NEW YORK, Nov. 23, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ProNAi Therapeutics, Inc. ("ProNAi" or the "Company") (NASDAQ: DNAI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether ProNAi and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 6, 2016, ProNAi released its interim results from the Wolverine Phase 2 trial of PNT2258 for the treatment of relapsed or refractory (r/r) diffuse large B-cell lymphoma (DLBCL). Nick Glover, the Company's President and CEO, stated that "[a]lthough [PNT2258] observed modest efficacy ... in [the] interim analysis of Wolverine," the Company has "decided to suspend the development of PNT2258" because the results were not "robust enough to justify continued development of the drug in DLBCL."
On this news, ProNAi's share price fell $4.31, or 67.55%, to close at $2.07 on June 6, 2016.
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
SOURCE Pomerantz LLP