BERWYN, Pa., Jan. 27, 2017 /PRNewswire/ -- RM LAW, P.C. announces that a class action lawsuit has been filed in United States District Court for the District of New Jersey on behalf of all persons or entities that purchased Agile Therapeutics, Inc. ("Agile" or the "Company") (NASDAQ: AGRX) securities between March 9, 2016 and January 3, 2017, inclusive (the "Class Period").
Agile shareholders may, no later than March 7, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Agile and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, visit: www.maniskas.com.
Agile, a specialty pharmaceutical company, focuses on the development and commercialization of prescription contraceptive products for women.
The Complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that (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 48% on January 4, 2017, closing at $2.63/share, down $2.37/share.
If you are a member of the class, you may, no later than March 7, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at firstname.lastname@example.org or visit: www.maniskas.com. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website: www.maniskas.com.
RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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SOURCE RM LAW, P.C.