Wed Sep 18 19:07:00 UTC 2024: ## MacroGenics Faces Lawsuit After Cancer Drug Trial Halted Due to Safety Concerns

**SAN FRANCISCO, Sept. 18, 2024** – Hagens Berman Sobol Shapiro LLP is urging investors who suffered substantial losses in MacroGenics, Inc. (NASDAQ: MGNX) to come forward. The law firm is investigating allegations that the pharmaceutical company misled investors about the safety and efficacy of its experimental cancer drug, vobra duo.

The investigation stems from a class-action lawsuit filed in the Southern District of New York, which alleges MacroGenics made false and misleading statements about the drug’s safety and efficacy in the lead-up to the American Society of Clinical Oncology (ASCO) meeting in March 2024.

While MacroGenics initially presented positive data regarding vobra duo’s safety and efficacy, subsequent disclosures revealed a higher-than-expected rate of serious side effects. This culminated in the Independent Data Monitoring Committee recommending the discontinuation of the Phase 2 TAMARACK study, citing patient safety concerns. MacroGenics agreed with the recommendation, causing the company’s stock price to crash by 28% on July 31, 2024.

“We’re investigating whether MacroGenics may have downplayed safety concerns associated with vobra duo to inflate its stock price,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

Investors who purchased MacroGenics stock between March 7, 2024, and May 9, 2024, and incurred substantial losses are encouraged to submit their information to Hagens Berman before the Lead Plaintiff Deadline of September 24, 2024.

**About Hagens Berman:**

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm represents investors, whistleblowers, workers, consumers, and others in cases seeking justice for those harmed by corporate negligence and other wrongdoings.

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