NEW ORLEANS, Feb. 28, 2023 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until March 20, 2023 Lead Plaintiff’s Motions in a Securities Class Action Against Y-mAbs Therapeutics, Inc. YMABif you purchased the Company’s securities between October 6, 2020 and October 28, 2022 inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the Southern District of New York.

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Y-mAbs investors should visit us at https://claimsfiler.com/cases/nasdaq-ymab/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.

About the lawsuit

Y-mAbs and certain of its officers are alleged to have failed to disclose material information during the Class Period in violation of federal securities laws.

On October 26, 2022, the Food and Drug Administration (“FDA”) released its briefing document for the upcoming Advisory Committee (“AdCom”) meeting, identifying the key issues in the Company’s application for omburtamab, its lead product candidate, and highlighting the Company’s decision to resubmit the application on March 31, 2022, before reaching an agreement on substance with the FDA, and that the FDA had repeatedly raised its concerns in previous communications and meetings. As a result of this news, shares of Y-mAbs fell $4.16, or approximately 27.42%, from $15.17 to a close of $11.01 on October 26, 2022, and fell again by $2.16, or approximately 19 .62% ​​from $11.01 per share to a closing price of $8.85 on October 27, 2022.

Then, on October 28, 2022, the company announced that the AdCom had voted 16 to 0 that the company had not provided sufficient evidence to conclude that omburtamab improved overall survival, same reasons for rejection, on the company had previously been advised of its 2020 bid. As a result of this news, shares of Y-mAbs fell $5.32 per share, or approximately 59.57%, from $8.93 to a closing price of $3.61 in October …