McCune Law Group Investigates Bringing Class Action Against Centessa Pharmaceuticals Over Misleading Statements for Their Products

Centessa Pharmaceuticals (NASDAQ: CNTA) develops multiple medical products such as lixivaptan, a vasopressin V2 receptor small molecule inhibitor in Phase 3 clinical development for the treatment of autosomal dominant polycystic kidney disease. Centessa also is developing a small molecule pharmacological chaperon folding corrector of the Z variant of the DNA encoding protein alpha-1-antitrypsin, ZF874, which is in Phase 1 clinical development for the treatment of A1AT deficiency. On May 28, 2021, Centessa conducted the Initial Public Offering, issuing 16.5 million of its securities to the public at the price of $20 per security.

McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt APC (MLG) is investigating claims that Centessa made false statements and/or concealed that: (1) the company’s product, lixivaptan, was less safe than defendants had represented; (2) defendants overstated lixivaptan’s clinical and commercial prospects; (3) another Centessa product, ZF874, was less safe than it had been represented; (4) Centessa overstated ZF874’s clinical and commercial prospects while downplaying the drugs safety issues; and (5) as a result, documents issued in connection with Centessa’s initial public offering and the company’s public statements throughout the class period were materially false and/or misleading and failed to state information required.

If you invested in Centessa Pharmaceuticals between May 28, 2021, and August 10, 2022, and have suffered significant losses or damages due to their alleged misleading statements, contact our Securities Litigation team today by completing the form or calling (909) 345-8110 to set up a free consultation. Investors have until November 28, 2022, to seek out an appointment as lead plaintiff.

Investors Suffered Significant Losses

On November 1, 2021, Centessa announced results from the phase 1 study evaluating ZF874 in treating AATD, including among other results, potential safety issues related to increases in liver enzymes. Because of this news, Centessa’s security price fell by more than 18%. Then, on June 2, 2022, Centessa announced that it had made a strategic decision to discontinue development of lixivaptan. Because of this news, Centessa’s security price fell by nearly 28%. Lastly, on August 10, 2022, Centessa announced its decision to discontinue development of ZF874 following a recent report of an adverse event involving liver enzymes. Centessa discontinued development due to the unlikely chance to achieve the desired outcome. Because of this news, Centessa’s security price fell by an additional 5% — an overall total of 51%.

If you have experienced significant losses due to Centessa’s alleged misleading statements, contact us today by filling out the form or calling (909) 345-8110 to arrange a free consultation. Investors seeking appointment as lead plaintiff must file by November 28, 2022.

Handling This Investigation

Portrait of Elaine S. Kusel, Partner of McCune Law Group
Elaine S. Kusel

Elaine S. Kusel, who joined McCune Law Group, Vercoski, Kusel, Weck, Brandt, APC, (MLG), in 2008 and leads the firm’s New Jersey office. As a nationally renowned class action attorney, she performs a significant role in the firm’s Consumer Fraud Class Action and Securities Litigation divisions.

After graduating from law school, her practice had included fraud litigation, mass torts, and international human rights law. Ms. Kusel has been integral to the successful recovery of multi-million-dollar settlements and verdicts for wronged consumers and investors.

Portrait of Sherief Morsy, Associate of McCune Law Group
Sherief Morsy

Sherief Morsy joined the McCune Law Group, Vercoski, Kusel, Weck, Brandt, APC, (MLG), New Jersey office in 2020. His practice primarily focuses on consumer fraud class actions, Securities Litigation, and other complex litigation matters.

Prior to joining the firm, Mr. Morsy was a senior associate at a New York City law firm, whose practice focused on complex civil and class action litigation, including securities litigation, antitrust litigation, and consumer class actions. As he previously assisted investors in recovering their losses resulting from corporate securities fraud, he now focuses that experience at McCune Law Group in assisting people who have been victimized by deceptive business practices or other corporate wrongdoing.

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