NEW YORK, June 25, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Endocyte, Inc. ("Endocyte" or the "Company") (ECYT) concerning whether the board has breached its fiduciary duties to shareholders or violated the federal securities laws.
For years Endocyte has been conducting studies of a therapy for ovarian cancer called "RECIST." In March 2014, the Company announced positive news regarding the efficacy and prospects for market approval of RECIST. Endocyte stock climbed nearly 100% on this news. The Company took advantage of the increase in stock price by conducting a public offering of over 5 million shares that raised over $100 million.
A mere month later, the Company shocked investors by disclosing that an important group of experts monitoring the safety and efficacy of RECIST had determined the therapy was wholly ineffective and did not slow progress of the cancer.
Our investigation concerns whether the Company's officers and directors should be liable for the harm to Endocyte. If you own Endocyte shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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