CAN-FITE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Can-Fite BioPharma...
March 30 2015 - 10:00PM
Business Wire
Former Attorney General of Louisiana, Charles C. Foti, Jr.,
Esq., a partner at the law firm of Kahn Swick & Foti, LLC
(“KSF”), announces that KSF has commenced an investigation into
Can-Fite BioPharma Ltd. (NYSE MKT: CANF).
On March 30, 2015, Can-Fite announced that its drug
candidate CF101 did not achieve its primary endpoint in
a Phase II/III psoriasis trial.
This Phase II/III double-blind, placebo-controlled study was
designed to test the efficacy of CF101 in patients with
moderate-to-severe plaque psoriasis. Following a positive interim
analysis in the first study segment, Can-Fite conducted a second
segment. The primary efficacy endpoint was a statistically
significant improvement in the Psoriasis Area Sensitivity Index
(PASI) score relative to placebo treatment, and the secondary
endpoints were, among others, the Physicians' Global Assessment
(PGA) score as well as various safety parameters. “We are
disappointed that our trial did not meet its primary endpoint.
Regretfully, in the PASI 75 and PGA we did not see any real effect
in patients over placebo," said Can-Fite CEO Dr. Pnina Fishman in a
statement.
On this news, the price of Can-Fite’s shares plummeted by over
60% and it was downgraded.
KSF’s investigation is focusing on whether Can-Fite and/or its
officers and directors violated state or federal securities
laws.
If you are a Can-Fite shareholder who purchased your shares
after November 17, 2014, and has suffered losses related to your
investment or have information that would assist KSF in its
investigation, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis
Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities
class action and shareholder derivative litigation with offices in
New York, California and Louisiana. KSF's lawyers have significant
experience litigating complex securities class actions nationwide
on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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