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Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Edge Therapeutics, Inc.

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Edge Therapeutics, Inc. [NASDAQ: EDGE] Investor Certification

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Oklahoma City, OK (April 26, 2018) – On April 23, 2018, a securities class action lawsuit was filed in the United States District Court for the District of New Jersey against Edge Therapeutics, Inc. (NASDAQ: EDGE).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is December 29, 2017 through March 27, 2018.  The Complaint alleges that defendants failed to disclose: (1) that Edge Therapeutics, Inc.’s (“Edge” or the “Company”) lead product candidate EG-1962 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 financial statements and Defendants’ statements about Edge’s business, operations, and prospects, were materially false and misleading at all relevant times.

On March 28, 2018, Edge Therapeutics disclosed, “that a pre-specified interim analysis on data from the Day 90 visit of the first 210 subjects randomized and treated in the Phase 3 NEWTON 2 study of EG-1962 demonstrated a low probability of achieving a statistically-significant difference compared to the standard of care in the study’s primary endpoint, if the study is fully enrolled.” As a result, the Data Monitoring Committee “recommended that the study be stopped based on its conclusion that the study has a low probability of meeting its primary endpoint.” Based on the DMC recommendation, Edge Therapeutics stated that it has decided to discontinue the Phase 3 NEWTON 2 study.

On this news, shares of Edge Therapeutics fell $14.28 per share to close at $1.31 per share on March 28, 2018.

Plaintiff seeks to recover damages on behalf of all Edge Therapeutics, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Friday, June 22, 2018 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995. 

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