[ACCESSWIRE]
NEW YORK, NY / ACCESSWIRE / January 17, 2017 / To: Anyone that purchased or otherwise acquired shares of Inotek Pharmaceuticals Corp ("ITEK") (NASDAQ: ITEK) between July 23, 2015 and December 30, 2016. You are hereby notified that Levi & Korsinsky has commenced the class action Whitehead v. Inotek Pharmaceuticals Corporation, et al, (Case No. 1:17-cv-10025) in the USDC for the District of Massachusetts.
To get more information go to: http://www.zlk.com/pslra/inotek-pharmaceuticals-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that, throughout the Class Period, Inotek misrepresented the efficacy of its drug candidate trabodenoson - the only drug Inotek currently has in its clinical development pipeline - and its attendant capacity to receive New Drug Approval by the U.S. Food and Drug Administration. In particular, it is alleged that the Company made positive statements about the drug despite knowledge that the MATrX-1 phase 3 clinical trial of trabodenoson would fail to meet its primary endpoint of statistical relevance in the reduction of intraocular pressure compared with placebo.
On January 3, 2017, Inotek announced that the Phase 3 trial of trabodenoson had failed to achieve this primary endpoint. Following this news, shares of Inotek fell from a closing price of $6.10 on December 30, 2016, to a closing price of of $1.75 per share on January 3, 2017.
Take Action:
If you suffered a loss in ITEK, you have until March 7, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky LLP encourages anyone with information regarding ITEK's conduct to contact us, including whistleblowers, former employees, shareholders, and others.
Levi & Korsinsky LLP is a national securities firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise representing investors in securities lawsuits, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. We welcome the opportunity to discuss your particular case. All communications will be treated confidentially.
SOURCE: Levi & Korsinsky LLP