--- title: "Unicycive discloses another securities class action over its OLC application" url: "https://aibio.space/news/unicycive-discloses-another-securities-class-action-olc-application/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-09-28" section: "Legal" tickers: "NASDAQ:UNCY" source: "https://www.sec.gov/Archives/edgar/data/1766140/000121390026104076/ea0306890-8k_unicycive.htm" summary: "Unicycive disclosed in an 8-K dated September 28, 2026 that a second securities class action was filed on September 3, 2026 against the company and certain" --- By the aibio.space news desk. Sources - [Unicycive Therapeutics Form 8-K dated September 28, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1766140/000121390026104076/ea0306890-8k_unicycive.htm) - [Unicycive Therapeutics 10-Q for the quarter ended June 30, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1766140/000121390026088013/ea0300450-10q_unicycive.htm) - [Unicycive Therapeutics proxy statement filed April 30, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1766140/000121390025037613/ea0239611-def14a_unicycive.htm) - [Unicycive Therapeutics 10-K for 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1766140/000121390026035903/ea0281982-10k_unicycive.htm) [UNCY](https://aibio.space/companies/unicycive-therapeutics/) 2026-09-28 # Unicycive discloses another securities class action over its OLC application Tickers [UNCY](https://aibio.space/companies/unicycive-therapeutics/) Unicycive disclosed in an 8-K dated September 28, 2026 that a second securities class action was filed on September 3, 2026 against the company and certain of its officers over its oxylanthanum carbonate application. An earlier class action and two derivative suits are pending in the same federal court. ## Key facts - **Company**: Unicycive Therapeutics, Inc. (NASDAQ: UNCY) - **News type**: Legal - **Primary source**: [Unicycive Therapeutics Form 8-K dated September 28, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1766140/000121390026104076/ea0306890-8k_unicycive.htm) *Stone columns of a government building. Photo: The Building Envelope, CC0, via StockSnap. The picture shows the field, not the companies named.* Unicycive Therapeutics, Inc. (Nasdaq: [UNCY](https://aibio.space/companies/unicycive-therapeutics/)) disclosed in an [8-K dated September 28, 2026](https://www.sec.gov/Archives/edgar/data/1766140/000121390026104076/ea0306890-8k_unicycive.htm) that a securities class action was filed on September 3, 2026 in the U.S. District Court for the Northern District of California. The defendants are the company and certain of its officers. The suit concerns the company's public statements about its new drug application for oxylanthanum carbonate, known as OLC. The 8-K gives no case number, plaintiff, class period or officer names, and it does not say whether the suit is related to the earlier case. The company says it believes the claims are without merit and will defend the suits vigorously. The earlier case is Elkhodari v. Unicycive Therapeutics, Inc., et al., Case No. 3:25-cv-06923-JD, filed August 15, 2025 in the same court. According to the company's [10-Q filed August 12, 2026](https://www.sec.gov/Archives/edgar/data/1766140/000121390026088013/ea0300450-10q_unicycive.htm), it names Unicycive and certain current officers and/or directors. The 10-Q does not identify them. Two derivative suits and a stockholder demand rest on the same allegations. ## The earlier class action Elkhodari alleges that Unicycive made material misrepresentations or omissions about its manufacturing of OLC and the approval prospects of its new drug application. The drug is intended to treat hyperphosphatemia in chronic kidney disease patients on dialysis. The claims arise under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. The putative class covers people who bought the company's securities between March 29, 2024 and June 27, 2025, inclusive. It seeks unspecified damages, costs and attorneys' fees. ## The derivative suits Two stockholders filed derivative complaints in the same court on October 30 and November 7, 2025. They name certain current officers and directors, with Unicycive as nominal defendant. They allege breach of fiduciary duty, unjust enrichment, gross mismanagement, waste of corporate assets and violations of Section 14(a) of the Exchange Act, and seek unspecified damages, corporate governance reforms, disgorgement and restitution. On March 12, 2026, another stockholder demanded that the board sue current and former officers and directors on the same allegations. ## Who the individuals are The filings name no individual defendants. The company's [proxy statement filed April 30, 2025](https://www.sec.gov/Archives/edgar/data/1766140/000121390025037613/ea0239611-def14a_unicycive.htm) says Shalabh Gupta, M.D., is chairman, chief executive officer and president, and names Sandeep Laumas, M.D., Saraswati Kenkare-Mitra, Ph.D., and Gaurav Aggarwal, M.D., as independent directors. John Townsend signed the September 8-K as chief financial officer. The filings do not say which of these people, if any, are defendants. ## Where it stands In Elkhodari, the lead plaintiff filed an amended complaint on January 27, 2026. The defendants moved to dismiss on March 13, 2026, the plaintiff opposed on April 27, and the defendants replied on May 27, 2026. The 10-Q reports no ruling. In the derivative cases, the court related them to the class action on November 20, 2025 and consolidated them on April 30, 2026. On July 29, 2026 it stayed them until the motion to dismiss in the class action is resolved. The board answered the stockholder demand on March 30, 2026, saying it would defer a final decision while the other cases are pending. ## What the company says Unicycive says it cannot reasonably estimate possible losses or a range of losses. It says expenses from the suits could be material to its financial statements whether or not it prevails. It also says it may not succeed in having the suits dismissed or settled within the limits of its insurance coverage. The 10-Q does not say how much coverage applies. ## The application behind the suits The company's [annual report filed March 30, 2026](https://www.sec.gov/Archives/edgar/data/1766140/000121390026035903/ea0281982-10k_unicycive.htm) says the FDA issued a Complete Response Letter on the OLC application in June 2025, after a third-party manufacturing vendor of its main contract manufacturer was cited for deficiencies in a cGMP inspection. Unicycive resubmitted in December 2025, and the FDA accepted the resubmission in January 2026 with a target action date of June 29, 2026. The company reported a net loss of $26.6 million for 2025 and used $31.3 million in operations, and the annual report says it will need to raise substantial additional capital. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story UNCY Unicycive Therapeutics, Inc. NASDAQ ยท United States Open the starter desk ## More in Legal Legal ### [Alnylam details Texas patent suit, two Cipla patent cases and a U.S. Attorney subpoena](https://aibio.space/news/alnylam-details-texas-patent-suit-two-cipla-patent-cases-u-s-attorney/) Oct 29, 2026 Legal ### [Viking and Ligand dispute VK2809 license termination in San Diego court](https://aibio.space/news/viking-ligand-dispute-vk2809-license-termination-san-diego-court/) Oct 29, 2026 Legal ### [Viking's ITC trade secret ruling against Ascletis is on appeal at Federal Circuit](https://aibio.space/news/vikings-itc-trade-secret-ruling-against-ascletis-appeal-federal/) Oct 29, 2026 --- Source page: https://aibio.space/news/unicycive-discloses-another-securities-class-action-olc-application/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Unicycive discloses another securities class action over its OLC application", 2026-09-28, https://aibio.space/news/unicycive-discloses-another-securities-class-action-olc-application/