Kirby McInerney LLP Reminds MacroGenics, Inc. (MGNX) Investors of Class Action Filing and Encourages Investors to Contact the Firm

Globe Newswire 7-Aug-2024 5:46 PM

NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- 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. ("MacroGenics" or the "Company") (NASDAQ:MGNX) 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.

[Click here to learn more about the class action]

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.

If you purchased or otherwise acquired MacroGenics securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

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. Additional information about the firm can be found at Kirby McInerney LLP's website.

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

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com