NEW YORK, Sept. 3, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation into potential securities claims on behalf of Centessa Pharmaceuticals plc shareholders CNTA based on allegations that Centessa may have disclosed materially misleading business information to the investing public.

SO WHAT: If you have purchased Centessa securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=8067 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] or [email protected] for information about the Class Action.

WHAT IS THIS ABOUT: On or about May 27, 2021, Centessa completed its initial public offering (“IPO”), selling 16.5 American Depositary Shares (“ADSs”) at a price of $20.00 per share.

Then, on June 2, 2022, Centessa issued a press release announc[ing] that it made the strategic decision to discontinue development of lixivaptan in autosomal dominant polycystic kidney disease (ADPKD), including both the phase 3 ACTION trial and the open-label ALERT trial.[t]The decision is based on a thorough reassessment of the commercial potential of lixivaptan as a potential best-in-class therapy for patients with ADPKD, as well as the incremental development challenges and associated costs following recent observation of alanine aminotransferase (ALT) and aspartate aminotransferase ( AST) elevations in one subject in the ALERT study.” As a result of this news, Centessa’s 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 issued a press release announc[ing] its decision to continue development of ZF874 following a recent report of an adverse event (AE) with…