Overview

A class action lawsuit has been filed against MacroGenics, Inc. (“MacroGenics,” “MGNX,” or the “Company”) (NASDAQ: MGNX) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The MGNX class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired MGNX’s stock or sold MGNX puts between March 7, 2024, to May 9, 2024, both dates inclusive (the “Class Period”).  Investors have until September 24, 2024, to seek appointment as lead plaintiff of the MGNX class action lawsuit.

MGNX is a biopharmaceutical company focused on discovering, developing, manufacturing, and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer.  MGNX generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based technology platforms, which have applicability across broad therapeutic domains.  The combination of MGNX’s technology platforms and protein engineering expertise has allowed MGNX to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies.  To date, two products originating from MGNX’s pipeline of proprietary or partnered product candidates have received U.S. Food and Drug Administration (FDA) approval.

The MGNX class action lawsuit alleges that Defendants, during the class period, made material misrepresentations about the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine.  On May 9, 2024, the investing public learned that the drug was significantly more dangerous than Defendants had previously represented.  Following this news, MGNX’s stock declined 77.4% due to a drop of $11.36 per share.

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If you purchased or otherwise acquired MGNX’s stock or sold MGNX puts between March 7, 2024, to May 9, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the MGNX lawsuit is September 24, 2024.