Vital Therapies, Inc. is an American biotech company focused on developing a cell-based therapy targeting the treatment of acute liver failure.

According to the law firm press release, the Complaint alleges that throughout the class period, Defendants issued materially false and misleading statements and/or failed to disclose material information regarding the Company’s ELAD System studies, VTI-208, VTI-210, and VTI-212, including (a) the studies’ independent significance; (b) the degree to which the studies were interrelated; and (c) that in the case of the failure of the VTI-208 trial, the Company would not continue the VTI-210 trial.

On August 21, 2015, after the market closed, Vital Therapies announced that the VTI-208 trial had “failed to meet the primary endpoint of overall survival through at least 91 days…” and that the Company would stop the VTI-210 and VTI-212 clinical trials. Upon this news, Vital Therapies shares plunged 73.4% to close at just $3.65 per share the next trading day.

On May 2, 2016, the Court issued an Order appointing lead Plaintiff and approving lead Counsel. Lead Plaintiff filed an amended Complaint on June 1.

On August 9, 2016, this case was voluntarily dismissed.