The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Neurotrope, Inc. (NASDAQ: NTRP) who purchased shares between January 7, 2016, and April 28, 2017. The action, which was filed in the U.S. District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
The complaint alleges that throughout the Class Period Neurotrope issued materially false and misleading statements and/or failed to disclose material information concerning the efficacy of its lead product candidate, Bryostatin-1. On May 1, 2017, Neurotrope issued a press release announcing “positive top-line results” of the pivotal Phase 2b trials of Bryostatin-1, noting “improvement in patients with moderate to severe Alzheimer’s disease.” However, the underlying trial data contradicts these representations, as the top-line data relating to the 20 microgram dose of Bryostatin-1 failed to produce results that were statistically significant. In addition, Neurotrope failed to disclose statements regarding the efficacy of the 40 microgram dose with regard to its primary and secondary endpoints. Upon this news, shares of Neurotrope fell from a close of $18.81 on April 28, 2017, to a close of $6.97 per share on May 1, 2017.
Shareholders have until July 17, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.