Glancy
Binkow & Goldberg LLP reminds investors of Endocyte,
Inc. (“Endocyte” or the “Company”) (NASDAQ:ECYT) that all purchasers
of Endocyte common stock between March 21, 2014 and May 2, 2014,
inclusive (the “Class Period”), have until August 25, 2014, to file a
motion to be appointed as lead plaintiff in the shareholder lawsuit.
Endocyte is a biopharmaceutical company engaged in the development of
targeted therapies for the treatment of cancer and inflammatory diseases
in the United States. The Complaint
alleges that the defendants issued misleading statements during the
Class Period regarding the efficacy of Endocyte's experimental drug,
VYNFINIT®, and misrepresented or failed to disclose material information
concerning the Company's business and financial prospects.
On May 2, 2014, Endocyte disclosed that VYNFINIT was found ineffective
in the treatment of platinum-resistant ovarian cancer, based on certain
testing methods known as response evaluation criteria in solid tumors,
or “RECIST.” Following this news, on May 2, 2014, the price of Endocyte
stock dropped approximately 61% from the previous day’s closing price,
to close at $6.62 per share on May 2, 2014, on unusually heavy trading
volume. The Company subsequently announced that it would withdraw its
application to market VYNFINIT in Europe.
If you are a member of the Class described above, you may move the Court
no later than August 25, 2014, to serve as lead plaintiff; however, you
must meet certain legal requirements. To be a member of the Class, you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class. If
you wish to learn
more about this action or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Casey
Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, Toll Free at (888)
773-9224, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
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jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2014