We are investigating Aptinyx Inc. (APTX) (“Aptinyx” or the “Company”) for potential violations of the federal securities laws.
In June 2018, Aptinyx completed its initial public offering (“IPO”) of common stock, selling over 7.3 million shares of stock priced at $16.00 per share, for gross proceeds of over $117 million. Then, on January 16, 2019, Aptinyx announced top-line results from a Phase 2 clinical study of NYX-2925, the Company’s proposed treatment of painful diabetic peripheral neuropathy, and disclosed that “NYX-2925 did not demonstrate statistically significant separation from placebo on the primary endpoint, change in subjects’ average daily pain scores on the Numerical Rating Scale (NRS) during the final treatment week compared to baseline.” On this news, Aptinyx’s stock price fell $11.85 per share, or 66.46%, to close at $5.98 per share on January 16, 2019. Since the IPO, Aptinyx’s stock price has closed as low as $2.84 per share, representing a decline of more than 82% from the offering price.
Tuesday, October 29, 2019