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Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the District of New Jersey on behalf of shareholders of Agile Therapeutics, Inc. (NASDAQ: AGRX) (“Agile Therapeutics”) who purchased shares between March 9, 2016 and January 3, 2017.
The complaint alleges that throughout the Class Period, Agile Therapeutics made materially false and/or misleading statements and/or failed to disclose that: (a) the Twirla contraceptive patch had an efficacy rating that fell below peer group standards; (b) over half of patients in its “Secure” Phase 3 Study discontinued the study early; and (c) the Twirla patch therefore allegedly had a slight chance of gaining approval by the U.S. Food and Drug Administration.
On January 3, 2017, Agile Therapeutics reported “positive top-line results” for the study, yet reported an efficacy measure that failed to meet the standard set by other approved contraceptive patches. In addition, more than 51% of subjects opted to discontinue the study. Upon this news, shares of Agile Therapeutics fell from a close of $5.70 per share on December 30, 2016, to a close of $2.63 per share on January 4, 2017.
If you suffered a loss in Agile Therapeutics you have until March 7, 2017 to 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.
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