MacroGenics (MGNX) Investors Alerted to September 24th Deadline in Securities Class Action, Encouraged to Contact Hagens Berman

Core Viewpoint - MacroGenics, Inc. is facing a class-action lawsuit following a significant drop in its stock price due to safety concerns regarding its experimental cancer drug, vobra duo, which was recommended for discontinuation in a Phase 2 study [1][2]. Group 1: Company Performance and Stock Impact - On July 30, 2024, MacroGenics' shares fell 28% after the Independent Data Monitoring Committee recommended discontinuing vobra duo therapy due to patient safety concerns [1]. - Following the announcement of five patient deaths in the study on May 10, 2024, the company's share price plummeted by $11.36, or about 77% [5]. - Prior to these events, MacroGenics had seen a 30% increase in share price after releasing interim safety data that suggested improved safety with reduced dosing of vobra duo [4]. Group 2: Clinical Trial and Safety Concerns - The TAMARACK study, which is a Phase 2 clinical trial for vobra duo, has been central to the allegations against MacroGenics, with claims that the company misled investors about the drug's safety and efficacy [2]. - Initial positive statements about vobra duo's performance in treating metastatic castration-resistant prostate cancer (mCRPC) were contradicted by later data showing a higher-than-expected rate of serious side effects [3]. - The interim safety data released on April 3, 2024, indicated that reducing the dose and frequency of vobra duo improved safety, but this was followed by negative outcomes that led to the stock's decline [4].