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NEW YORK, June 16, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of MacroGenics, Inc. ("MacroGenics" or the "Company") (NASDAQ: MGNX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether MacroGenics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 19, 2021, MacroGenics issued a press release "announc[ing] preliminary safety and anti-tumor activity data from the Company's ongoing Phase 1 clinical trial of MGC018", an "investigational antibody drug conjugate (ADC) . . . designed to deliver a DNA alkylating duocarmycin payload to both dividing and non-dividing cells in a B7-H3 dependent manner." Among other data, MacroGenics reported that "at least one treatment-related adverse event was experienced by 27 of 29 patients (93%)" and "[a]t 4.0 mg/kg, one patient developed a dose-limiting toxicity manifested by Grade 3 fatigue that lasted for more than 72 hours and as previously reported, a Grade 4 neutropenia occurred in a patient in the 2.0 mg/kg cohort."
On this news, MacroGenics' stock price fell $1.15 per share, or 3.67%, to close at $30.16 per share on May 20, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP