MacroGenics (MGNX) Stock Crashes After Reporting Patient Deaths in TAMARACK Study

Core Viewpoint - MacroGenics, Inc. is under investigation for potentially misleading investors regarding the safety data from its Phase 2 TAMARACK study for the drug vobra duo, following significant fluctuations in its stock price due to safety concerns and patient fatalities [2][5][6]. Group 1: Company Announcements and Stock Performance - On April 3, 2024, MacroGenics announced interim safety data from the Phase 2 TAMARACK study, which suggested improved safety and tolerability for vobra duo, leading to a share price increase of $4.11, approximately 30% on April 4, 2024 [2]. - Following the announcement, Stifel downgraded MacroGenics, citing concerns over the drug's safety and discrepancies with previously disclosed results [3]. - On May 10, 2024, MacroGenics reported the deaths of 5 patients in the study, causing the share price to plummet by $11.36, a decrease of about 77% [5]. Group 2: Investigation Details - Hagens Berman is investigating whether MacroGenics misled investors regarding the Phase 2 TAMARACK interim safety data [6]. - The investigation focuses on the propriety of MacroGenics' statements about the safety data related to its antibody-drug conjugate MGC018 (vobra duo) in patients with metastatic castration-resistant prostate cancer (mCRPC) [4].