A lawsuit was filed on behalf of investors in Edge Therapeutics, Inc. (NASDAW:EDGE) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/09/2018 -- An investor, who purchased NASDAW:EDGE shares, filed a lawsuit over alleged violations of Federal Securities Laws by Edge Therapeutics, Inc.
Investors who purchased shares of Edge Therapeutics, Inc. (NASDAW:EDGE) have certain options and for certain investors are short and strict deadlines running. Deadline: June 22, 2018. NASDAW:EDGE investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On March 28, 2018, Edge Therapeutics disclosed, "that a pre-specified interim analysis on data from the Day 90 visit of the first 210 subjects randomized and treated in the Phase 3 NEWTON 2 study of EG-1962 demonstrated a low probability of achieving a statistically-significant difference compared to the standard of care in the study's primary endpoint, if the study is fully enrolled." As a result, the Data Monitoring Committee "recommended that the study be stopped based on its conclusion that the study has a low probability of meeting its primary endpoint." Based on the DMC recommendation, Edge Therapeutics stated that it has decided to discontinue the Phase 3 NEWTON 2 study.
The plaintiff claims that between December 29, 2017 and March 27, 2018, the Defendants failed to disclose that the Company's lead product candidate EG-1962 would likely fail a futility analysis in connection with the NEWTON 2 study, and that, as a result of the foregoing, the Company's financial statements and Defendants' statements about Edge's business, operations, and prospects, were materially false and misleading at all relevant times.
Those who purchased shares of Edge Therapeutics, Inc. (NASDAW:EDGE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego