{"id":725017,"date":"2023-01-23T09:36:27","date_gmt":"2023-01-23T14:36:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-barrack-rodos-bacine-encourages-y-mabs-therapeutics-inc-ymab-shareholders-to-contact-the-firm-about-a-recently-filed-securities-class-action-lawsuit\/"},"modified":"2023-01-23T09:36:27","modified_gmt":"2023-01-23T14:36:27","slug":"shareholder-alert-barrack-rodos-bacine-encourages-y-mabs-therapeutics-inc-ymab-shareholders-to-contact-the-firm-about-a-recently-filed-securities-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-barrack-rodos-bacine-encourages-y-mabs-therapeutics-inc-ymab-shareholders-to-contact-the-firm-about-a-recently-filed-securities-class-action-lawsuit\/","title":{"rendered":"SHAREHOLDER ALERT:\u00a0 Barrack, Rodos &amp; Bacine Encourages Y-mAbs Therapeutics Inc. (YMAB) Shareholders to Contact the Firm About a Recently Filed Securities Class Action Lawsuit"},"content":{"rendered":"<div class=\"mw_release\">\n<p>PHILADELPHIA, Jan.  23, 2023  (GLOBE NEWSWIRE) &#8212; Barrack, Rodos &amp; Bacine notifies investors that a securities class action lawsuit has been filed on behalf of purchasers of the common stock of Y-mAbs Therapeutics Inc. (NASDAQ: YMAB) (\u201cY-mAbs\u201d) from October 6, 2020 through October 28, 2022 (the Class Period). The lawsuit alleges violations of the Securities Exchange Act and names the company and certain of its executives as defendants.<\/p>\n<p>Y-mAbs developed and sought approval from the U.S. Food and Drug Administration (FDA) to market its lead drug candidate, Omburtamab, as a therapy for the treatment of brain cancer in children. \u00a0According to the Complaint, defendants misrepresented to investors the progress being made toward meeting the FDA\u2019s requirements for demonstrating the drug\u2019s effectiveness.\u00a0 Defendants\u2019 statements failed to disclose, among other things, that the FDA had repeatedly expressed concern that the company\u2019s clinical trial for Omburtamab, known as Study 03-133, was inadequate.<\/p>\n<p>On October 26th, 2022, the FDA released briefing documents in advance of a meeting of the FDA\u2019s Oncologic Drugs Advisory Committee. These documents revealed, among other things, that Y-mAbs elected to push ahead and submit a license application without having first reached an agreement with the FDA on how to address the agency\u2019s concerns about the adequacy of Study 03-133. Moreover, the FDA had performed additional analyses that reinforced its conclusion that \u201cdifferences in survival cannot be reliably attributed to Omburtamab\u201d and that the application lacked \u201csupportive evidence for the treatment effect of Omburtamab.\u201d\u00a0 On this news, Y-mAbs&#8217; share price fell over 27%, or $4.16 per share, to close at $11.01 per share on October 26, 2022. Y-mAbs\u2019 stock fell another $2.16 per share the next day, to close at $8.85 per share.<\/p>\n<p>Trading in Y-mAbs&#8217; stock was halted for much of the day on October 28, 2022, while the FDA Advisory Committee convened.\u00a0 The committee voted 16-0 that the company had failed to provide sufficient evidence that Omburtamab improved overall survival.\u00a0 On October 31, 2022, Y-mAbs stock fell nearly 60%, closing at $3.61 per share.<\/p>\n<p>Investors who purchased Y-mAbs shares during the class period may be eligible to seek appointment as the lead plaintiff, a court-appointed role.\u00a0 If you have sustained losses you are encouraged to discuss your rights by contacting Mark R. Stein or Linda Border at Barrack, Rodos &amp; Bacine, at the toll-free number 877-386-3304, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0UoIa6Yjelluo2wkJ_K8I-oT_wsPsQfu7OnNlNBXGadSY4e1hBG1KKWxYPaQohJ5e6dN9D_FfM5YzGYLd6eNuHgednDbWdrBJsMXttVvUZs=\" rel=\"nofollow noopener\" target=\"_blank\">mstein@barrack.com<\/a>\u00a0or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DzCPIFLa2_FfjCSSOym1U5rivjRxhit3PT_wTwuqW7UH1X7TQElLoOY4hZ0E_zh4XpEHGjA4XQGgVT0vdmZfwpTD3q4HS9iwIdBAygpr9zY=\" rel=\"nofollow noopener\" target=\"_blank\">lborder@barrack.com<\/a>.<\/p>\n<p>To read about this lawsuit and to find out additional information about the firm, please see the Barrack, Rodos &amp; Bacine <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DkjouEjDCovPtK2O0-FZ6ifrKWk2__1ipF8HUeZxBuJ-MdMvD8jzAuWmfnfNrgGreAQZ_Ns487i8-TkbxED8tqzW07cZUF1-2DXoVpuX15Y=\" rel=\"nofollow noopener\" target=\"_blank\">newsroom<\/a>.<\/p>\n<p>Philadelphia-based Barrack Rodos &amp; Bacine has more than four decades of experience prosecuting securities law class actions, including cases involving accounting fraud and insider trading, and has achieved some of the largest recoveries in U.S. history of securities litigation. The firm&#8217;s largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODczMzg4NSM1MzY3MTY3IzIwMjQ3NTc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/YzQ1MzZlMTQtODlhZi00ZjBlLWIxMmMtY2FiZmRjODNmNTgwLTEwMzYzMjk=\/tiny\/Barrack-Rodos-Bacine.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PHILADELPHIA, Jan. 23, 2023 (GLOBE NEWSWIRE) &#8212; Barrack, Rodos &amp; Bacine notifies investors that a securities class action lawsuit has been filed on behalf of purchasers of the common stock of Y-mAbs Therapeutics Inc. (NASDAQ: YMAB) (\u201cY-mAbs\u201d) from October 6, 2020 through October 28, 2022 (the Class Period). The lawsuit alleges violations of the Securities Exchange Act and names the company and certain of its executives as defendants. Y-mAbs developed and sought approval from the U.S. Food and Drug Administration (FDA) to market its lead drug candidate, Omburtamab, as a therapy for the treatment of brain cancer in children. \u00a0According to the Complaint, defendants misrepresented to investors the progress being made toward meeting the FDA\u2019s requirements for demonstrating the drug\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-barrack-rodos-bacine-encourages-y-mabs-therapeutics-inc-ymab-shareholders-to-contact-the-firm-about-a-recently-filed-securities-class-action-lawsuit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SHAREHOLDER ALERT:\u00a0 Barrack, Rodos &amp; Bacine Encourages Y-mAbs Therapeutics Inc. (YMAB) Shareholders to Contact the Firm About a Recently Filed Securities Class Action Lawsuit&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-725017","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SHAREHOLDER ALERT:\u00a0 Barrack, Rodos &amp; Bacine Encourages Y-mAbs Therapeutics Inc. (YMAB) Shareholders to Contact the Firm About a Recently Filed Securities Class Action Lawsuit - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-barrack-rodos-bacine-encourages-y-mabs-therapeutics-inc-ymab-shareholders-to-contact-the-firm-about-a-recently-filed-securities-class-action-lawsuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT:\u00a0 Barrack, Rodos &amp; Bacine Encourages Y-mAbs Therapeutics Inc. (YMAB) Shareholders to Contact the Firm About a Recently Filed Securities Class Action Lawsuit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA, Jan. 23, 2023 (GLOBE NEWSWIRE) &#8212; Barrack, Rodos &amp; Bacine notifies investors that a securities class action lawsuit has been filed on behalf of purchasers of the common stock of Y-mAbs Therapeutics Inc. (NASDAQ: YMAB) (\u201cY-mAbs\u201d) from October 6, 2020 through October 28, 2022 (the Class Period). The lawsuit alleges violations of the Securities Exchange Act and names the company and certain of its executives as defendants. Y-mAbs developed and sought approval from the U.S. Food and Drug Administration (FDA) to market its lead drug candidate, Omburtamab, as a therapy for the treatment of brain cancer in children. \u00a0According to the Complaint, defendants misrepresented to investors the progress being made toward meeting the FDA\u2019s requirements for demonstrating the drug\u2019s &hellip; Continue reading &quot;SHAREHOLDER ALERT:\u00a0 Barrack, Rodos &amp; Bacine Encourages Y-mAbs Therapeutics Inc. 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Y-mAbs developed and sought approval from the U.S. Food and Drug Administration (FDA) to market its lead drug candidate, Omburtamab, as a therapy for the treatment of brain cancer in children. \u00a0According to the Complaint, defendants misrepresented to investors the progress being made toward meeting the FDA\u2019s requirements for demonstrating the drug\u2019s &hellip; Continue reading \"SHAREHOLDER ALERT:\u00a0 Barrack, Rodos &amp; Bacine Encourages Y-mAbs Therapeutics Inc. 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