10:55:41 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



CAN-FITE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Can-Fite BioPharma Ltd. Following Announcement of Psiorasis Drug Trial Results

2015-03-30 22:00 ET - News Release


NEW ORLEANS -- (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.

Contacts:

Kahn Swick & Foti, LLC
Lewis Kahn, 1-877-515-1850
Managing Partner
lewis.kahn@ksfcounsel.com

Source: Kahn Swick & Foti, LLC

© 2024 Canjex Publishing Ltd. All rights reserved.