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id: 329, Created by Stan Vick, Scout
Centessa Pharmaceuticals PLC ADR
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On June 1, 2021, Centessa filed a prospectus with the SEC in connection with the IPO. The Company issued 16.5 million of its ADSs to the public at the Offering price of $20 per ADS, for proceeds of $306.9 million.
Further, after the IPO, in 2021 and 2022, in the course of press releases and reports, the Company released news that had a negative impact on the share price. In particular:
- On November 1, 2021, Centessa issued a press release announcing results from the Phase 1 study evaluating ZF874 in treating AATD, including, among other results, potential safety issues related to increases in liver enzymes alanine aminotransferase (ALT) and aspartate aminotransferase (AST) in one of the study subjects.
- On June 2, 2022, the Company announced that "it has made the strategic decision to discontinue development of lixivaptan for (ADPKD)” citing “a recent observation of ALT and AST elevations in one subject” from a Phase 3 study of lixivaptan that was designed to assess liver and non-liver safety in certain subjects.
- On August 10, 2022, Centessa announced its decision "to discontinue development of ZF874 following a recent report of an adverse event involving elevated liver enzymes (AST/ALT) in a . . . subject dosed with 5 mg/kg BID of ZF874 in the Phase 1 study.” The Company concluded that “based on the results observed to date, the Company concluded that ZF874 was unlikely to achieve the desired target product profile.”
Taking the information and representations that were disclosed to investors during the IPO and subsequent results into account, investors have reasons to suspect that the Company, its Leaders, and other entities involved in the organization of the IPO did not properly disclose the information and the statements made did not correspond to reality.
Failure to Disclose,
Breach of Fiduciary duty,
Depository Securities (ADS, ADR, GDR)
Shock Event Date
01 June 2021