NASDAQ:VTUS Investor Alert: Lawsuit against Ventrus Biosciences Inc filed
The Shareholders Foundation announces that an investor in shares of Ventrus Biosciences Inc (NASDAQ:VTUS) filed a lawsuit in the U.S. District Court for the Southern District of New York oOver alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 17, 2010 and June 25, 2012.
New York based Ventrus Biosciences, Inc. is a specialty pharmaceutical company focused on the development and commercialization of late-stage prescription drugs for gastrointestinal disorders, specifically hemorrhoids, anal fissures and fecal incontinence.
Investors who purchased a significant amount of shares of Ventrus Biosciences Inc (NASDAQ:VTUS) between December 17, 2010 and June 25, 2012 and / or those who purchased NASDAQ:VTUS shares prior to December 2010 and currently hold any of those NASDAQ:VTUS shares, have certain options and for certain investors in NASDAQ:VTUS shares are short and strict deadlines running. Deadline: July 8, 2013. NASDAQ:VTUS investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of those persons and entities who purchased or otherwise acquired Ventrus Biosciences Inc (NASDAQ:VTUS) between December 17, 2010 and June 25, 2012,, that Ventrus Biosciences Inc violated the Securities Exchange Act of 1934 by issuing a series of allegedly materially false and misleading statmennts touting the prospects and effectiveness of the company’s main and lead product VEN 309.
More specifically, the plaintiff alleges that Ventrus Biosciences Inc allegedly falsely represented that VEN 309 was a one-of-a-kind product that had no competing FDA approved products, that VEN 309 would be the first and only product specifically approved for use as a prescription treatment for hemorrhoids, that the prior phase IT and IIB studies of VEN 309, including the prior Phase IIb German study, consistently demonstrated reduction of hemorrhoidal symptoms, that the Company would be able to leverage VEN 309 to a market of over 12.5 million potential patients, and that the Phase III clinical trial for VEN 309 was “low risk” relative to most therapeutic drug development programs.
On March 3, 2011, Ventrus Biosciences, Inc. announced that it has selected inVentiv Clinical Solutions to manage its Phase III pivotal trial with Iferanserin and Almac Group to provide electronic patient-reported outcomes solutions. On March 18, 2011, Ventrus BioSciences, Inc. announced that it has filed a revised protocol with the U.S. Food and Drug Administration (FDA) under a Special Protocol Assessment (SPA) with new, more robust definitions for efficacy endpoints that were recommended by the FDA in a recent meeting with the company for the first pivotal study of the company’s iferanserin (VEN 309) ointment.
Shares of Ventrus Biosciences Inc increased from $6.00 per share in Jan. 2011 to as high as $20.16 per share in May 2011.
On August 16, 2011, Ventrus Biosciences Inc announced the launch of the First Pivotal Trial of Ventrus Biosciences’ experimental drug iferanserin, or VEN 309.
On November 9, 2011, Ventrus Biosciences Inc announced its 3Q 2011 Financial Results. Among other things, Ventrus Biosciences also reported its clinical trial progress and the initial topline results of a market research study commissioned by it and conducted by Princeton Biometrics on the U.S. market for iferanserin (VEN-309).
On Nov. 14, 2012, Ventrus Biosciences Inc announced that it validated a large Patient Potential for VEN 309 with Survey Data from 10,000 Consumers.
On Nov. 18, 2011, Ventrus BioSciences, Inc. announced that it completed its acquisition of all rights and title to VEN 309 (iferanserin) from the licensor.
On Jan. 13, 2012, Ventrus BioSciences, Inc. announced the online publication of the prior Phase 2b study utilizing iferanseri.
On April 30, 2012, Ventrus Biosciences, Inc. (announced that it has completed patient enrollment and randomization in the first Phase 3 clinical trial of iferanserin (VEN 309).
On May 9, 2012, Ventrus Biosciences, Inc. reported financial results for the first quarter ended March 31, 2012.
Then on June 25, 2012, Ventrus Biosciences, Inc. reported that its Phase 3, randomized, double-blind, placebo-controlled clinical trial of iferanserin (VEN 309) in patients with hemorrhoidal disease did not meet its endpoints.
Shares of Ventrus Biosciences Inc declined from as high as $12.26 per share on Jun. 22, 2012 to as low as $4.27 on Jun 29, 2012 and continued to declined to as low as $2.06 per share on Nov. 13, 2012.
On May 20, 2013, NASDAQ:VTUS shares closed at $2.62 per share, which is significantly below its current 52 week High of $12.88 per share.
Those who purchased shares of Ventrus Biosciences Inc (NASDAQ:VTUS), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego