AP NEWS
ADVERTISEMENT
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

ATNX & OTRK Class Actions: Bronstein, Gewirtz & Grossman LLC Reminds Shareholders of ...

April 12, 2021 GMT

NEW YORK, April 12, 2021 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

ADVERTISEMENT

Athenex, Inc. (NASDAQ: ATNX) 
Class Period: August 7, 2019 - February 26, 2021
Deadline: Amy 3, 2021
For more info: www.bgandg.com/atnx
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts. Specifically the complaint alleges that on March 1, 2021, Athenex announced that the FDA had issued a complete response letter (“CRL”) for its New Drug Application (“NDA”) for oral paclitaxel plus encequidar for the treatment of metastatic breast cancer. The CRL cited patient safety risks and uncertainty related to primary endpoint results for the objective response rate (“ORR”) which may have introduced bias in the blinded clinical review. The FDA advised Athenex to “conduct a new adequate and well-conducted clinical trial in a patient population with metastatic breast cancer representative of the population in the U.S,” and indicated that the toxicity would require a risk mitigation strategy for the treatment to be approved. Following on this news, Athenex stock dropped roughly 55% in one day.

Ontrak, Inc. (NASDAQ: OTRK)
Class Period: November 5, 2020 - February 26, 2021
Deadline: May 3, 2021
For more info: www.bgandg.com/otrk
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose that: (1) that Ontrak’s largest customer evaluated the Company on a provider basis, valuing Ontrak’s performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings; (2) that, as a result, Ontrak’s largest customer did not find the Company’s program to be effective and was reasonably likely to terminate its contract with Ontrak; (3) that, because this customer accounted for a significant portion of the Company’s revenue, the loss of the customer would have an outsized impact on Ontrak’s financial results; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

ADVERTISEMENT

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