An investigation for investors in Menlo Therapeutics Inc. (NASDAQ: MNLO) shares over potential securities laws violations by Menlo Therapeutics Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/05/2018 -- Menlo Therapeutics Inc. (NASDAQ: MNLO) is under investigation over possible violations of potential securities laws by Menlo Therapeutics Inc. in connection with certain financial statements.
Investors who purchased shares of Menlo Therapeutics Inc. (NASDAQ: MNLO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain statements by Menlo Therapeutics Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Menlo Therapeutics Inc., a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. Menlo Therapeutics Inc. went public in early 2018.
On March 28, 2018, Menlo Therapeutics Inc. reported its fourth quarter and full year 2017 financial results and provided its financial outlook for the full year 2018. Menlo Therapeutics Inc. reported that its annual Total Revenue rose from $0.674 million in 2016 to $4.582 million in 2017 and that its Net loss rose from $14.068 million to $29.076 million in 2017.
Furthermore, Menlo Therapeutics Inc. stated that for the full year 2018, it expects operating expenses in the range of approximately$77.0 to $87.0 million, including stock-based compensation of approximately $3.0 to $6.0 million.
On May 9, 2018, Menlo Therapeutics Inc reported its first quarter 2018 financial results. Menlo Therapeutics Inc reported a net loss of $12.7 million for the first quarter of 2018, compared to a net loss of $5.5 million for the same period in 2017. Furthermore, Menlo Therapeutics Inc, adjusted its financiaul outlook for the full year 2018. Menlo Therapeutics Inc said that it is lowering its operating expense guidance for the full year 2018 to a range of approximately $68.0 to $78.0 million.
Those who purchased shares of Menlo Therapeutics Inc. (NASDAQ: MNLO) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com