NEW YORK, March 15, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in
SCYNEXIS, Inc. (“SCYNEXIS” or the “Company”) (NASDAQ:SCYX) of the May 8, 2017 deadline to seek the role of lead plaintiff in a
federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased
SCYNEXIS securities in connection with the Company’s initial public offering on or about May 2, 2014 (the “IPO”); and/or between
May 2, 2014 and March 2, 2017 (the “Class Period”). The case, GIBSON v. SCYNEXIS, INC. et al, 2:17-cv-01565 was
filed on March 8, 2017, and has been assigned to Judge Katharine Sweeney Hayden.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading
statements and/or failing to disclose that: (i) SCYNEXIS’ lead product candidate, SCY-078, entailed substantial undisclosed health
and safety risks; (ii) consequently, the Company had overstated the drug’s approval prospectus and/or commercial viability; and
(iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Specifically, after market close on March 2, 2017, SCYNEXIS announced that the Food and Drug Administration (“FDA”) had placed a
clinical hold on clinical trials for the intravenous formulation of the Company's lead product candidate SCY-078.
On this news, SCYNEXIS’ share price fell from $3.27 per share on March 2, 2017 to a closing price of $2.70 on March 3, 2017—a
$0.57 or a 17.43% drop.
Request more information now by clicking here: www.faruqilaw.com/SCYX. There is no cost or obligation to you.
Take Action
If you invested in SCYNEXIS securities pursuant to the IPO and/or during the Class Period and would like to discuss your legal
rights, visit www.faruqilaw.com/SCYX. You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information
regarding SCYNEXIS’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as
a lead plaintiff.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to
any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. rgonnello@faruqilaw.com Telephone: (877) 247-4292 or (212) 983-9330
