The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB) 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.
According to the Y-mAbs lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in Y-mAbs you have until March 20, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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