Levi & Korsinsky, LLP announces it has filed a class action complaint in the USDC for the Southern District of New York on behalf of Neurotrope, Inc. (NASDAQ: NTRP) shareholders who purchased shares between January 7, 2016, and April 28, 2017.
The complaint alleges that, throughout the class period, Neurotrope issued materially false and misleading statements and/or failed to disclose material information concerning the efficacy of its lead product candidate, Bryostatin-1. On May 1, 2017, Neurotrope issued a press release announcing “positive top-line results” of the pivotal Phase 2b trials of Bryostatin-1, noting “improvement in patients with moderate to severe Alzheimer’s disease.” However, the underlying trial data contradicts these representations, as the top-line data relating to the 20 microgram dose of Bryostatin-1 failed to produce results that were statistically significant. In addition, Neurotrope failed to disclose statements regarding the efficacy of the 40 microgram dose with regard to its primary and secondary endpoints. Upon this news, shares of Neurotrope fell from a close of $18.81 on April 28, 2017, to a close of $6.97 per share on May 1, 2017.
If you suffered a loss in Neurotrope you have until July 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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