Transition Therapeutics Inc. under shareholder investigation
ver potential violation of Federal Securities Laws by Transition Therapeutics Inc. and others was announced.
If you are an investor in Transition Therapeutics Inc. (Public, NASDAQ:TTHI) shares, or have information relating to this investigation, you have certain options and you should contact the Shareholders Foundation, Inc. at:
mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554
The investigation by a law firm on behalf of investors in Transition Therapeutics Inc. (Public, NASDAQ:TTHI) focuses on shareholder claims based among other things on the following events. On December 15, 2009, Transition Therapeutics, and its partner Elan Corporation, plc, issued a press release disclosing that Transition Therapeutics had notified clinical investigators of modifications to the Phase II study of ELND005, a potential Alzheimer’s disease treatment, after greater rates of serious adverse events, including nine patient deaths, were observed among patients receiving the two highest doses. The study was evaluating three dose levels of ELND005 compared to placebo in 353 patients.Then on December 15, 2009, Transition Therapeutic’s common stock declined by $3.50 per share, or about 44.25%, to close at $4.41 per share on substantially greater than average volume.
Transition Therapeutics Inc., located in Toronto, Canada, is a product-focused biopharmaceutical company, developing therapeutics for disease indications with large markets. The Company’s lead products are ELND005 (AZD-103) for the treatment of Alzheimer’s disease, TT-223 for the treatment of diabetes, and TT-301 and TT-302, which can have a therapeutic effect on CNS diseases, including Alzheimer’s disease, traumatic brain injury (TBI), multiple sclerosis (MS) and others. Transition Therapeutics Inc. reported ion June 30, 2008 for the past 12months Total Revenue of $1.60million and on June 30, 2009 for the past 12months Total Revenue of $2.51million. Shares of Transition Therapeutics Inc. (TTHI) traded recently at $3.28 per share, down from its 52weekHigh of $9.00 per share and $13.50 per share in June 2008.
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