73, or 54%, to close at $8.15 per share on July 13, 2020, thereby injuring investors further.
The complaint filed alleges that Defendants made materially 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 to investors that: (1) NextCure possessed NC318 data that showed a lack of efficacy and objective responses; (2) as a result, NC318 was not, in fact, effective in treating most tumor types; (3) as a result, the NC318 application was proving to be limited (if even useful at all); (4) as a result of the foregoing, there was a significant realizable risk that NC318 would not be nearly as popular as then-existing blockbuster drugs, such as Keytruda.
If you purchased NextCure securities or common stock, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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