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Levi & Korsinsky Reminds MacroGenics, Inc. Investors of the Ongoing Investigation into Potential Violations of Securities Laws - MGNX

Monday, 17 June 2024 05:45 PM

Levi & Korsinsky, LLP

NEW YORK, NY / ACCESSWIRE / June 17, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of MacroGenics, Inc. ("MacroGenics, Inc.") (NASDAQ:MGNX) concerning possible violations of federal securities laws.

On April 3, 2024, the Company 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 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.

Following the release of the research data and earnings call, MGMX shares fell $11.36, or 77.4% overnight.
To obtain additional information, go to:

or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171

SOURCE: Levi & Korsinsky, LLP

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