An investigation for investors in NASDAQ:EGLT shares was announced over possible violations of securities laws by Egalet Corp in connection certain financial statements.
Investors who purchased shares of Egalet Corp (NASDAQ:EGLT), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Egalet Corp (NASDAQ:EGLT) concerning whether certain statements by Egalet Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Wayne, PA based Egalet Corporation is a specialty pharmaceutical company that is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. Egalet Corp reported that its annual Total Revenue rose from $1.92 million in 2014 to $22.83 million in 2015 and that its Net Loss increased from $43.21 million to $57.93 million.
On January 9, 2017, Egalet Corp announced the approval of its product Arymo ER. Later that day the U.S. Federal Drug Administration (“FDA”) issued a statement announcing that another product called MorphaBond “has marketing exclusivity for labeling describing the expected reduction of abuse of single-entity extended-release morphine by the intranasal route due to physicochemical properties.” Because of MorphaBond’s marketing exclusivity, “no other single-entity extended-release morphine product submitted in an abbreviated new drug application or 505(b)(2) application can be approved for that use at this time.” Shares of Egalet Corp (NASDAQ:EGLT) declined to as low as $5.29 per share on January 17, 2017.
Those who purchased NASDAQ:EGLT shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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