An investigation for investors in Cortexyme, Inc. (NASDAQ:CRTX) shares over potential securities laws violations by Cortexyme, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 02/24/2022 -- Cortexyme, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Cortexyme, Inc. (NASDAQ: CRTX), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Cortexyme, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Francisco, CA based Cortexyme, Inc., a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders.
On October 26, 2021, Cortexyme, Inc. issued a press release "report[ing] top-line results from its Phase 2/3 GAIN Trial, a double-blind, placebo-controlled study evaluating the efficacy of atuzaginstat (COR388), an investigational orally administered small-molecule that targets gingipain proteases from the bacterium Porphyromonas gingivalis (P. gingivalis)." The press release reported, in relevant part, that the study had failed to meet statistical significance in its co-primary endpoints of improving cognitive and functional abilities in patients with mild-to-moderate Alzheimer's disease.
Then, on January 26, 2022, Cortexyme disclosed receipt of a letter from the U.S. Food and Drug Administration ("FDA") advising that the FDA had "plac[ed] a full clinical hold on atuzaginstat's (COR388) Investigational New Drug application (IND 134303)."
Shares of Cortexyme, Inc. (NASDAQ: CRTX) declined from $98.50 per share on Octboer 5, 2021, to as low as $5.31 per share on January 28, 2022.
Those who purchased shares of Cortexyme, Inc. (NASDAQ: CRTX) have certain options and should contact the Shareholders Foundation.
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