NewLink investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, NewLink, a biopharmaceutical company, focuses on discovering, developing, and commercializing immunotherapeutic products to enhance treatment options for patients with cancer.
The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (i) algenpantucel-L was ineffective and potentially harmful to patients; and (ii) as a result of the foregoing, NewLink’s public statements were materially false and misleading at all relevant times.
The Class Period commences on September 17, 2013, when NewLink announced the completion of patient enrollment in the company’s Phase algenpantucel-L “IMPRESS” clinical study.
According to the complaint, on May 9, 2016, post-market, NewLink announced that algenpantucel-L did not meet the main goal in the Company’s Phase 3 IMPRESS study. Patients treated with algenpantucel-L lived for a median of 27.3 months in NewLink’s Phase 3 trial, compared to median survival of 30.4 months for patients treated with standard therapy, suggesting that patients were actually harmed by NewLink’s treatment.
Following this news, NewLink’s stock price fell $5.05, or 30.61%, to close at $11.45 on May 10, 2016.
If you are a member of the class described above, you may no later than July 11, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
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