San Diego, CA -- (SBWIRE) -- 11/30/2023 -- An investor, who purchased shares of SCYNEXIS, Inc. (NASDAQ: SCYX), filed a lawsuit over alleged violations of Federal Securities Laws by SCYNEXIS, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of SCYNEXIS, Inc. (NASDAQ: SCYX) have certain options and for certain investors are short and strict deadlines running. Deadline: January 08, 2024. NASDAQ: SCYX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Jersey City, NJ based SCYNEXIS, Inc., a biotechnology company, develops products for the treatment of fungal infections in the United States.

On September 25, 2023, SCYNEXIS, Inc reported that, following a recent review of the manufacturing process and equipment at the vendor that manufactures the ibrexafungerp drug substance, the Company became aware of potential cross contamination of ibrexafungerp with a non-antibacterial beta-lactam drug substance. As the Company explained, "[c]urrent FDA guidance recommends segregating the manufacture of beta-lactam compounds from other compounds since beta-lactam compounds have the potential to act as sensitizing agents that may trigger hypersensitivity or an allergic reaction in some people." The Company therefore declared it would conduct a recall of BREXAFEMME from the market and place a temporary hold on clinical studies of ibrexafungerp, including a Phase 3 clinical study, until a mitigation strategy and a resupply plan are determined.

Shares of SCYNEXIS, Inc. (NASDAQ: SCYX) declined from $3.87 per share on September 05, 2023, to as low as $1.625 per share on October 24, 2023.

The plaintiff claims that between March 31, 2023 and September 22, 2023 the Defendants failed to disclose to investors that the equipment used to manufacture ibrexafungerp was also used to manufacture a non-antibacterial beta-lactam drug substance, presenting a risk of cross-contamination, that the Company did not have effective internal controls and procedures, as well as adequate internal oversight policies to ensure that its vendor complied with current Good Manufacturing Practices (cGMP), that, due to the substantial risk of cross-contamination, Scynexis was reasonably likely to recall its ibrexafungerp tablets and halt its clinical studies, and that as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of SCYNEXIS, Inc. (NASDAQ: SCYX) 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

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.