LOS ANGELES, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming November 20 , 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased NextCure, Inc. (“NextCure” or the Company”) (NASDAQ: NXTC ) (a) securities between November 5, 20 19 and July 14, 2020 , inclusive (the “Class Period”); and/or (b) common stock pursuant or traceable to the Company’s November 2019 secondary public offering (“SPO” or the “Offering”).
If you suffered a loss on your NextCure investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/nextcure-inc/ . You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
In November 2019, NextCure completed its SPO, selling over 4 million shares at $36.75 per share.
On January 13, 2020, NextCure disclosed that Eli Lilly and Company had ended its collaboration agreement for the research and development of the Company’s leading product candidate, NC318, a first-in-class immunomedicine targeting the Siglec-15 immunomodulatory receptor particularly for patients with advanced or metastatic solid tumors.
On this news, the Company’s share price fell $4.70, or 8%, to close at $52.00 per share on January 13, 2020, thereby injuring investors.
Then, on July 13, 2020, before the market opened, NextCure announced that it was no longer planning to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial.” The same day, the Company announced that its Chief Medical Officer resigned.
On this news, the Company’s share price fell $9.73, or 54%, to close at $8.15 per share on July 13, 2020, thereby injuring investors further.
The complaint filed in this class action alleges that 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 to investors that: (1) the Company possessed NC318 data that showed a lack of efficacy and objective responses; (2) as a result, NC318 was not, in fact, effective in treating most tumor types; (3) as a result, the NC318 application was proving to be limited (if even useful at all); (4) as a result of the foregoing, there was a significant realizable risk that NC318 would not be nearly as popular as then-existing blockbuster drugs, such as Keytruda.
Follow us for updates on LinkedIn , Twitter , or Facebook .
If you purchased NextCure securities during the Class Period or common stock to the SPO, you may move the Court no later than November 20 , 2020 to ask the Court to appoint you as lead plaintiff. 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 if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com , or visit our website at www.glancylaw.com . If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay and Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
