NEW YORK, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of MacroGenics, Inc. (“MacroGenics” or the “Company”) (MGNX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
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 13, 2019, the American Society of Clinical Oncologists (“ASCO”) posted online the abstract of MacroGenics’ Phase III SOPHIA study of the Company’s margetuximab product, which disclosed that the October 2018 progression-free survival (“PFS”) analysis resulted in a 0.9 month improvement in PFS.
On this news, MacroGenics’ stock price fell $1.17 per share, or 6.72%, to close at $16.25 per share on May 13, 2019.
Then, on June 4, 2019, during the ASCO annual meeting in Chicago, Illinois, MacroGenics disclosed additional data for the SOPHIA trial. MacroGenics’ presentation revealed to the public that the Company had conducted its PFS and overall survival (“OS”) analyses in October 2018, and that the OS analyses for the SOPHIA trial did not reflect encouraging post-treatment survival statistics for patients.
On this news, MacroGenics’ stock price fell $3.13 per share, or 16.73%, to close at $15.58 per share on June 4, 2019.
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