NEW YORK, June 16, 2017 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against TherapeuticsMD, Inc. ("TherapeuticsMD" or the "Company") (NYSE: TXMD) and certain of its officers. The class action, filed in United States District Court, Southern District of Florida, and docketed under 17-cv-80720, is on behalf of a class consisting of investors who purchased or otherwise acquired TherapeuticsMD securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased TherapeuticsMD securities between July 7, 2016 and May 7, 2017, both dates inclusive, you have until June 19, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
TherapeuticsMD is a women's health care company focused on creating and commercializing products targeted exclusively for women. The Company is focused on pursuing regulatory approvals and pre-commercialization activities necessary for the commercialization of its advanced hormone therapy pharmaceutical products.
One of TherapeuticsMD's leading product candidates is TX-004HR. On July 7, 2016, the Company announced that it had filed its New Drug Application ("NDA") for TX-004HR with the U.S. Food and Drug Administration. The NDA seeks approval of TX-004HR for the treatment of moderate-to-severe vaginal pain during sexual intercourse (dyspareunia), a symptom of vulvar and vaginal atrophy due to menopause.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's NDA submission for TX- 004HR was deficient; (ii) the Company's NDA submission for TX-004HR was not supported by the complete TX-004HR clinical program and/or the clinical program was deficient; (iii) as a result of the foregoing, TherapeuticsMD's public statements were materially false and misleading at all relevant times.
On April 10, 2017, pre-market, the Company issued a press release ("April 2017 Press Release") advising investors that "the Company received a letter from the FDA [regarding TX-004HR] stating that, as part of its ongoing review of the NDA, the FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments at this time."
On this news, TherapeuticsMD's price share fell $1.50, or 19.48%, to close at $6.20 on April 10, 2017.
On May 8, 2017, TherapeuticsMD issued a press release announcing the FDA's rejection of the NDA for TX-004HR.
On this news, TherapeuticsMD's price share fell $0.49, or 10.49%, to close at $4.18 on May 8, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP