The Law Offices of Frank R. Cruz Announces Investigation of Y-mAbs Therapeutics, Inc. (YMAB) on Behalf of Investors

By: Law Offices of Frank R. Cruz via Business Wire

January 19, 2023 at 15:37 PM EST

The Law Offices of Frank R. Cruz announces an investigation of Y-mAbs Therapeutics, Inc. (“Y-mAbs” or the “Company”) (NASDAQ: YMAB) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On April 1, 2022, the Company announced that it had resubmitted its Biologics License Application (“BLA”) for omburtamab for the treatment of pediatric patients with CNS from neuroblastoma, following several meetings with the U.S. Food and Drug Administration (“FDA”) to address deficiencies identified in the agency’s 2020 refusal to file letter in response to Y-mAbs’s previous BLA.

On October 26, 2022, the FDA released its briefing document in advance of its Advisory Committee meeting to discuss the omburtamab BLA. The briefing document identified three key issues regarding the submitted data, which led analysts to conclude that Y-mAbs had resubmitted the BLA prior to reaching agreement with the FDA regarding the content of the application.

On this news, Y-mAbs’s stock price fell $4.16, or 27.4%, to close at $11.01 per share on October 26, 2022, thereby injuring investors.

If you purchased Y-mAbs securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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