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Inotek Pharmaceuticals Corporation (ITEK)

NASDAQ:ITEK

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Inotek Pharmaceuticals Corporation To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Inotek Pharmaceuticals Corporation (“Inotek” or the “Company”) (NASDAQ:ITEK) of the March 7, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all those who purchased Inotek common stock between July 23, 2015 and December 30, 2016 (the “Class Period”).  The case, Whitehead v. Inotek Pharmaceuticals Corporation et al, No. 1:17-cv-10025 was filed on January 6, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by misrepresenting the efficacy of its lead drug candidate for glaucoma and the only product it is currently developing in its pipeline, trabodenoson; and its attendant capacity to receive New Drug Approval by the U.S. Food and Drug Administration.  Specifically, the lawsuit alleges that Inotek made positive statements about trabodenoson despite knowledge that the MATrX-1 phase 3 clinical trial would fail to meet its primary endpoint.

Then, pre-market on January 3, 2017, Inotek issued a press release announcing that the first pivotal Phase 3 trial of trabodenoson failed to reach its primary endpoint of superiority in the reduction of intraocular pressure compared with placebo at all twelve (12) time points.

After the announcement, Inotek’s share price fell from $6.10 per share on December 30, 2016 to a closing price of $1.75 on January 3, 2017—a $4.35 or a 71.31% drop.

Take Action

If you invested in Inotek stock or options between July 23, 2015 and December 30, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Inotek’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Inotek Pharmaceuticals Corporation (ITEK)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/06/2017

Send Information

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