A Deadline is coming up on March 7, 2017 in the lawsuit for certain investors in Inotek Pharmaceuticals Corp (NASDAQ:ITEK) and NASDAQ:ITEK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/20/2017 -- The Shareholders Foundation announces that a deadline is coming up on March 7, 2017 in the lawsuit filed for investors of Inotek Pharmaceuticals Corp (NASDAQ:ITEK) over alleged securities laws violations by Inotek Pharmaceuticals Corp.
Investors who purchased shares of Inotek Pharmaceuticals Corp (NASDAQ:ITEK) have certain options and there are strict and short deadlines running. Deadline: March 7, 2017. NASDAQ:ITEK stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges on behalf of purchasers of Inotek Pharmaceuticals Corp (NASDAQ:ITEK) common shares between July 23, 2015 and December 30, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 23, 2015 and December 30, 2016. Inotek Pharmaceuticals Corp misrepresented the efficacy of its drug candidate trabodenoson—the only drug Inotek Pharmaceuticals Corp 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 Inotek Pharmaceuticals Corp 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.
Lexington, MA based Inotek Pharmaceuticals Corp is a clinical-stage biopharmaceutical company that is focused on the discovery, development and commercialization of therapies for glaucoma and other diseases of the eye.
On January 3, 2017, Inotek Pharmaceuticals Corp announced top-line results of MATrX-1, the first pivotal Phase 3 trial of trabodenoson for the treatment of primary open-angle glaucoma (POAG) or ocular hypertension (OHT). Inotek Pharmaceuticals Corp said that the trial did not achieve its primary endpoint of superiority in reduction of intraocular pressure (IOP) compared with placebo at all 12 time points.
Shares of Inotek Pharmaceuticals Corp (NASDAQ:ITEK) declined from $7.40 per share on December 23, 2016 to as low as $1.65 per share on January 3, 2017.
On February 17, 2017, NASDAQ:ITEK shares closed at $1.62 per share.
Those who purchased shares of Inotek Pharmaceuticals Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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