Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Alcobra Pharma, Ltd. (NASDAQ: ADHD) in connection to alleged violations of securities laws by ADHD and certain of its officers. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Alcobra between August 13, 2015 and January 17, 2017.
The class action complaint specifically alleges that during the period in question, ADHD and certain of its officers might have provided false and/or misleading material information, and/or failed to disclose adverse material information regarding its second Phase III clinical study for Metadoxine Extended Release (MDX), a treatment for patients with attention deficit hyperactivity disorder. The study was known as the MEASURE study, short for “MDX Evaluation in Adults—Study of Response and Efficacy.” Alcobra announced in a January 17, 2017 press release that the MDX study had failed to meet its primary endpoint; after this news was revealed, ADHD’s value fell, to the substantial detriment of investors.
According to the company’s website, Alcobra Pharma “a publicly traded, emerging pharmaceutical company (NASDAQ: ADHD) primarily focused on the development and commercialization of novel treatments for CNS and cognitive disorders such as ADHD and Fragile X syndrome.” The description continues: “Our objective is to develop and commercialize novel, proprietary pharmaceutical products for treatment of central nervous system disorders, particularly cognitive dysfunctions.”