IRVINE, CA / ACCESSWIRE / February 24, 2017 / Khang & Khang LLP (the "Firm") announces the filing of a class action lawsuit against Inotek Pharmaceuticals Corporation ("Inotek" or the "Company") (ITEK). Investors, who purchased or otherwise acquired shares between July 23, 2015 and December 30, 2016 inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the March 7, 2017 lead plaintiff motion deadline.
If you purchased shares of Inotek during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at email@example.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint states that on July 23, 2015, Inotek disclosed a successful End of Phase 2, mentioning that the Company is in the "final preparation stages to begin its first Phase 3 trial in 4Q and look forward to data in 2016." Inotek predicted a successful end for the Phase 3 trabodenoson trial, causing the company's share price to inflate greatly to $15.37 per share on July 23, 2015. Inotek's Form 10-K filing also suggested to investors that trabodenoson would be successful, as it holds an impressive safety record contrasted to similar glaucoma treatments.
However, the Complaint maintains that Inotek officials were told a section of the clinical trial of trabodenoson would not meet its primary objective of decreasing intraocular pressure compared with the placebo. Inotek revealed on January 3, 2017 that the initial pivotal Phase 3 trial of trabodenoson to treat open-angle glaucoma or ocular hypertension failed, in comparison to the placebo, in its primary objective of superiority in the reduction of intraocular pressure.
When this information was revealed to the public, the value of Inotek stock dropped, causing investors harm.
If you wish to learn more about this lawsuit, at no charge, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
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Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP