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Allegations
During the class period, Defendants made material misrepresentations about the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine. On May 9, 2024, the investing public learned that the drug was significantly more dangerous than defendants had previously represented. Following this news, MGNX’s stock declined 77.4% due to a drop of $11.36/share.