NEW YORK, Jan. 26, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors
that a class action lawsuit has been filed against Inotek Pharmaceuticals Corporation (“Inotek” or the “Company”) (NASDAQ:ITEK) and
certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Inotek securities between
July 23, 2015 and December 30, 2016, both dates inclusive (the “Class Period”). Such investors are advised to join this case
by visiting the firm’s site: http://www.bgandg.com/itek.
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 alleges that on July 23, 2015, Inotek announced its positive End of Phase 2 meeting with the U.S. Food and Drug
Administration and said that Inotek is in the "final preparation stages to commence its first Phase 3 trial in 4Q and look forward
to data in 2016." Inotek also announced a confident forecast of the Phase 3 trabodenoson trial, which caused its stock price to
surge to $15.37 per share on July 23, 2015. Inotek's Form 10-K filing also implied that trabodenoson would be successful, stating
that it upholds an impressive safety record compared to similar glaucoma treatments.
Despite the positive announcements, per the Complaint, Inotek officials were aware that part of the clinical trial of
trabodenoson would not achieve its intended goal of reducing intraocular pressure compared to the placebo. Later on January 3,
2017, Inotek exposed this information and stated that the first pivotal Phase 3 trial of trabodenoson to treat open-angle glaucoma
or ocular hypertension failed, in comparison to the placebo, in its endpoint of superiority in the reduction of intraocular
pressure. Following this news, Inotek's stock dropped about 70%.
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/itek 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 Inotek 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
