The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have lost money investing in Aquinox Pharmaceuticals, Inc (NASDAQ: AQXP).
According to MarketWatch, Aquinox Pharmaceuticals is a clinical-stage pharmaceutical company engaged in the “identification and development of therapeutics for inflammatory diseases and cancer.” It trades on the NASDAQ exchange under AQXP. David J. Main has served as Chairman, President, and Chief Executive Officer since 2003; Kamran Alam has served as Chief Financial Officer and Vice President since 2011; Stephen Bevan Shrewsbury has served as Chief Medical Officer and Senior Vice President of Clinical Development since 2013. AQXP is headquartered in Vancouver, British Columbia.
In July 2015 AQXP was downgraded by Jefferies from “Buy” to “Hold.” Yahoo Finance reports AQXP fell roughly 67.5% following the company’s announcement that the lead candidate in its “FLAGSHIP” clinical trial failed to perform as well as expected. The study sought to evaluate the effect of the AQX-1125 medication on patients with chronic obstructive pulmonary disease. The twelve-week study found that AQX-1125 “demonstrated no difference” in these patients as compared to the placebo.
After the trial failed, Jefferies downgraded AQXP and reduced its price target from $13 to $2. According to Yahoo Finance, analyst Biren Amen commented that “We are removing the revenues of AQX-1125 in COPD and now currently expect a peak risk-adjusted revenue of $226M (v. prev $393M) in 2028 for AQX-1125. We believe AQXP may restructure its clinical programs going forward to have enough cash to fund the IC pivotal trial, hence we have removed capital raises from our model.”
If you have lost money investing in Aquinox Pharmaceuticals (AQXP), call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be qualified to recover your losses. All cases are taken on contingency: we only get paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Again, you spend no money out of pocket. Call 877-238-4175 now to speak to an attorney for free.