Lawsuit filed for Investors who lost money with shares of MacroGenics, Inc. (NASDAQ: MGNX)

An investor, who purchased shares of MacroGenics, Inc. (NASDAQ: MGNX), filed a lawsuit over alleged violations of Federal Securities Laws by MacroGenics, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of MacroGenics, Inc. (NASDAQ: MGNX) have certain options and for certain investors are short and strict deadlines running. Deadline: September 24, 2024. NASDAQ: MGNX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

MacroGenics, Inc. reported that its annual Total Revenue declined from $150.01 million in 2022 to $57.19 million in 2023, and that its Net Loss declined from $119.75 million in 2022 to $9.05 million in 2023.

On April 3, 2024, MacroGenics, Inc issued a press released describing a research abstract it submitted about the TAMARACK study. The press release summarized the research abstract's findings about Vobra Duo's safety profile, in which grade 3 events were under 32% for both doses and no deaths were reported.

On May 9, 2024, MacroGenics, Inc released updated safety and efficacy data for its cancer treatment study TAMARACK, which investigates the drug package "Vobra Duo." The Company announced Vobra Duo's adverse event rate was over 99% for both the 2.0 mg/kg and 2.7 mg/kg dosages and that adverse events grade 3 or greater were over 50% for both dosages. Five deaths were linked to the study. Analysts expressed surprise and dismay at the changes in Vobra Duo's safety profile relative to the announcements earlier in the year and questioned management's candor.

Shares of MacroGenics, Inc. (NASDAQ: MGNX) declined from $21.88 per share on March 06, 2024, to as low as $3.995 per share on June 20, 2024.

According to the complaint the plaintiff alleges on behalf of purchasers of MacroGenics, Inc. (NASDAQ: MGNX) common shares between March 7, 2024 and May 9, 2024, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 7, 2024 and May 9, 2024, the defendants made material misrepresentations about the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine.

Those who purchased shares of MacroGenics, Inc. (NASDAQ: MGNX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.