NEW YORK, Sept. 3, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation into potential securities lawsuits on behalf of shareholders of Centessa Pharmaceuticals plc (NASDAQ: CNTA) arising from 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 for autosomal dominant polycystic kidney disease (ADPKD), including the phase 3 ACTION study and the open-label ALERT study.” Centessa stated that “[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 on June 2, 2022 at $3.25 per ADS.

Then, on August 10, 2022, Centessa issued a press release announc[ing] his decision to continue development of ZF874 after a recent…