Cases
Inotek Pharmaceuticals Corporation (NASDAQ: ITEK)
Securities Class Action
Overview
Overview
- Date:
- 2/27/2017
- Company Name:
- Inotek Pharmaceuticals Corporation
- Stock Symbol:
- ITEK
- Class Period:
- FROM 7/23/2015 TO 12/30/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Massachusetts
NEW YORK, February 27, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Massachusetts District Court on behalf of all persons or entities who acquired Inotek Pharmaceuticals Corporation (NASDAQ: ITEK) securities between July 23, 2015 and December 30, 2016 (the “Class Period”).
The Complaint alleges that throughout the Class Period, Inotek misrepresented the efficacy of its drug candidate trabodenoson – the only drug Inotek currently has in its clinical development pipeline – and its attendant capacity to receive New Drug Approval by the FDA. In particular, it is alleged that the Company made positive statements about the drug despite knowledge that the MATrX-1 Phase 3 clinical trial of trabodenoson would fail to meet its primary endpoint of statistical relevance in the reduction of intraocular pressure compared with placebo.
On January 3, 2017, Inotek announced that the Phase 3 trial of trabodenoson had failed to achieve this primary endpoint. Following this news, Inotek shares declined $4.35, or over 71.3%, per share on January 3, 2017.
If you acquired Inotek securities during the Class Period, 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 Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period, Inotek misrepresented the efficacy of its drug candidate trabodenoson – the only drug Inotek currently has in its clinical development pipeline – and its attendant capacity to receive New Drug Approval by the FDA. In particular, it is alleged that the Company made positive statements about the drug despite knowledge that the MATrX-1 Phase 3 clinical trial of trabodenoson would fail to meet its primary endpoint of statistical relevance in the reduction of intraocular pressure compared with placebo.
On January 3, 2017, Inotek announced that the Phase 3 trial of trabodenoson had failed to achieve this primary endpoint. Following this news, Inotek shares declined $4.35, or over 71.3%, per share on January 3, 2017.
If you acquired Inotek securities during the Class Period, 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 Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.