January 25, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares over potential securities laws violations by Eleven Biotherapeutics Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Eleven Biotherapeutics Inc (NASDAQ:EBIO) concerning whether a series of statements by Eleven Biotherapeutics Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Eleven Biotherapeutics Inc went public in February 2014 and shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) traded as high as $17.05 per share in March 2014.

On May 18, 2015, Eleven Biotherapeutics Inc (NASDAQ:EBIO) announced results from the OASIS study, the company's first pivotal Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease. Eleven Biotherapeutics Inc said that in this study, EBI-005 did not meet either of these two co-primary endpoints and that there was no statistically significant difference between the EBI-005 treated group and the vehicle control group on the co-primary endpoints or any secondary endpoints.

Shares of Eleven Biotherapeutics Inc (NASDAQ:EBIO) declined from $12.51 per share on May 15, 2015, to as low as $2.89 per share on May 18, 2015, respectively $2.73 per share on May 20, 2015.

On January 15, 2016, Eleven Biotherapeutics announced results from the Phase 3 clinical trial of its lead drug candidate, isunakinra (EBI-005), for the treatment of severe allergic conjunctivitis. In this trial, there were no statistically significant differences between the isunakinra treated group and the vehicle control group on the primary endpoint of ocular itching or on any secondary endpoints.