Lawsuit Overview
July 13, 2017 - The court granted the stipulation of dismissal with prejudice.
June 26, 2017 - A stipulation of dismissal with prejudice was filed by the parties.
January 6, 2017 - An investor in shares of Agile Therapeutics Inc (NASDAQ: AGRX) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Agile Therapeutics Inc in connection with certain allegedly false and misleading statements made between March 9, 2016 and January 3, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Agile Therapeutics Inc (NASDAQ: AGRX) common shares between March 9, 2016 and January 3, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 9, 2016 and January 3, 2017 the defendants allegedly failed to disclose that the Twirla contraceptive patch had an efficacy rating that fell below peer group standards, that over half of patients in its “Secure” Phase 3 Study discontinued the study early, that the Twirla patch therefore allegedly had a slight chance of FDA approval, and that, as a result of the foregoing, defendants’ statements about Agile Therapeutics’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On January 3, 2017, Agile Therapeutics Inc (NASDAQ: AGRX) announced top-line results from its Phase 3 SECURE clinical trial of Twirla®, its investigational low-dose combined hormonal contraceptive patch. The study, which was initiated at the request of the FDA, comes after the FDA rejected Agile Therapeutics Inc's initial marketing application back in 2013. The Company cited positive top-line results in the study, yet reported that almost 2% of subjects experienced serious adverse events including deep vein thrombosis, pulmonary embolism, gallbladder disease, ectopic pregnancy and depression.
Shares of Agile Therapeutics Inc (NASDAQ: AGRX) declined to as low as $1.82 per share on January 4, 2017.
On January 6, 2017, NASDAQ: AGRX shares closed at $2.69 per share.