According to the Complaint, MacroGenics, Inc. is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer.

The Complaint alleges that during the Class Period, Defendants made material misrepresentations about the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine. The Complaint further alleges that when on May 9, 2024, the investing public learned that the drug was significantly more dangerous than Defendants had previously represented, MGNX’s stock declined 77.4% due to a drop of $11.36/share, damaging the Class.