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OCUL Investors Update: Hagens Berman Alerts Investors in Ocular Therapeutix, Inc. to Expanded Class Period in Pending Securities Class Action, Reminds Them of the September 5, 2017 Lead Plaintiff Dead
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PR Newswire
SAN FRANCISCO, July 25, 2017
SAN FRANCISCO, July 25, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in Ocular Therapeutix, Inc. (NASDAQ: OCUL) to the expanded class period in the pending securities class action. The new class period is May 5, 2017 through July 11, 2017. The Lead Plaintiff deadline remains September 5, 2017.
If you purchased or otherwise acquired securities of OCUL between May 5, 2017 and July 11, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing OCUL@hbsslaw.com.
On June 6, 2017, SeekingAlpha published an article entitled "Ocular: A Poke In The Eye." The author highlighted uncertainty that OCUL would receive the FDA's approval for OCUL's Dextenza drug because of ongoing manufacturing issues that management previously told investors were- or would be- corrected. This news drove the price of OCUL shares down $2.38, or approximately 25%, to close at $7.12 per share on July 7, 2017.
Subsequently, on July 11, 2017, STAT published an article entitled "FDA rejects Ocular Therapeutix eye drug, citing manufacturing issues." According to the article, OCUL failed for a second time to secure approval of its eye drug Dextenza. More specifically, "[o]n Tuesday, the FDA rejected the drug, citing unresolved problems with manufacturing and quality control testing." This news drove the price of OCUL shares down approximately $0.93, or over 12%, to close at $6.67 on July 12, 2017.
Then, on July 14, 2017, SeekingAlpha published an article entitled "Ocular's Poke In The Other Eye" in which the author discussed the Company's apparent failures to sufficiently inform investors that, with respect to clinical trials for another drug product candidate (OTX-TP), it changed the primary endpoint. This news drove the price of OCUL shares down $0.33, or approximately 5%, to close at $6.33 that day.
"We're focused on management's earlier statements that manufacturing problems were- or would be- fixed, the recent news which appears to contradict those statements, and whether Defendants sufficiently informed investors of the primary endpoint change for the OTX-TP drug," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding OCUL should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email OCUL@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
View original content with multimedia:http://www.prnewswire.com/news-releases/ocul-investors-update-hagens-berman-alerts-investors-in-ocular-therapeutix-inc-to-expanded-class-period-in-pending-securities-class-action-reminds-them-of-the-september-5-2017-lead-plaintiff-deadline-and-updates-them-about-p-300493593.html
SOURCE Hagens Berman Sobol Shapiro LLP
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