Centessa Pharmaceuticals Plc (NASDAQ:CNTA) Investor Alert: Investigation over Potential Wrongdoing
An investigation on behalf of investors in Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares over potential wrongdoing at Centessa Pharmaceuticals plc was announced and NASDAQ: CNTA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 10/05/2022 --An investigation on behalf of investors in shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA) was announced over potential breaches of fiduciary duties by certain officers and directors at Centessa Pharmaceuticals plc.
Investors who purchased shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Centessa Pharmaceuticals directors breached their fiduciary duties and caused damage to the company and its shareholders.
United Kingdom based Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients.
On or around May 27, 2021, Centessa Pharmaceuticals plc conducted its initial public offering ("IPO"), selling 16.5 American depositary shares ("ADSs") priced at $20.00 per share.
Then, on June 2, 2022, Centessa Pharmaceuticals plc issued a press release "announc[ing] that it has made the strategic decision to discontinue development of lixivaptan for Autosomal Dominant Polycystic Kidney Disease (ADPKD) including both the Phase 3 ACTION Study and the open-label ALERT Study." Centessa specified that "[t]he decision is based on a thorough reassessment of the commercial potential of lixivaptan as a potential best-in-class therapy for patients with ADPKD, and the incremental development challenges and associated costs, following a recent observation of alanine aminotransferase (ALT) and aspartate aminotransferase (AST) elevations in one subject in the ALERT Study."
Then, on August 10, 2022, Centessa Pharmaceuticals plc issued a press release "announc[ing] its decision to discontinue development of ZF874 following a recent report of an adverse event (AE) involving elevated liver enzymes (AST/ALT) in a PiMZ subject dosed with 5 mg/kg BID of ZF874 in the Phase 1 study." Centessa Pharmaceuticals stated that "[b]ased on the results observed to date, the Company concluded that ZF874 was unlikely to achieve the desired target product profile."
Shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA) declined to $3.89 per share on August 15, 2022.
Those who purchased shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA) have certain options and should contact the Shareholders Foundation.
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View this press release online at: http://rwire.com/1364405