NEW YORK, June 25, 2014
NEW YORK, June 25, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Endocyte, Inc. ("Endocyte" or the "Company") (NASDAQ: ECYT). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Endocyte and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 2, 2014 the Company announced that VYNFINIT® used to treat platinum-resistant ovarian cancer ("PROC") with VYNFINIT® using testing methods known as response evaluation criteria in solid tumors ("RECIST"), was found ineffective in the treatment of PROC based on RECIST 1.1.
On this news, shares of Endocyte fell $10.76, or more than 61.91%, on intraday trading to a price of $6.62 on May 2, 2014.
On May 19, 2014, the company announced that it would withdraw its application to sell VYNFINIT® in Europe.
On this news, shares of Endocyte fell $0.39, or more than 6%, on intraday trading to a price of $6.10 on May 20, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP