Cortexyme Investor Alert: Kaplan Fox Investigates Potential Securities Fraud At Cortexyme, Inc.

Cortexyme Investor Alert: Kaplan Fox Investigates Potential Securities Fraud At Cortexyme, Inc.

NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Cortexyme, Inc. (“Cortexyme” or the “Company”) (Nasdaq: CRTX), a clinical stage biopharmaceutical company.

On August 9, 2021, before the market opened, Cortexyme issued a press release providing a business update regarding its GAIN trial for disease modification in Alzheimer’s disease. Among other things Cortexyme’s chief executive officer, co-founder and chair was quoted as stating “[e]vidence demonstrating a causal link between the infectious pathogen P. gingivalis and neurodegeneration continues to grow. . . .” Additionally, the Company’s chief medical officer stated “Cortexyme is confident that we have enrolled the right population and that the study is powered to show a meaningful treatment effect.”

Following this news, Cortexyme’s shares increased by $31.77 per share, more than 47%, on August 9, 2021 to close at $98.91 per share. The next day Cortexyme’s shares increased in price by an additional $21.30 per share, or 21.5%, to close at $120.21 per share on August 10, 2021.

On October 26, 2021 after the market closed, Cortexyme issued a press release "report[ing] top-line results from its Phase 2/3 GAIN Trial, a double-blind, placebo-controlled study evaluating the efficacy of atuzaginstat (COR388), an investigational orally administered small-molecule that targets gingipain proteases from the bacterium Porphyromonas gingivalis (P. gingivalis)." The press release reported that the study “did not meet statistical significance in its co-primary cognitive and functional endpoints . . .” in patients with mild-to-moderate Alzheimer's disease.

Following this news, Cortexyme's stock price plummeted $44.17 per share, more than 76%, to close at $13.51 per share on October 27, 2021.

If you purchased or otherwise acquired Cortexyme securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:

Frederic S Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: [email protected]