LOS ANGELES, April 25, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against SCYNEXIS, Inc. ("SCYNEXIS" or the "Company") (Nasdaq: SCYX) concerning possible violations of federal securities laws. Investors who purchased SCYNEXIS securities: (1) pursuant or traceable to the Company's initial public offering on or about May 2, 2014; and/or (2) from May 2, 2014 through March 2, 2017, inclusive (the "Class Period") should contact the firm prior to the May 8, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint alleges that during the Class Period, SCYNEXIS made false and/or misleading statements and/or failed to disclose: that the Company's lead product, SCY-078, posed substantial undisclosed health and safety risks; that SCYNEXIS overstated the drug's approval prospects and/or commercial viability; and as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On March 2, 2017, SCYNEXIS announced that the U.S. Food & Drug Administration "informed the Company to hold the initiation of any new clinical studies with the intravenous (IV) formulation of SCY-078 until the FDA completes a review of all available pre-clinical and clinical data" of the formulation. The hold stems from "three mild-to-moderate thrombotic events in healthy volunteers" receiving the formulation. Upon release of this news, shares of SCYNEXIS dropped in value materially, which harmed investors according to the Complaint.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles devoted to upholding shareholders' rights.
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SOURCE Lundin Law PC