An investigation for investors in Vitae Pharmaceuticals Inc (NASDAQ:VTAE) shares over potential securities laws violations by Vitae Pharmaceuticals was announced and NASDAQ:VTAE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/04/2015 -- An investigation on behalf of investors of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) shares over potential securities laws violations by Vitae Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) concerning whether a series of statements by Vitae Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) grew from $5.80 per share in October 2014 to as high as $23.35 per share in December 2014. Vitae Pharmaceuticals Inc reported that its annual Total Revenue increased from $22.35 million in 2012 to $22.51 million in 2013 and that its respective Net Income rose from $0.22 million to $1.16 million.
On February 26, 2015 Vitae Pharmaceuticals Inc announced that its partner Boehringer Ingelheim has voluntarily placed BI 1181181 on a temporary clinical hold, and has notified regulatory agencies of its decision. BI 1181181 is an orally-active beta secretase (BACE) inhibitor being evaluated in Phase 1 clinical trials for the treatment and prevention of Alzheimer's disease. Vitae Pharmaceuticals Inc said that this action was taken to further investigate skin reactions observed in some study participants during the multiple rising dose trial. Shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) declined to as low as $10.57 per share on February 27, 2015.
On March 2, 2015, shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) closed at $11.26 per share.
Those who purchased shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com