The Shareholders Foundation announces that an investigation on behalf of investors of Alcobra Ltd (NASDAQ:ADHD) shares is ongoing over potential securities laws violations by Alcobra Ltd and certain of its directors and officers.
Investors who purchased shares of Alcobra Ltd (NASDAQ:ADHD) 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 Alcobra Ltd (NASDAQ:ADHD) concerning whether a series of statements by Alcobra Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Alcobra Ltd reported that its Net Loss increased from $1.58 million in 2012 to $10.55 million in 2013. Shares of Alcobra Ltd (NASDAQ:ADHD) grew from $6.84 per share in July 2013 to as high as $24.68 per share in October 2013, respectively $23.81 per share in February 2014.
On On October 6, 2014, Alcobra Ltd announced topline results from its Phase III study of Metadoxine Extended Release (“MDX”) in Adult Attention Deficit Hyperactivity Disorder (“ADHD”), and declared that MDX demonstrated a statistically significant improvement in ADHD symptoms. Alcobra Ltd further stated that after removing four patients with extreme placebo responses did MDX demonstrate statistical significance in improving patient symptoms.
The same day an analyst report was published entitled, “Alcobra ADHD Drug Fails Key Study except When Patients Removed From Analysis”.
Then on October 23, 2014, Alcobra Ltd announced the presentation of new data from a Phase III study of MDX in adults with ADHD at the 61st annual meeting of the American Academy of Child and Adolescent Psychiatry. Alcobra Ltd also said that “while a complete ITT analysis by ADHD subtypes is still ongoing and was not presented at AACAP, the magnitude of symptom improvement appears to be similar in all subtypes, and the Predominantly-Inattentive ADHD (PI-ADHD) subtype alone did not produce a statistically significant outcome.”
Shares of Alcobra Ltd (NASDAQ:ADHD) declined from $20.26 per share in late September 2014 to as low as $3.26 per share on October 28, 2014.
On November 11, 2014, NASDAQ:ADHD shares closed at $3.62 per share.
Those who purchased shares of Alcobra Ltd have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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