Wolf Popper LLP Announces Investigation on Behalf of Investors in Y-mAbs Therapeutics, Inc.
NEW YORK, October 27 2022: Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Y-mAbs Therapeutics, Inc. (“Y-mAbs” or the “Company”) common stock (NASDAQ: YMAB).
Y-mAbs is developing omburtamab, which is used to treat children with central nervous system/leptomeningeal cancer tumors. Since becoming publicly traded in September 2018, the Company has made numerous positive statements about omburtamab, in addition to talking about positive meetings with the Food and Drug Administration (FDA) with regard to omburtamab.
Early in the trading day on October 26, 2022, the Oncologic Drugs Advisory Committee (ODAC) posted its Briefing Document on the FDA’s website in advance of the ODAC’s October 28, 2022 meeting. The ODAC expressed concerns that Y-mAbs’s Biologics License Application for omburtamab did not provide sufficient evidence of efficacy. Specifically, the FDA cited the fact that the Company submitted data from just a single center, single arm trial; additional analyses conducted by the FDA to examine bias and results found that differences in survival cannot be reliably attributed to omburtamab; and the application does not include reliable response rate data to provide supportive evidence of the treatment effect of omburtamab. On that news, Y-mAbs’s stock price fell $4.16 per share to $11.01, or down 27.4% on very heavy volume.
Investors who have lost over $25,000 trading in Y-mAbs’s common stock and who would like to discuss the investigation should contact Adam Savett at (610) 621-4550, or firstname.lastname@example.org.
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