NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against CytomX Therapeutics, Inc. (“CytomX” or the “Company”) (NASDAQ: CTMX) in the United States District Court for the Northern District of California on behalf of those who purchased or acquired the securities of CytomX between May 17, 2018, and May 13, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for CytomX investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) CytomX had downplayed issues with CX-072’s efficacy observed in the PROCLAIM-CX-072 clinical program; (2) CytomX had similarly downplayed issues with CX-2009's efficacy and safety observed in the PROCLAIM-CX-2009 clinical program; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of CytomX during the Class Period should contact the Firm prior to the July 20, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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