Cases
Scynexis, Inc. (NASDAQ: SCYX)
Securities Class Action
Overview
Overview
- Date:
- 3/13/2017
- Company Name:
- Scynexis, Inc.
- Stock Symbol:
- SCYX
- Class Period:
- FROM 4/30/2014 TO 3/2/2017
- Status:
- Closed/Complete
- Court:
- U.S. Bankruptcy Court: District of New Jersey
NEW YORK, March 13, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who acquired Scynexis, Inc. (NASDAQ: SCYX) securities between April 30, 2014 and March 2, 2017 (the “Class Period”).
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’s 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’s public statements were materially false and misleading at all relevant times.
On March 2, 2017, post-market, Scynexis issued a press release, attached as Exhibit 99.1 on Form 8-K, 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’s share price fell $0.57, or 17.43%, to close at $2.70 on March 3, 2017.
If you purchased or otherwise acquired Scynexis securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
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’s 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’s public statements were materially false and misleading at all relevant times.
On March 2, 2017, post-market, Scynexis issued a press release, attached as Exhibit 99.1 on Form 8-K, 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’s share price fell $0.57, or 17.43%, to close at $2.70 on March 3, 2017.
If you purchased or otherwise acquired Scynexis securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.