We are investigating MacroGenics, Inc. (MGNX) (“MacroGenics” or the “Company”) for potential violations of the federal securities laws.
On May 13, 2019, the American Society of Clinical Oncologists (“ASCO”) posted online the abstract of MacroGenics’ Phase III SOPHIA study of the Company’s margetuximab product, which disclosed that the October 2018 progression-free survival (“PFS”) analysis resulted in a 0.9 month improvement in PFS. On this news, MacroGenics’ stock price fell $1.17 per share, or 6.72%, to close at $16.25 per share on May 13, 2019. Then, on June 4, 2019, during the ASCO annual meeting in Chicago, Illinois, MacroGenics disclosed additional data for the SOPHIA trial. MacroGenics’ presentation revealed to the public that the Company had conducted its PFS and overall survival (“OS”) analyses in October 2018, and that the OS analyses for the SOPHIA trial did not reflect encouraging post-treatment survival statistics for patients. On this news, Macrogenics’ stock price fell $3.13 per share, or 16.73%, to close at $15.58 per share on June 4, 2019.