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NextCure, Inc. (NASDAQ: NXTC) Investor Securities Class Action Lawsuit 09/21/2020

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

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Lawsuit Overview

Company
NextCure, Inc.
Security
NASDAQ: NXTC

Case Name
NextCure Shareholder Class Action Lawsuit 09/21/2020
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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Summary

February 26, 2021 - An amended complaint was filed.

September 21, 2020 - An investor in shares of NextCure, Inc. (NASDAQ: NXTC) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by NextCure, Inc., certain directors and officers of the Company, and the underwriters of NextCure’s November 2019 public offering in connection with certain allegedly false and misleading statements.

Beltsville, MD based NextCure, Inc., a clinical-stage biopharmaceutical company, engages in discovering and developing novel immunomedicines to treat cancer and other immune-related diseases by restoring normal immune function.

On January 13, 2020, NextCure, Inc. (NASDAQ: NXTC) disclosed in a U.S. Securities and Exchange Commission filing that Eli Lilly and Company had ended its 2018 research and development collaboration agreement with NextCure, Inc. Then, on July 13, 2020, NextCure, Inc. announced that the Company no longer planned to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial” for its NC318 immunomedicine product, citing “clinical response data” and “current enrollment criteria.” NextCure concurrently announced the resignation of Kevin N. Heller from his role as the Company’s Chief Medical Officer. Shares of NextCure, Inc. (NASDAQ: NXTC) declined to as low as $7.91 per share on September 24, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of NextCure, Inc. (NASDAQ: NXTC) common shares between November 5, 2019 and July 14, 2020, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the defendants violated provisions of the Exchange and Securities Acts by misleading investors regarding its leading treatment candidate, NC318. Specifically, the complaint alleges that statements made by Defendants concerning the effectiveness of NC318, the responses observed in patients treated with NC318, and NC318’s potential to treat patients’ refractory to PD-1 therapies were false and misleading.