Lawsuit filed for Investors in shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA)

An investor, who purchased shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA), filed a lawsuit over alleged Securities Laws violations by Centessa Pharmaceuticals plc in connection with certain allegedly false and misleading statements made in connection with the Company's initial public offering conducted on or about May 28, 2021 (the "IPO" or "Offering") and between May 28, 2021 and June 1, 2022.

Investors who purchased shares of Centessa Pharmaceuticals plc (NASDAQ: CNTA), have certain options and for certain investors are short and strict deadlines running. Deadline: November 28, 2022. NASDAQ: CNTA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

United Kingdom based Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Centessa Pharmaceuticals' development pipeline includes, among other products, lixivaptan, a vasopressin V2 receptor small molecule inhibitor in Phase 3 clinical development for the treatment of autosomal dominant polycystic kidney disease ("ADPKD"); and ZF874, a small molecule pharmacological chaperone folding corrector of the Z variant of the DNA encoding protein alpha-1-antitrypsin ("A1AT"), which is in Phase 1 clinical development for the treatment of A1AT deficiency ("AATD").

On April 21, 2021, Centessa Pharmaceuticals plc filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") in connection with the IPO, which, after several amendments, was declared effective by the SEC on May 27, 2021 (the "Registration Statement").

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.

On June 1, 2021, Centessa Pharmaceuticals plc filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, collectively with the Registration Statement, the "Offering Documents").

On November 1, 2021, Centessa Pharmaceuticals plc announced results from the Phase 1 study evaluating ZF874 in treating AATD, including, among other results, potential safety issues related to increases in liver enzymes alanine aminotransferase ("ALT") and aspartate aminotransferase ("AST") in one of the study subjects.

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.

The plaintiff claims that, the Offering Documents and between May 28, 2021 and June 1, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that lixivaptan was less safe than Defendants had represented, that Defendants overstated lixivaptan's clinical and commercial prospects, that ZF874 was less safe than Defendants had represented; (iv) Defendants overstated ZF874's clinical and commercial prospects while downplaying the drug's safety issues, and that as a result, the Offering Documents and the Company's public statements between May 28, 2021 and June 1, 2022were materially false and/or misleading and failed to state information required to be stated therein.

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.