NEW YORK, June 19, 2018 /PRNewswire/ — Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether Menlo Therapeutics Inc. (“Menlo” or the “Company”) (NASDAQ: MNLO) or certain of its officers and directors violated federal securities laws. If you purchased Menlo stock in or after the Company’s January 2018 initial public offering (“IPO”), you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
Menlo is a late-stage biopharmaceutical company focused on the development of serlopitant for the treatment of pruritus associated with various underlying dermatologic conditions and for refractory chronic cough.
This investigation concerns whether Menlo’s filings with the U.S. Securities and Exchange Commission in connection with the IPO contained untrue statements of material fact or omitted material information, specifically regarding the Company’s second Phase 2 clinical trial of patients treated with serlopitant.
On April 9, 2018, Menlo disclosed that Phase 2 clinical trial of serlopitant for the treatment of pruritus in adults and adolescents with a history of atopic dermatitis failed to meet its primary or key secondary efficacy endpoints. The trial showed no statistically significant difference between patients treated with serlopitant and patients treated with placebo.
On this news, the price of Menlo stock closed at $8.17, a 76.8% decline from its previous close price of $35.22, and a 51% decline from the IPO price of $17.00.
What You Can Do
If you purchased Menlo common stock, and you wish to discuss this investigation, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org, or visit the Menlo investigation page on our website at https://scott-scott.com/investigation/menlo/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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