NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is reminding investors that a class action lawsuit has been filed against MacroGenics, Inc. (“MacroGenics” or the “Company”) (NASDAQ: MGNX), and certain other defendants, related to alleged violations of federal securities laws. If you purchased MacroGenics common stock between February 6, 2019 and June 3, 2019, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information. The lead plaintiff deadline is November 12, 2019.
MacroGenics is a clinical stage biopharmaceutical company focused on the development of antibody-based therapeutics for the treatment of cancer.
The lawsuit alleges that, throughout the Class Period, defendants misled investors regarding the results of the Company’s SOPHIA clinical trial evaluating product candidate margetuximab. SOPHIA is a randomized, open-label Phase III clinical trial evaluating margetuximab plus chemotherapy compared to trastuzumab plus chemotherapy in patients with HER2-positive metastatic breast cancer.
On May 15, 2019, MacroGenics issued a press release entitled “MacroGenics Announces Positive Results from Phase 3 SOPHIA Study of Margetuximab in Patients with HER2-Positive Metastatic Breast Cancer.” The release touted positive results in progression-free survival (“PFS”) rates.
Then, on June 4, 2019, the Company disclosed additional data for the SOPHIA trial including that it had conducted both the PFS and first interim overall survival (“OS”) analyses in October 2018, and that the OS analyses did not produce a statistically significant result.
As a result of this news, the price of MacroGenics stock fell nearly 17%, or $3.13 per share, to close at $15.58 on June 4, 2019. On June 5, 2019, the price of MacroGenics stock declined another 6%.
What You Can Do
If you purchased MacroGenics stock between February 6, 2019 and June 3, 2019, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Rhiana Swartz at (844) 818-6980 or email@example.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.