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SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Menlo Therapeutics Inc. (MNLO)

NEW YORK, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Menlo Therapeutics Inc. (“Menlo” or the “Company”) (NASDAQ: MNLO). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/mnlo.

The investigation concerns whether Menlo and certain of its officers and/or directors have issued materially misleading business information to the investing public.

On January 25, 2018, Menlo completed an initial public offering ("IPO"), selling over 8 million shares of common stock at $17.00 per share, for gross proceeds of $136.9 million. By February 2018, Menlo stock was valued at roughly $30.00 per share. Then on April 6, 2018, Menlo revealed the top-line results from MTI-103 (ATOMIK), the Phase 2 clinical trial of serlopitant for the treatment of pruritus in adults and adolescents with a history of atopic dermatitis. Menlo said that the study "did not meet its primary or key secondary efficacy endpoints with no statistically significant difference demonstrated between the serlopitant treated groups and the placebo treated group," and divulged that "the results in this Phase 2 trial of pruritus associated with atopic dermatitis did not reach statistical significance and did not show the same magnitude of treatment effect as in our prior pruritus studies." Following this news, Menlo stock dropped $27.05 per share, or over 75%, to close on April 9, 2018 at $8.17.

If you are aware of any facts relating to this investigation, or purchased shares of Menlo, you can assist this investigation by visiting the firm’s site: www.bgandg.com/mnlo. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

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