An investigation for investors in Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) shares over potential securities laws violations by Y-mAbs Therapeutics, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/18/2022 -- Y-mAbs Therapeutics, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
New York based Y-mAbs Therapeutics, Inc., a commercial-stage biopharmaceutical company, focuses on the development and commercialization of novel antibody based therapeutic products for the treatment of cancer in the United States. Y-mAbs Therapeutics, Inc. reported that its annual Total Revenue rose from $20.75 million in 2020 to $34.89 million in 2021, and that its Net Loss decreased from $119.33 million in 2020 to $117.28 million in 2021.
On October 26, 2022, the FDA posted briefing documents in advance of the vote that identified concerns by FDA scientists regarding data submitted by Y-mAbs Therapeutics, Inc. in support of the company's Biologics License Application (BLA) for its neuroblastoma therapy, omburtamab.
On October 28, 2022, Y-mAbs Therapeutics, Inc. announced the outcome of the meeting of the U.S. Food and Drug Administration ("FDA") Oncologic Drugs Advisory Committee ("ODAC"), which reviewed investigational 131I-omburtamab ("omburtamab") for the treatment of CNS/leptomeningeal metastasis from neuroblastoma. -mAbs Therapeutics, Inc. announced that the committee voted 16 to 0 that the Company had not provided sufficient evidence to conclude that omburtamab improves overall survival.
Shares of Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB) declined to $2.94 per share on November 3, 2022.
Those who purchased shares of Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB) have certain options and should contact the Shareholders Foundation.
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