SAN DIEGO, CA / ACCESSWIRE / August 15, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors who purchased NASDAQ: DNAI shares against ProNAi Therapeutics Inc, now Sierra Oncology Inc (NASDAQ: SRRA) over alleged Securities Laws violations.
Investors, who purchased NASDAQ: DNAI shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On June 6, 2016, Sierra Oncology Inc, formerly ProNAi Therapeutics Inc, announced interim results from the Wolverine Phase 2 trial of PNT2258 for the treatment of relapsed or refractory (r/r) diffuse large B-cell lymphoma (DLBCL). ProNAi Therapeutics Inc's President and CEO Nick Glover said, "Although [PNT2258] observed modest efficacy …in [the] interim analysis of Wolverine," the Company has "decided to suspend the development of PNT2258" because the results were not "robust enough to justify continued development of the drug in DLBCL."
On November 9, 2016, a lawsuit was filed against ProNAi Therapeutics Inc over alleged violations of Federal Securities Laws. The plaintiff claims that ProNAi Therapeutics Inc made allegedly materially false and misleading statements about the potential and efficacy of its drug product candidate PNT2258 in the company's public filings, which caused ProNAi's stock price to be artificially inflated, thus harming investors.
On March 17, 2017, an amended complaint was filed and on May 1, 2017, the defendants filed their motion to dismiss the case.
Those who purchased ProNAi Therapeutics Inc (NASDAQ: DNAI) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
ReleaseID: 472593
