Full Press Release Details
SAN FRANCISCO, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges MacroGenics, Inc. (NASDAQ: MGNX) investors who suffered substantial losses to submit your losses now.
Class Period: Mar. 7, 2024 – May 9, 2024
Lead Plaintiff Deadline: Sept. 24, 2024
Contact the Firm Now: MGNX@hbsslaw.com
Class Action Lawsuit Against MacroGenics, Inc. (MGNX):
MacroGenics, Inc. is facing mounting pressure after financial blogger Myriam Alvarez issued a “strong sell” rating on the biotechnology company. Citing disappointing trial data for its prostate cancer drug candidate, Vobra Duo, Alvarez contends that the asset’s value proposition has been “severely altered.”
In a report published on Seeking Alpha, Alvarez underscored the negative impact of the Vobra Duo trial results on the company’s overall revenue potential. The analyst’s assessment coincides with a sharp decline in MacroGenics’ share price following the July 31 announcement of a halted mid-stage clinical trial for the drug.
The company is also grappling with a class-action lawsuit alleging misleading statements about Vobra Duo’s safety profile. Investors claim to have suffered significant losses after its May 10 disclosure of five patient deaths in the trial. MacroGenics’ market capitalization has plummeted by two-thirds since the adverse events were made public.
Prominent litigation firm Hagens Berman has initiated an investigation into potential securities law violations, focusing on the company’s public statements regarding the Vobra Duo trial.
“We’re looking into whether MacroGenics misled investors about the risks associated with Vobra Duo,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in MacroGenics and have substantial losses submit your losses now »
If you’d like more information and answers to frequently asked questions about the MacroGenics case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding MacroGenics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email MGNX@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895