NEW YORK, May 16, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of NewLink Genetics Corporation (“NewLink”) (NASDAQ:NLNK) between September 17, 2013 and May 9, 2016.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired NewLink securities between September 17, 2013 and May 9, 2016, your rights may be affected by this action. To get more information go to: http://www.zlk.com/pslra/newlink-genetics-corporation.
The complaint alleges that NewLink continuously touted the effectiveness and favorable safety profile of the company’s lead product candidate, algenpantucel-L, an immunotherapeutic pancreatic cancer treatment. As a result of such public statements, stock price traded at artificially high levels throughout the class period.
On May 9, 2016, NewLink announced that algenpantucel-L did not achieve its primary endpoint. Patients treated with algenpantucel-L lived for a median of 27.3 months in NewLink’s Phase 3 Clinical Trial, compared to median survival of 30.4 months for patients treated with standard therapy. Following this news, shares of NewLink were down more than 30% during intraday trading May 10, 2016.
If you suffered a loss in NewLink you have until July 11, 2016 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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pslra/newlink-genetics-corporation.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.