San Diego, CA -- (SBWIRE) -- 11/28/2016 -- An investor, who purchased shares of ProNAi Therapeutics Inc (NASDAQ:DNAI), filed a lawsuit in New York over alleged violations of Federal Securities Laws by ProNAi Therapeutics Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of ProNAi Therapeutics Inc (NASDAQ:DNAI) have certain options and for certain investors are short and strict deadlines running. Deadline: January 9, 2017. NASDAQ:DNAI investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff claims that ProNAi Therapeutics Inc made allegedly materially false and misleading statements about the potential and efficacy of its drug product candidate PNT2258 in the company's public filings, which caused ProNAi's stock price to be artificially inflated between July 15, 2015 and June 6, 2016, thus harming investors.
On June 6, 2016, ProNAi Therapeutics Inc (NASDAQ:DNAI announced interim results from the Wolverine Phase 2 trial of PNT2258 for the treatment of relapsed or refractory (r/r) diffuse large B-cell lymphoma (DLBCL). ProNAi Therapeutics Inc's President and CEO Nick Glover said, "Although [PNT2258] observed modest efficacy …in [the] interim analysis of Wolverine," the Company has "decided to suspend the development of PNT2258" because the results were not "robust enough to justify continued development of the drug in DLBCL."
Shares of ProNAi Therapeutics Inc (NASDAQ:DNAI) declined from $6.70 per share on June 2, 2016, to $1.98 per share on June 10, 2016.
Those who purchased shares of ProNAi Therapeutics Inc have certain options and should contact the Shareholders Foundation.
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