The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Agile Therapeutics, Inc. In...
January 10 2017 - 1:26PM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
Agile Therapeutics, Inc. (“Agile” or the “Company”) (NASDAQ: AGRX)
securities between March 9, 2016 and January 3, 2017,
inclusive (the “Class Period”).
Investors suffering losses on their Agile investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email
to howardsmith@howardsmithlaw.com.
The complaint filed in this lawsuit alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts
about the Company’s business, operations, and prospects.
Specifically, Defendants failed to disclose: (1) that the Twirla
contraceptive patch had an efficacy rating that fell below peer
group standards; (2) that over half of patients in its “Secure”
Phase 3 Study discontinued the study early; (3) that the Twirla
patch therefore allegedly had a slight chance of FDA approval; and
(4) that, as a result of the foregoing, Defendants’ statements
about Agile’s business, operations, and prospects, were false and
misleading and/or lacked a reasonable basis.
On January 3, 2017, Agile disclosed statistical information
pertaining to its Phase 3 SECURE study analyzing the Company’s
combined hormonal contraceptive patch Twirla. The study, which was
initiated at the request of the FDA, comes after the FDA rejected
Agile's initial marketing application back in 2013. The Company
cited "positive top-line results" in the study, yet reported an
efficacy measure that failed to meet the standard set by other
approved contraceptive patches. Additionally, 51.4% of
subjects opted to discontinue the study.
On this news, Agile stock fell nearly 64% during intraday
trading on January 4, 2017.
If you purchased shares of Agile during the Class Period you may
move the Court no later than March 7, 2017 to ask
the Court to appoint you as lead plaintiff if you meet certain
legal requirements. To be a member of the Class you need not take
any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you
wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110006177/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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