Cortexyme, Inc. Investor Alert – Cortexyme Shareholders Who Have Suffered Losses On Their CRTX Investment Encouraged To Contact Kehoe Law Firm, P.C.
On January 26, 2022, Cortexyme, Inc. (“Cortexyme” or the “Company”) (NASDAQ: CRTX) announced that it received a letter from the U.S. Food and Drug Administration (“FDA”) on January 25, 2022, placing a full clinical hold on atuzaginstat’s (COR388) Investigational New Drug application (IND 134303). The Company also announced the immediate implementation of a cost reduction program to rationalize operations.
On this news, shares of Cortexyme dropped more than 30%, closing at $6.21 per share on January 26, 2022.
Cortexyme also reported that on February 2, 2022, the Company’s Board of Directors approved the previously announced cost reduction program to rationalize operations and to allow continued support for the needs of its business following the clinical hold on atuzaginstat’s (COR388) Investigational New Drug application (IND 134303). Under the cost reduction program, Cortexyme stated that it is reducing headcount by approximately 53% through a workforce reduction.
Cortexyme Shareholders Who Have Lost Money On Their Investment
Cortexyme investors who have suffered financial losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kehoe Law Firm, P.C., [email protected], to discuss potential legal claims.