Centessa Pharmaceuticals plc

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Centessa Pharmaceuticals plc (NASDAQ: CNTA) resulting from allegations that Centessa Pharmaceuticals may have issued materially misleading business information to the investing public.

If you purchased Centessa Pharmaceuticals securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Centessa Pharmaceuticals securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On or around May 27, 2021, Centessa Pharmaceuticals conducted its initial public offering (“IPO”), selling 16.5 American depositary shares (“ADSs”) priced at $20.00 per share.

Then, on June 2, 2022, Centessa Pharmaceuticals issued a press release “announc[ing] that it has made the strategic decision to discontinue development of lixivaptan for Autosomal Dominant Polycystic Kidney Disease (ADPKD) including both the Phase 3 ACTION Study and the open-label ALERT Study.” Centessa specified that “[t]he decision is based on a thorough reassessment of the commercial potential of lixivaptan as a potential best-in-class therapy for patients with ADPKD, and the incremental development challenges and associated costs, following a recent observation of alanine aminotransferase (ALT) and aspartate aminotransferase (AST) elevations in one subject in the ALERT Study.” On this news, Centessa Pharmaceuticals’ ADS price fell $1.25 per ADS, or 27%, to close at $3.25 per ADS on June 2, 2022.

Then, on August 10, 2022, Centessa Pharmaceuticals issued a press release “announc[ing] its decision to discontinue development of ZF874 following a recent report of an adverse event (AE) involving elevated liver enzymes (AST/ALT) in a PiMZ subject dosed with 5 mg/kg BID of ZF874 in the Phase 1 study.” Centessa Pharmaceuticals stated that “[b]ased on the results observed to date, the Company concluded that ZF874 was unlikely to achieve the desired target product profile.” On this news, Centessa Pharmaceuticals’ ADS price fell 5% per ADS to close at $4.75 per ADS on August 10, 2022.

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Company Name: Centessa Pharmaceuticals plc
Stock Symbol: CNTA
Class Period: N/A
Court: N/A

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