An investigation on behalf of investors in Menlo Therapeutics Inc. (NASDAQ: MNLO) shares over potential wrongdoing at Menlo Therapeutics Inc. was announced and Menlo Therapeutics Inc. (NASDAQ: MNLO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/06/2018 -- An investigation on behalf of current long-term investors in shares of Menlo Therapeutics Inc. (NASDAQ: MNLO) was announced over potential breaches of fiduciary duties by certain officers and directors at Menlo Therapeutics Inc.
Investors who purchased shares of Menlo Therapeutics Inc. (NASDAQ: MNLO) and currently hold any of those NASDAQ: MNLO shares 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 concerns whether certain Menlo Therapeutics directors breached their fiduciary duties and caused damage to the company and its shareholders.
On January 25, 2018, Menlo Therapeutics Inc. (NASDAQ: MNLO) completed an initial public offering ("IPO"), selling over 8 million shares of common stock at $17.00 per share, for gross proceeds of $136.9 million. By February 2018, Menlo Therapeutics Inc. (NASDAQ: MNLO) stock was valued at roughly $30.00 per share.
Then on April 6, 2018, Menlo Therapeutics Inc. (NASDAQ: MNLO) revealed the top-line results from MTI-103 (ATOMIK), the Phase 2 clinical trial of serlopitant for the treatment of pruritus in adults and adolescents with a history of atopic dermatitis. Menlo said that the study "did not meet its primary or key secondary efficacy endpoints with no statistically significant difference demonstrated between the serlopitant treated groups and the placebo treated group," and divulged that "the results in this Phase 2 trial of pruritus associated with atopic dermatitis did not reach statistical significance and did not show the same magnitude of treatment effect as in our prior pruritus studies."
Those who purchased shares of Menlo Therapeutics Inc. (NASDAQ: MNLO), have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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