The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the lack of efficacy of the Company's contraceptive patch, Twirla, and by misrepresenting Twirla's potential to obtain U.S. Food and Drug Administration ("FDA") approval.
Specifically, during aftermarket hours on January 3, 2017, Agile revealed data from its Phase 3 SECURE study evaluating Twirla. Among the results, the Company stated that 51.4% of subjects had withdrawn from the study and that 1.7% of test subjects suffered "serious adverse events." After the announcement, Agile's share price fell from $5.00 per share on January 3, 2017 to a closing price of $2.63 on January 4, 2017—a $2.37 or a 47.40% drop.
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If you invested in Agile stock or options between March 9, 2016 and January 3, 2017 and would like to discuss your legal rights, visit www.faruqilaw.com/AGRX. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Agile's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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Attn: Richard Gonnello, Esq.
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