NEW YORK, Jan. 09, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in United States District Court for the District of New Jersey on behalf of a class (the “Class”) consisting of persons and entities that purchased or otherwise acquired Agile Therapeutics, Inc. (“Agile” or the “Company”) (NASDAQ: AGRX ) securities between March 9, 2016 and January 3, 2017, inclusive (the “Class Period”).
Investors who have incurred losses in Agile Therapeutics, Inc. shares are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may also review the filed complaint and obtain additional information concerning the action on our website, www.whafh.com.
If you purchased shares of Agile Therapeutics, Inc. within the class period and suffered losses, you may, no later than March 7, 2017 , request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Twirla contraceptive patch had an efficacy rating that fell below peer group standards; (2) that over half of patients in its “Secure” Phase 3 Study discontinued the study early; (3) that the Twirla patch therefore allegedly had a slight chance of FDA approval; and (4) that, as a result of the foregoing, Defendants’ statements about Agile’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On January 3, 2017, Agile disclosed statistical information pertaining to its Phase 3 SECURE study analyzing the Company’s combined hormonal contraceptive patch Twirla. The study, which was initiated at the request of the FDA, comes after the FDA rejected Agile’s initial marketing application back in 2013. The Company cited “positive top-line results” in the study, yet reported an efficacy measure that failed to meet the standard set by other approved contraceptive patches. Additionally, 51.4% of subjects opted to discontinue the study.
On this news, Agile stock fell nearly 48% on January 4, 2017, closing at $2.63/share, down $2.37/share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4708
