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.
(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.
To receive more information, please fill out the form.