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Neurotrope Inc (NASDAQ:NTRP) Investor Securities Class Action Lawsuit 05/17/2017

  • If you purchased shares of Neurotrope Inc (NASDAQ:NTRP), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Neurotrope Inc
Security
NASDAQ: NTRP

Case Name
Neurotrope Shareholder Class Action Lawsuit 05/17/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

July 9, 2018 - The case was voluntarily dismissed.

June 4, 2018 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint with an addition to propose a new pleading.

November 21, 2017 - A motion to dismiss the amended complaint was filed.

October 9, 2017 - An amended complaint was filed.

May 17, 2017 (Shareholders Foundation) - An investor in shares of Neurotrope Inc (NASDAQ:NTRP) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Neurotrope Inc in connection with certain allegedly false and misleading statements made between January 7, 2016, and April 28, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Neurotrope Inc (NASDAQ:NTRP) common shares between January 7, 2016, and April 28, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 7, 2016, and April 28, 2017 Neurotrope issued materially false and misleading statements and/or failed to disclose material information concerning the efficacy of its lead product candidate, Bryostatin-1.

New York based Neurotrope, Inc., formerly BlueFlash Communications, Inc., is a biopharmaceutical company with its product candidates in pre-clinical and clinical development. Neurotrope Inc
is focused on developing a product platform based upon a drug candidate called bryostatin for the treatment of Alzheimer's disease (AD), which is in the clinical testing stage.

Shares of Neurotrope Inc (NASDAQ:NTRP) reached as high as $28.60 per share on March 13, 2017.

On May 1, 2017, Neurotrope Inc announced “positive top-line results” of the pivotal Phase 2b trials of Bryostatin-1, noting “improvement in patients with moderate to severe Alzheimer’s disease.” However, the underlying trial data contradicts these representations, as the top-line data relating to the 20 microgram dose of Bryostatin-1 failed to produce results that were statistically significant. In addition, Neurotrope Inc failed to disclose statements regarding the efficacy of the 40 microgram dose with regard to its primary and secondary endpoints.

Shares of Neurotrope Inc (NASDAQ:NTRP) declined to $6.42 per share on May 15, 2017.

On May 17, 2017, Neurotrope Inc (NASDAQ:NTRP) shares closed at $6.75 per share.