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MGNX.US
id: 1296

MacroGenics (MGNX) Drug Safety Issues Case

The plaintiff has voluntarily dismissed the case, ending the lawsuit.
D. Maryland
Court
8:24-cv-02184
Case number
03/07/2024
Class period Start
05/09/2024
Class period End
09/24/2024
Lead Plaintiff motion deadline

  • $MGNX stockholder filed a claim against MacroGenics for misleding about the clinical trial data and the safety of its drug.

  • After the news on May 10, 2024, $MGNX fell by 77%.

  • MacroGenics investors can join this case to be notified about potential recovery.

Case Details:

On April 3, 2024, MacroGenics shared interim safety results from the Phase 2 TAMARACK study, which were first submitted to ASCO on February 6, 2024.

The Company said that giving a lower dose of vobra duo less often makes it safer and easier for men with advanced prostate cancer.

The news caused $MGNX to rise by about 30% on April 4, 2024.

However, on May 10, 2024, MacroGenics reported that five patients in the study had died.

On this news, $MGNX fell by 77.4% on the same day.

Moreover, SeekingAlpha reported that Stifel downgraded MacroGenics after the TAMARACK results, which raised safety concerns and differed from earlier reports.

Considering all the representations, investors suspect MacroGenics misled about the clinical trial data and the safety of its drug.

Case Status
Voluntary Dismissed
Alleged Offence
Mismanagement, 
Misleading Statements, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
05/10/2024
Filing date
07/26/2024
Lead Plaintiff Deadline
09/24/2024