Haeggquist & Eck, LLP has commenced an investigation into Ventrus Biosciences, Inc. (“Ventrus”), to determine whether it has violated securities laws by issuing false and misleading statements to its shareholders.
Ventrus is a specialty pharmaceutical company that focuses on the development of prescription drugs for gastrointestinal disorders. On June 25, 2012, Ventrus announced the results of its Phase 3 placebo-controlled trial of its experimental drug iferanserin, also known as VEN 309. The trial results showed that VEN 309 failed to demonstrate an improvement in therapy in patients with hemorrhoidal disease, and Ventrus announced that had no immediate plans to continue the development of VEN 309.
Upon this announcement, the price of Ventrus stock declined from as high as $12.26 per share on June 22, 2012, to as low as $4.27 on June 29, 2012, and continued to decline to as low as $2.06 per share on November 13, 2012.
Our investigation focuses on whether statements made by Ventrus to the investing public regarding the effectiveness and commercial prospects for VEN 309 were materially false and misleading at the time they were made.
If you are a Ventrus Biosciences, Inc. shareholder who purchased Ventrus common stock between December 17, 2010, and June 22, 2012, you may have claims under the securities laws. If you wish to discuss this investigation or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at (619) 468-5222.