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
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