An investigation for investors in NASDAQ:OCUL shares was announced over potential breaches of fiduciary duties by certain directors at Ocular Therapeutix.
Investors who purchased shares of Ocular Therapeutix Inc (NASDAQ:OCUL) 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 concerns whether certain Ocular Therapeutix directors breached their fiduciary duties and caused damage to the company and its shareholders.
On June 6, 2016, Ocular Therapeutix Inc announced topline results from its second Phase 3 clinical trial to evaluate the safety and efficacy of DEXTENZA™ (sustained release dexamethasone) Intracanalicular Depot for the treatment of ocular itching associated with chronic allergic conjunctivitis. Shares of Ocular Therapeutix Inc (NASDAQ:OCUL) declined from $12.43 per share on June 3, 2016 to as low as $6.26 per share on June 10, 2016.
On July 25, 2016 Ocular Therapeutix Inc (NASDAQ:OCUL) announced that it received a Complete Response Letter (CRL) from theU.S. Food and Drug Administration (“FDA”) regarding its New Drug Application (“NDA”) for DEXTENZA™ (dexamethasone insert) 0.4 mg, for intracanalicular use in the treatment of ocular pain occurring after ophthalmic surgery. Ocular Therapeutix Inc said that the concerns raised by the FDA pertain to deficiencies in manufacturing process and controls identified during a pre-NDA approval inspection of the Ocular Therapeutix Inc manufacturing facility. Ocular Therapeutix Inc said that the FDA’s letter did not provide any details as to which manufacturing deficiencies identified during the facility inspection remain open since the last response submitted by the Company and that satisfactory resolution of the manufacturing deficiencies identified during the FDA facility inspection is required before the NDA may be approved. Shares of Ocular Therapeutix Inc declined on July 26, 2016, to as low as $4.34 per share.
On August 17, 2016, NASDAQ:OCUL shares closed at $7.45 per share.
Those who purchased NASDAQ:OCUL shares 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