NEW YORK, NY / ACCESSWIRE / October 23, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Mynaric AG ("Mynaric" or the "Company") (NASDAQ:MYNA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Mynaric and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 20, 2024, Mynaric issued a press release providing an update to its full-year 2024 guidance, advising that "the company now expects full-year 2024 IFRS-15 revenue to range between EUR 16.0 million to EUR 24.0 million compared to previous guidance of a range between EUR 50.0 million to EUR 70.0 million", citing "production delays of CONDOR Mk3 caused by lower than expected production yields and component supplier shortages of key components"; and that "the company now expects full-year 2024 operating loss to range between a loss of EUR 55.0 million to EUR 50.0 million compared to previous guidance of a range between a loss of EUR 40.0 million to EUR 30.0 million", citing "the lower than expected revenue and higher than expected production costs due to lower yields." In a separate press release, Mynaric "announce[d] the voluntary departure of CFO Stefan Berndt von-Bülow for personal reasons, effective last week."
On this news, Mynaric's stock price fell $2.32 per share, or 55.9%, to close at $1.83 per share on August 20, 2024.
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SOURCE: Pomerantz LLP
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