According to the law firm press release, the complaint alleges that, throughout the class period, Neurotrope issued materially false and misleading statements and/or failed to disclose material information concerning the efficacy of its lead product candidate, Bryostatin-1. On May 1, 2017, Neurotrope issued a press release announcing “positive top-line results” of the pivotal Phase 2b trials of Bryostatin-1, noting “improvement in patients with moderate to severe Alzheimer’s disease.” However, the underlying trial data contradicts these representations, as the top-line data relating to the 20 microgram dose of Bryostatin-1 failed to produce results that were statistically significant. In addition, Neurotrope failed to disclose statements regarding the efficacy of the 40 microgram dose with regard to its primary and secondary endpoints. Upon this news, shares of Neurotrope fell from a close of $18.81 on April 28, 2017, to a close of $6.97 per share on May 1, 2017.
On August 10, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel, and Consolidating Cases. The Consolidated Cases shall be identified as: "In re Neurotrope, Inc., Securities Litigation." Lead Plaintiff filed an amended Complaint on October 9. Defendants filed a Motion to Dismiss the amended Complaint on November 21. On June 4, 2018, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to file a letter along with a proposed new pleading. On July 9, Plaintiffs voluntarily dismissed this case.