NEW YORK, June 26, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces today that a class action lawsuit has been filed on behalf of all purchasers of the securities of Endocyte, Inc. (ECYT) during the period between March 21, 2014 and May 2, 2014, seeking to recover investors' losses.
To join the Endocyte class action, visit the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
Endocyte is a biopharmaceutical company that develops targeted therapies for the treatment of cancer and inflammatory diseases in the United States. According to the lawsuit, defendants issued misleading statements during the Class Period regarding the efficacy of Endocyte's experimental drug, VYNFINIT(R), and misrepresented or failed to disclose material information concerning the Company's business and financial prospects.
On May 2, 2014, Endocyte revealed that VYNFINIT was ineffective in treating platinum-resistant ovarian cancer, based on certain testing methods known as response evaluation criteria in solid tumors, or "RECIST." In reaction to this news, the price of Endocyte stock dropped $10.76 per share, or over 60%, to close at $6.62 per share on May 2, 2014 on unusually heavy trading volume, damaging investors. Subsequently, the Company announced that it would withdraw its application to market VYNFINIT in Europe.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 25, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe. This notice may constitute attorney advertising.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866-767-3653
Fax: (212) 202-3827