July 17, 2013 / 10:28 AM / 4 years ago

Neurosearch says prosecuted for share price manipulation

STOCKHOLM, July 17 (Reuters) - Danish biopharmaceutical firm Neurosearch said on Wednesday it was being prosecuted for share price manipulation.

Neurosearch said in a statement the charges related to an statement in February 2010 in which the company reported positive results from a phase 3 study with its drug Huntexil for the treatment of Huntington’s disease.

The company released a corrective announcement in April the same year after the data had been reassessed.

“On the present basis, Neurosearch is denying the charges and is collaborating fully with the authorities in order to resolve the matter,” Neurosearch said in a statement.

The company earlier this year began negotiations to cut the majority of its staffs in the wake of a deal to sell the Huntexil project to Teva Pharmaceutical Industries. (Reporting by Anna Ringstrom)

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