|[June 24, 2014]
INVESTOR ALERT: Class Action Lawsuit against Endocyte, Inc. Announced by Glancy Binkow & Goldberg LLP
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of Indiana on behalf of a class (the "Class") comprising all purchasers
of the common stock of Endocyte,
Inc. ("Endocyte" or the "Company") (NASDAQ:ECYT) between March 21,
2014 and May 2, 2014, inclusive (the "Class Period").
Please contact us at (646) 539-8980, or at firstname.lastname@example.org
to discuss this matter. If you inquire by email please include your
mailing address, telephone number and number of shares purchased.
Endocyte is a biopharmaceutical company engaged in the development of
targeted therapies fo the treatment of cancer and inflammatory diseases
in the United States. The Complaint alleges that the defendants issued
misleading statements during the Class Period regarding the efficacy of
Endocyte's experimental drug, VYNFINIT®, and misrepresented or failed to
disclose material information concerning the Company's business and
On May 2, 2014, Endocyte disclosed that VYNFINIT was found ineffective
in the treatment of platinum-resistant ovarian cancer, based on certain
testing methods known as response evaluation criteria in solid tumors,
or "RECIST." Following this news, on May 2, 2014, the price of Endocyte
stock dropped approximately 61% from the previous day's closing price,
to close at $6.62 per share on May 2, 2014, on unusually heavy trading
volume. The Company subsequently announced that it would withdraw its
application to market VYNFINIT in Europe.
If you are a member of the Class described above, you may move the Court
no later than 60 days from June 24, 2014, to serve as lead plaintiff, if
you meet certain legal requirements. To be a member of the Class you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class. If
you wish to learn more about this action, or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Lesley Portnoy, Esquire, at (646)
539-8980, or Gregory
Linkh, Esquire, at (212) 682-5340, of Glancy Binkow & Goldberg LLP,
122 E. 42nd Street, Suite 2920, New York, New York 10168, by email to email@example.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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