Unicycive Therapeutics CEO Shalabh Gupta and CFO John Townsend have been named as individual defendants in a securities class action covering investors who purchased the company’s securities from Dec. 29, 2025, through June 29, 2026. The complaint alleges the company failed to inspect or audit a third-party manufacturing vendor’s facility for compliance with current good manufacturing practices, lacked a reasonable basis to conclude the vendor had resolved FDA deficiencies and did not disclose the risk that the FDA would request more information or delay approval of oxylanthanum carbonate, or OLC. Unicycive shares fell $3.01, or 39.1%, to close at $4.69 on June 30, 2026, after the company disclosed a second FDA Complete Response Letter concerning its resubmitted New Drug Application for OLC. The case was filed in the U.S. District Court for the Northern District of California, and investors have until Nov. 2, 2026, to seek lead plaintiff appointment. The Law Offices of Frank R. Cruz issued a Sept. 9 notice inviting affected investors to learn more or participate.