SAN DIEGO and MEMPHIS, Tenn., Aug. 29, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating claims on behalf of investors of GTx, Inc. (NASDAQ: GTXI) ("GTx"). GTx develops and commercializes small molecules for the treatment of cancer, cancer supportive care, and other serious medical conditions.
GTx Reports Disappointing Results for Enobosarm Trials
Robbins Arroyo's investigation concerns whether GTx's officers and directors made misleading statements to the investing public. On August 19, 2013, GTx announced the results of two of its Phase III enobosarm clinical trials. Enobosarm was developed to prevent and treat muscle wasting in patients with non-small cell lung cancer. GTx announced that the clinical trials for enobosarm failed to meet the goals of improving body mass and physical function in cancer patients, as agreed upon with the U.S. Food and Drug Administration. On this news, GTx stock declined $2.72, or nearly 66%, to close at $1.43 on August 19, 2013.
If you invested in GTx and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, firstname.lastname@example.org, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsarroyo.com.
Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/gtx-inc/
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SOURCE Robbins Arroyo LLP