The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Maryland on behalf of those who acquired MacroGenics, Inc. securities during the period of March 7, 2024 to May 9, 2024, inclusive (“the Class Period”). Investors have until September 24, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On May 9, 2024, MacroGenics announced in a press release that a total of five fatal outcomes had occurred in its TAMARACK Phase 2 study of vobramitamab duocarmazine in patients with metastatic astration resistant prostate cancer. On this news, the price of MacroGenics shares declined by $11.36 per share, or approximately 77.4%, from $14.67 per share on May 9, 2024 to close at $3.31 on May 10, 2024.
The lawsuit alleges that the Company made material misrepresentations by providing overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to early interim safety data results from the TAMARACK Phase 2 study.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
