On or around 02/24/2014 (Date of order of final judgment)
Filing Date: February 01, 2013
According to the law firm press release, the complaint alleges that defendants mislead investors about the timing and success of Keryx's clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer.
On April 2, 2012, Keryx announced the top-line data from the perifosine X-PECT Phase 3 Clinical Trial. The Company revealed that the trial for refractory advanced colorectal cancer did not meet the primary endpoint of improving overall patient survival versus capecitabine and a placebo. On this disappointing news, Keryx share price plummeted from $4.98 on March 30, 2012 to $1.74 on April 2, 2012 - a decline of roughly 65%.
This case was dismissed by Order of the Court on February 14, 2014.
Company & Securities Information
Defendant: Keryx Biopharmaceuticals, Inc
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: KERX
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Arthur Smith, et al. v. Keryx Biopharmaceuticals, Inc, et al.