A lawsuit was filed on behalf of investors in SCYNEXIS Inc (NASDAQ:SCYX) shares over alleged securities laws violations. Deadline: May 8, 2017. NASDAQ:SCYX investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/14/2017 -- An investor, who purchased shares of SCYNEXIS Inc (NASDAQ:SCYX), filed a lawsuit in New Jersey over alleged Securities Laws violations by SCYNEXIS Inc.
Investors who purchased shares of SCYNEXIS Inc (NASDAQ:SCYX) have certain options and for certain investors are short and strict deadlines running. Deadline: May 8, 2017. NASDAQ:SCYX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of SCYNEXIS Inc (NASDAQ:SCYX) common shares in connection with the Company's initial public offering on or about May 2, 2014 (the "IPO" or the "Offering") and/or on the open market between May 2, 2014 and March 2, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the Defendants made allegedly false and/or misleading statements and/or failed to disclose that Scynexis's lead product SCY-078 entailed substantial undisclosed health and safety risks, that consequently, the Company had overstated the drug's approval prospectus and/or commercial viability, and that as a result of the foregoing, Scynexis's public statements were materially false and misleading at all relevant times.
Jersey City, NH based SCYNEXIS, Inc. is engaged in the discovery, development and commercialization of anti-infectives. SCYNEXIS Inc went public in May 2014.
On March 2, 2017, SCYNEXIS Inc announced that the U.S. Food and Drug Administration ("FDA") has placed a hold on clinical trials for the intravenous formulation of the Company's lead product candidate SCY-078 "until the FDA completes a review of all available pre-clinical and clinical data." SCYNEXIS advised investors that "[t]he clinical hold decision was issued by the FDA following a review of three mild-to-moderate thrombotic events in healthy volunteers receiving the IV formulation of SCY-078 at the highest doses and highest concentrations in a Phase 1 study." Shares of SCYNEXIS Inc (NASDAQ:SCYX) declined from $3.42 per share on March 2, 2017 to as low as $2.57 per share on March 3, 2017.
Those who purchased shares of SCYNEXIS Inc have certain options and should contact the Shareholders Foundation.
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