Philadelphia, Pennsylvania--(Newsfile Corp. - December 20, 2023) - Attention SCYNEXIS, Inc. ("Scynexis") (NASDAQ: SCYX) Investors. A securities fraud class action lawsuit has been filed against Scynexis on behalf of purchasers of Scynexis's securities between March 31, 2023 and September 22, 2023, inclusive (the "Class Period").
CLICK HERE to learn more about the lawsuit.
Important deadline: Investors who purchased or acquired Scynexis securities during the Class Period may, no later than January 8, 2024, seek to be appointed as a lead plaintiff representative of the class.
The complaint alleges that on March 30, 2023, Scynexis entered into a license agreement with GSK plc for an exclusive license for the development, manufacture, and commercialization of ibrexafungerp, including the approved product BREXAFEMME, for all indications, in all countries other than Greater China and certain other countries. On March 31, 2023, Scynexis filed a Form 10-K for the period ended December 31, 2022 (the "2022 10-K"). The 2022 10-K attested to the fact that, "as of December 31, 2022, our disclosure controls and procedures were effective at the reasonable assurance level."
The lawsuit alleges that the truth about Scynexis emerged on September 25, 2023, when the Company announced that it "became aware that a non-antibacterial beta-lactam drug substance is manufactured using equipment common to the manufacturing process for ibrexafungerp." As a result, Scynexis recalled BREXAFEMME® (ibrexafungerp tablets) from the market and put a temporary hold in ibrexafungerp clinical studies "until a mitigation strategy and a resupply plan are determined."
Following this news, Scynexis's shares fell $1.13, or 34.14%, to close at $2.18 per share on September 25, 2023. The stock price continued to fall the next trading session by 11.47%, to close at $1.93 per share on September 26, 2023.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
jmaro@bm.net
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191687
