January 22, 2021 - The court granted the defendants' motion to dismiss.

The plaintiffs were given leave to amend the complaint.

September 18, 2020 - A motion to dismiss the second amended consolidated complaint was filed.

July 29, 2020 - A consolidated second amended complaint was filed.

June 19, 2020 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

January 31, 2020 - A motion to dismiss the consolidated complaint was filed.

December 2, 2019 - A consolidated complaint was filed.

May 15, 2019 - An investor in shares of Intersect ENT Inc (NASDAQ: XENT) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Intersect ENT Inc in connection with certain allegedly false and misleading statements made between August 1, 2018 and May 6, 2019. Commercial stage drug-device company Intersect ENT Inc conducted its initial public offering in July 2014. Shares of Intersect ENT Inc (NASDAQ: XENT) grew from $12.30 per share in August 2014 to as high as $32.44 per share in July 2015.

Menlo Park, CA based Intersect ENT Inc reported that its annual Total Revenue rose from $96.3 million in 2017 to $108.47 million in 2018 and that its Net Loss increased from $16.36 million in 2017 to $22.92 million in 2018.

On August 1, 2018, Intersect ENT Inc disclosed that it faced certain challenges with the launch of INUVA, which had negatively impacted the Company’s second quarter 2018 financial results.

Then, on May 6, 2019, Intersect ENT Inc disclosed a first quarter 2019 loss of $10.8 million and lowered guidance for the remainder of 2019. The Company also reported that Earnhardt, the Company’s CEO of 11 years, resigned. Shares of Intersect ENT Inc (NASDAQ: XENT) declined to as low as $24.39 per share on May 8, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Intersect ENT Inc (NASDAQ: XENT) common shares between August 1, 2018 and May 6, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 1, 2018 and May 6, 2019 Defendants failed to disclose to investors that the Company lacked adequate reimbursement representatives to ensure physicians had access to SINUVA, that, as a result, the Company’s sales force would focus on ensuring reimbursement, that, as a result, the Company’s sales representatives were less focused on driving sales, that physicians were less likely to adopt the Company’s SINUVA due to transaction costs associated with seeking reimbursement, that the Company would increase staffing to address these issues, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.