NEW YORK, March 06, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Agile Therapeutics, Inc. (“Agile” or the “Company”) (NASDAQ: AGRX ) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Agile securities between March 9, 2016 and January 3, 2017, both dates inclusive (the “Class Period”). Such investors are advised to join this case by visiting the firm’s site: http://www.bgandg.com/agrx .
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and 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 dropped out of the study early; (3) that the Twirla patch therefore allegedly had a slim chance for FDA approval; and (4) that, consequently, Defendants’ statements about Agile’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On January 3, 2017, after market hours, Agile revealed data from its Phase 3 SECURE study evaluating Twirla, its combined hormonal contraceptive patch, following the U.S. Food and Drug Administration request, following its rejection of Agile’s 2013 initial marketing application. During a press release, Agile indicated “positive top-line results” in the study, but related that 1.7% of subjects suffered “serious adverse events” including “deep vein thrombosis, pulmonary embolism, gallbladder disease, ectopic pregnancy and depression.” Additionally, 51.4% of subjects withdrew the study. Following this news, Agile stock has dropped as much as $3.18 per share, or 63.6%, to $1.82 during intraday trading on January 4, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/agrx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Agile you have until March 7, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
