NEW YORK, NY / ACCESSWIRE / November 15, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Aptinyx Inc. ("Aptinyx" or the "Company") (APTX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Aptinyx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
In June 2018, Aptinyx completed its initial public offering ("IPO") of common stock, selling over 7.3 million shares of stock priced at $16.00 per share, for gross proceeds of over $117 million. Then, on January 16, 2019, Aptinyx announced top-line results from a Phase 2 clinical study of NYX-2925, the Company's proposed treatment of painful diabetic peripheral neuropathy, and disclosed that "NYX-2925 did not demonstrate statistically significant separation from placebo on the primary endpoint, change in subjects' average daily pain scores on the Numerical Rating Scale (NRS) during the final treatment week compared to baseline."
On this news, Aptinyx's stock price fell $11.85 per share, or 66.46%, to close at $5.98 per share on January 16, 2019. Since the IPO, Aptinyx's stock price has closed as low as $2.84 per share, representing a decline of more than 82% from the offering price.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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