Accesswire 13-Jan-2017 1:48 PM
LOS ANGELES, CA / ACCESSWIRE / January 13, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against TG Therapeutics, Inc. ("TG Therapeutics" or the "Company") (NASDAQ: TGTX). Investors, who purchased or otherwise acquired TG Therapeutics shares between September 15, 2014 and October 12, 2016 inclusive (the "Class Period"), are encouraged to contact the firm 60 days within this notice, also known as the lead plaintiff motion deadline.
To participate in this class action lawsuit, call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
TG Therapeutics is a biopharmaceutical company that manufactures, develops, and markets new treatments for B-cell, malignancies, and autoimmune diseases within the United Stated. The Company produces two treatments against hematological malignancies and autoimmune diseases, TG-1101 and TGR-1202. The Complaint suggests that on September 17, 2015, TG Therapeutics announced that the U.S. Food and Drug Administration (FDA) had contacted them due to a Special Protocol Assessment on the make of a Phase 3 clinical trial for TG-1101 and TGR-1202.
This Phase 3 trial, the GENUINE trial, was to demonstrate that TG-1101 could demonstrate a surge in the overall response rate and progression-free survival ("PFS") in 330 existing patients with certain cancer cell mutations. As per the Complaint, TG Therapeutics officials failed to disclose important information regarding the Phase 3 trial, instead informing shareholders that it is the "best-in-class" treatment, "successful", and "a novel chemo-free treatment option." Furthermore, TG Therapeutics did not put forth an adequate screening mechanism in the GENUINE enrolling sites and did not enroll patients at the required rate for the study to be successful. Lastly, the trial did not attract 330 patients, contrary to the Company's statements.
On October 13, 2016, TG Therapeutics put out a statement revealing that it had put out an amended GENUINE Phase 3 trial protocol with the FDA. The same day, TheStreet released an article suggesting that TG Therapeutics has a long history of poor management. The article also showed that the Company halted enrollment for the GENUINE trial by a third, removed important efficacy endpoints, and generally exposed the company to more risk. When this information was revealed to the investing public, TG Therapeutics' stock declined almost 27%, causing investors severe harm.
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SOURCE: Lundin Law PC