Investigation announced for Investors in shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA)

An investigation was announced for investors of Centessa Pharmaceuticals plc (NASDAQ: CNTA) shares over potential securities laws violations by Centessa Pharmaceuticals plc.

Investors who purchased shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Centessa Pharmaceuticals plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.