NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Scynexis, Inc. (“Scynexis” or the “Company”) (NASDAQ: SCYX). The investigation concerns whether Scynexis and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Scynexis, Inc. develops and distributes intravenous drug for the treatment of serious and life-threatening invasive fungal infections.
On September 25, 2023, Scynexis disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission that it would be recalling ibrexafungerp (Brexafemme) tablets from the market and placing a temporary hold on clinical studies of ibrexafungerp. The Company stated that, following a GSK manufacturing review, it became aware of “a non-antibacterial beta-lactam drug substance” being manufactured on equipment common to the manufacturing process for ibrexafungerp. According to FDA guidance, the contaminating compound has the potential to trigger hypersensitivity or an allergic reaction in those who take ibrexafungerp. On this news, the price of Scynexis shares declined by $1.13 per share, or approximately 34.14%, from $3.31 per share to close at $2.18 on September 25, 2023.
If you purchased or otherwise acquired Scynexis securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.
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