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Case Status:    ONGOING    
On or around 10/15/2022 (Date of last review)

Filing Date: September 28, 2022

According to the Complaint, Centessa Pharmaceuticals plc a is a clinical-stage pharmaceutical company that purports to discover, develop, and deliver medicines to patients. The Company’s development pipeline includes, among other products, lixivaptan, a vasopressin V2 receptor small molecule inhibitor in Phase 3 clinical development for the treatment of ADPKD; and ZF874, a small molecule pharmacological chaperone folding corrector of the Z variant of the DNA encoding protein A1AT, which is in Phase 1 clinical development for the treatment of A1AT deficiency (“AATD”).

Centessa conducted an initial public offering on May 28, 2021. On June 1, 2021, Centessa filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement.

The Complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, the Complaint alleges Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects; specifically, that the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) lixivaptan was less safe than Defendants had represented; (ii) Defendants overstated lixivaptan’s clinical and commercial prospects; (iii) ZF874 was less safe than Defendants had represented; (iv) Defendants overstated ZF874’s clinical and commercial prospects while downplaying the drug’s safety issues; and (v) as a result, the Offering Documents and the Company’s public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

On October 12, 2022, the case was transferred to the Southern District of New York and continues under docket 22-CV-08805.

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