BOSTON, July 16, 2015 /PRNewswire/ -- Shares in Vital Therapies, Inc. ("Vital Therapies" or the "Company") (NASDAQ : VTL ) plunged yesterday on a report that the Company has misled investors regarding the Phase 2 VTI-206 study of its Extracorporeal Liver Assist Device ("ELAD"), a biological liver dialysis technology. Specifically, an analyst report published in Seeking Alpha on July, 14, 2015 believed that the Company's representations regarding the 90 day overall survival rate for those treated with ELAD were "highly misleading," as they included survival data from a patient who received a liver transplant, while no equivalent patient in the control group had received a transplant. This fact was not disclosed in any of the company's prior disclosures. After the publication of this report, shares of the Company plunged approximately 16%, representing a loss of value of roughly $85 million on July 15, 2015. Vital Therapies shares continued to fall on Thursday, July 16, 2015.
Block & Leviton LLP is investigating whether Vital Therapies and certain of its officers and directors have violated the federal securities law in connection with the Company's representations regarding the results of its Phase 2 VTI-206 study.
If you purchased Vital Therapies stock between April 17, 2014 and July 14, 2015 and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Mark Delaney of Block & Leviton LLP at (617) 398-5600 or at Mark@blockesq.com. Confidentiality to any whistleblowers or other persons with information relevant to the investigation is assured.
Block & Leviton is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 80 years. This notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Mark A. Delaney
SOURCE Block & Leviton LLP