NEWS PROVIDED BY Law Offices Of Timothy L. Miles October 01, 2020
Timothy L. Miles, a nationally recognized shareholder rights attorney
Investor of NextCure, Inc. (NXTC ) Filed a Class Action Complaint Against the Company; NextCure Shareholders Urged to Contact Timothy L. Miles
NextCure, Inc. (NASDAQ:NXTC))
HENDERSONVILLE, TN, UNITED STATES, October 1, 2020 /EINPresswire.com/ — The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 19 years, announces that an investor of NextCure, Inc. (NASDAQ: NXTC) filed a class action against the Company for: (i) alleged violations of the Securities Exchange Act of 1934 between November 5, 2019 and July 14, 2020; and (ii) pursuant to the Securities Act of 1933 for misstatements in connection with its November 2019 secondary public offering (“SPO”). NextCure is a clinical-stage biopharmaceutical company that develops immune-oncology therapies. Its leading treatment candidate, NC318, targets a novel immunomodulatory receptor, called Siglec-15, or S15, particularly in patients with advanced or metastatic solid tumors.
NextCure, Inc. (NXTC) Accused of Misleading Shareholders
According to the complaint, during the class period, defendants misled investors regarding the efficacy of and objective responses observed in patients treated with NC318 from the Company’s Phase 1 Clinical Trial. Specifically, on November 5, 2019, NextCure made positive statements regarding its Phase 1 Clinical Trial in connection with the 34th Annual Meeting of Society for Immunotherapy of Cancer, reporting a disease control rate of 71% while committing to present results for the 43 patients dosed with NC318. According to the media and analysts, “expectations for NextCure and NC 318  soar[ed] because … NC318 could become as popular as [Merck’s blockbuster drug] Keytruda if clinical trial results continue to impress.” On this news, NextCure’s stock closed at $92.22 per share, up nearly 250% from the previous day’s close.
On November 19, 2019, NextCure closed its SPO, raising $172.2 million in gross proceeds. The offering documents touted the efficacy and effectiveness of NC318.
Then, on July 13, 2020, NextCure announced the departure of its Chief Medical Officer and that it was no longer planning to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial.” On this news, analysts slashed price targets from as high as $87 to as low as $13. As a result, NextCure’s shares dropped over 54% the next trading day to close at $8.15 per share on July 13, 2020.
If you purchased shares of NextCure (NXTC) between November 5, 2019 and July 14, 2020, you have until November 20, 2020, to ask the court to appoint you lead plaintiff.
NextCure Shareholders Urged to Contact the Firm
If you purchased NextCure securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to firstname.lastname@example.org. If you inquire by email please include your mailing address, telephone number, and the number shares owned.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely awarded the recognition of American’s Most Honored Lawyers 2020 – Top 1% by the American Registry. Mr. Miles was also recently selected by Martindale-Hubbell® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Top Rated Litigator by Martindale-Hubbell® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Email: email@example.com Website: www.timmileslaw.com
SOURCE: The Law Offices of Timothy L. Miles