PR Newswire
NEW YORK, Aug. 28, 2023
NEW YORK, Aug. 28, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of BioXcel Therapeutics, Inc. ("BioXcel" or the "Company") (NASDAQ: BTAI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether BioXcel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 29, 2023, BioXcel issued a press release announcing "topline results for TRANQUILITY II, a Phase 3 trial of BXCL501, the Company's proprietary, orally dissolving film formulation of dexmedetomidine under investigation for the acute treatment of Alzheimer's disease-related agitation." Although BioXcel characterized the results as "positive," the press release also disclosed in a filing with the U.S. Securities and Exchange Commission that a "principal investigator in the TRANQUILITY II clinical trial may have fabricated email correspondence . . . to the Company's pharmacovigilance safety vendor" and that the same principal investigator failed to adhere to the trial's data integrity protocols.
On this news, BioXcel's stock price fell $11.28 per share, or 63.84%, to close at $6.39 per share on June 29, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
