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NEW YORK, March 18, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cortexyme, Inc. ("Cortexyme" or the "Company") (NASDAQ: CRTX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Cortexyme and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 15, 2021, Cortexyme announced receipt of "a letter from the U.S. Food and Drug Administration (FDA) stating that a partial clinical hold has been placed on atuzaginstat (COR388) impacting the open-label extension (OLE) phase of the company's ongoing Phase 2/3 study, the GAIN Trial." Cortexyme advised that, as a result of the partial clinical hold, "no new participants will be enrolled in the OLE and currently enrolled OLE participants will be discontinued." According to the Company, "[t]he partial clinical hold was initiated following the review of hepatic adverse events in the atuzaginstat trial by the FDA."
On this news, Cortexyme's stock price fell $16.75 per share, or 35.29%, to close at $30.72 per share on February 16, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP