Inotek Pharmaceuticals Corporation
Period: Jul 23, 2015 to Dec 30, 2016
Lead Plaintiff Deadline: Mar 7, 2017 + Deadline passed
Summary of Case:
A securities class action has been filed against Inotek Pharmaceuticals Corporation (NASDAQ: ITEK) on behalf of shareholders of Inotek who purchased or otherwise acquired shares between July 23, 2015 and December 30, 2016. This case has been filed in the USDC - District of Massachusetts.
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 U.S. Food and Drug Administration. In particular, it is alleged that 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, shares of Inotek fell from a closing price of $6.10 on December 30, 2016, to a closing price of of $1.75 per share on January 3, 2017. If you suffered a loss in Inotek you have until March 7, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.