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Shareholder Class Action Filed Against ProNAi Therapeutics Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired ProNAi Therapeutics Inc. (“Pronai”) (NASDAQ: DNAI) common stock between July 15, 2015 and June 6, 2016, inclusive (the “Class Period”).

Pronai investors may receive additional information about the case by clicking the link "Join this Class Action" above. 


According to the complaint, Pronai is a clinical stage oncology company with a focus on pioneering a novel class of therapeutics based on its proprietary DNA interference technology platform. Until recently, the company had only one product candidate – PNT2258, which was purportedly designed to target cancers that overexpress B-cell lymphoma such as Hodgkin’s lymphomas and non-Hodgkin lymphoma.

The complaint alleges that since July 15, 2015, Pronai and certain of its officers and directors have misrepresented the efficacy and safety of PNT2258, and the drug’s purported attendant capacity for approval by the FDA.  Specifically, the complaint alleges that the defendants’ statements were materially false and misleading because PNT2258 was not, and never would be, an effective treatment for Diffuse Large B-Cell Lymphoma (“DLBCL”).

According to the complaint, investors ultimately learned the truth that PNT2258 was not an effective treatment for DLBCL when, on June 6, 2016, the company issued a press release announcing interim data for the two Phase 2 trials and revealed that PNT2258 had failed to produce sufficient efficacy results to justify its continued clinical development.

Following this news, the price of Pronai common stock declined from a closing share price of $6.38 per share on June 3, 2016 to close at $2.07 per share on June 6, 2016 a loss of more than 67%, on heavy trading volume.

If you are a member of the class described above, you may no later than January 9, 2017 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 info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for ProNAi Therapeutics Inc. (NASDAQ: DNAI) common stock between July 15, 2015 and June 6, 2016, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of ProNAi Therapeutics Inc. prior to the class period?
Are you a current or former employee of ProNAi Therapeutics Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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