Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB) securities.
If you suffered a loss on your Y-mAbs investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: common stock on the open market, or pursuant to registration statements filed with the U.S. Securities and Exchange Commission, during the period October 6, 2020 through October 28, 2022
CASE DETAILS: The filed complaint alleges that Y-mAbs Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that:
(i) Y-mAbs misrepresented the U.S. Food and Drug Administration’s (“FDA”) willingness to approve omburtamab, the Company’s lead product candidate, for marketing based on the existing clinical trials; (ii) the Company misrepresented that progress was being made that would align with the FDA’s requirements to demonstrate substantial evidence of effectiveness, sufficient for approval of omburtamab, through adequate and well-controlled studies; (iii) the FDA had repeatedly advised Y-mAbs that it was unlikely to grant approval for the marketing of omburtamab; and (iv) Y-mAbs had elected to submit the March 31, 2022 Biologics License Application prior to reaching agreement with the FDA on the content of the application.
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