NEW YORK, April 27, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Edge Therapeutics, Inc. (“Edge” or the “Company”) (NASDAQ:EDGE) of the June 22, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Edge stock or options between December 29, 2017 and March 27, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/EDGE.  There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26^th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Edge common stock between December 29, 2017 and March 27, 2018 (the “Class Period”).  The case, Sanfilippo v. Edge Therapeutics, Inc. et al., No. 2:18-cv-08236 was filed on April 23, 2018 and has been assigned to Judge Jose L. Linares.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (1) that EG-1962, the Company’s lead product candidate to treat aneurysmal subarachnoid hemorrhage, would likely fail a futility analysis in connection with the NEWTON 2 study; and, (2) that, as a result of the foregoing, the Company’s statements regarding its business, operations, and prospects, were materially false and misleading.

Specifically, on March 28, 2018, the Company issued a press release reporting the discontinuation of the Phase 3 NEWTON 2 study, citing a low probability that EG-1962 would achieve a statistically-significant difference compared to the standard of care in the study’s primary endpoint.

After the announcement, Edge’s share price fell from $15.59 per share on March 27, 2018 to a closing price of $1.31 on March 28, 2018—a $14.28 or a 91.59% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding Edge’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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