Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ZYMERGEN INC.

(ZY)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Zymergen Inc. and Encourages Investors to Contact the Firm

10/01/2021 | 07:01pm EST

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors that purchased or otherwise acquired Zymergen Inc. (“Zymergen” or the “Company”) (NASDAQ: ZY) securities pursuant and/or traceable to the offering documents issued in connection with Zymergen’s April 2021 initial public offering (the “IPO”). Investors have until October 4, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

In April 2021, Zymergen completed its IPO, selling approximately 18.5 million shares of common stock at $31 per share.

On August 3, 2021, after the market closed, Zymergen issued a business update stating that it “recently became aware of issues with its commercial product pipeline that will impact the Company’s delivery timeline and revenue projections.” Specifically, “several key target customers encountered technical issues in implementing Hyaline into their manufacturing processes,” and Zymergen also found that its total addressable market appears to be smaller than previously expected. As a result, Zymergen “no longer expects product revenue in 2021, and expects product revenue to be immaterial in 2022.” The Company also announced that its CEO was stepping down, effective immediately.

On this news, the Company’s stock price fell $26.58 per share, or 76%, to close at $8.25 per share on August 4, 2021, representing a nearly 73% decline from the IPO price.

The Registration Statement was materially false and misleading and omitted to state material adverse facts. Specifically, Defendants failed to disclose to investors: (1) that, during the qualification process for Hyaline, key customers had encountered technical issues, including product shrinkage and incompatibility with customers’ processes; (2) that, though the qualification process was critical to achieving market acceptance for Hyaline and generating revenue, Zymergen lacked visibility into the qualification process; (3) that, as a result, the Company overestimated demand for its products; (4) that, as a result of the foregoing, the Company’s product delivery timeline was reasonably likely to be delayed, which in turn would delay revenue generation; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

If you purchased Zymergen shares pursuant and/or traceable to the IPO and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.


ę Business Wire 2021
All news about ZYMERGEN INC.
11/22INSIDER BUY : Zymergen
MT
11/15ZYMERGEN INC. Management's Discussion and Analysis of Financial Condition and Results ..
AQ
11/11The Law Offices of Frank R. Cruz Announces Investigation of Zymergen Inc. (ZY) on Behal..
BU
11/10Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigati..
BU
11/03ZYMERGEN : Q3 Earnings Snapshot
AQ
11/03Zymergen Reports Preliminary Third Quarter 2021 Financial Results and Provides Business..
PU
11/03Earnings Flash (ZY) ZYMERGEN Reports Q3 Revenue $4.1M, vs. Street Est of $3.41M
MT
11/03Zymergen Reports Preliminary Third Quarter 2021 Financial Results and Provides Business..
AQ
10/26Zymergen to Report Third Quarter 2021 Financial Results on November 3, 2021
GL
10/21ZYMERGEN INC. : Entry into a Material Definitive Agreement, Costs Associated with Exit or ..
AQ
More news
Analyst Recommendations on ZYMERGEN INC.
More recommendations
Financials (USD)
Sales 2021 16,5 M - -
Net income 2021 -372 M - -
Net cash 2021 309 M - -
P/E ratio 2021 -1,88x
Yield 2021 -
Capitalization 885 M 885 M -
EV / Sales 2021 34,9x
EV / Sales 2022 47,4x
Nbr of Employees 758
Free-Float 90,7%
Chart ZYMERGEN INC.
Duration : Period :
Zymergen Inc. Technical Analysis Chart | ZY | US98985X1000 | MarketScreener
Technical analysis trends ZYMERGEN INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 7
Last Close Price 8,64 $
Average target price 9,50 $
Spread / Average Target 9,95%
EPS Revisions
Managers and Directors
Jay T. Flatley Chairman & Chief Executive Officer
Enakshi Singh Chief Financial Officer
Zachariah Serber Director & Chief Science Officer
Jed Dean Vice President-Operations & Engineering
Aaron Kimball Chief Technology Officer
Sector and Competitors
1st jan.Capi. (M$)
ZYMERGEN INC.0.00%885
SHIN-ETSU CHEMICAL CO., LTD.5.07%69 744
BASF SE-8.71%61 641
DUPONT DE NEMOURS, INC.5.86%38 231
ROYAL DSM N.V.35.51%36 849
PIDILITE INDUSTRIES LIMITED26.64%14 971