NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against MacroGenics, Inc. (“MacroGenics” or the “Company”) (NASDAQ: MGNX) in the United States District Court for the District of Maryland on behalf of all persons and entities who purchased or otherwise acquired MacroGenics securities between March 7, 2024 and May 9, 2024, both dates inclusive (the “Class Period”). Investors have until September 24, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On May 9, 2024, MacroGenics announced in a press release that a total of five fatal outcomes had occurred in its TAMARACK Phase 2 study of vobramitamab duocarmazine in patients with metastatic astration resistant prostate cancer. On this news, the price of MacroGenics shares declined by $11.36 per share, or approximately 77.4%, from $14.67 per share on May 9, 2024 to close at $3.31 on May 10, 2024.

The lawsuit alleges that the Company made material misrepresentations by providing overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to early interim safety data results from the TAMARACK Phase 2 study.

If you purchased or otherwise acquired MacroGenics shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com