NEW YORK, March 17, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been
filed against SCYNEXIS, Inc. (“Scynexis” or the “Company”) (NASDAQ:SCYX) in the United States District Court for the District of
New Jersey. The filed complaint is on behalf of a class consisting of investors who purchased or otherwise acquired Scynexis
securities: (1) pursuant and/or traceable to Scynexis’ false and misleading Registration Statement and Prospectus, issued in
connection with the Company’s initial public offering on or about May 2, 2014 (the “IPO” or the “Offering”); and/or (2) on the open
market between May 2, 2014 and March 2, 2017, both dates inclusive (the “Class Period”).
Investors who have incurred losses in the shares of SCYNEXIS, Inc. are urged to contact
the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information
concerning the action on our website, www.whafh.com.
If you have purchased shares of SCYNEXIS, Inc. and would like to assist with the litigation
process, you may, no later than May 8, 2017, request that the Court appoint you lead plaintiff of the proposed
class.
Scynexis, Inc. is a pharmaceutical company that develops and distributes intravenous drugs for the treatment of
serious and life-threatening invasive fungal infections in humans.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Scynexis’ lead product 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 of the foregoing, Scynexis’ public statements were materially false
and misleading at all relevant times.
On March 2, 2017, after the close of trading, Scynexis issued a press release, entitled “Scynexis delays
initiation of new clinical studies using the IV formulation of SCY-078 at FDA’s request,” announcing the FDA’s clinical hold on
clinical trials for the intravenous formulation of the Company's lead product candidate SCY-078. The Company stated
that “[t]he clinical hold decision was issued by the FDA following a review of three mild-to-moderate thrombotic events in
healthy volunteers receiving the IV formulation of SCY-078 at the highest doses and highest concentrations in a Phase 1
study.” On this news, Scynexis’ share price fell $0.57, or 17.43%, to close at $2.70 on March 3, 2017.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and
derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various
practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case,
please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
