When the Silverback Therapeutics class action lawsuit was filed, the price of Silverback Therapeutics common stock continues to trade below the $21.00 per share IPO price. On this news, Silverback Therapeutics' stock price fell by more than 23%, damaging investors. is now available on the ESMO website." Per the accepted abstract, while there was a manageable safety profile for Silverback Therapeutics' experimental therapy, SBT6050 yielded only one partial response among 14 HER2-positive solid tumors. On September 13, 2021, Silverback Therapeutics issued a press release "announc that interim data from the dose-escalation portion of its Phase 1/1b clinical trial evaluating SBT6050 as a monotherapy and in combination with pembrolizumab in patients with advanced or metastatic HER2-expressing or amplified solid tumors will be presented at the upcoming European Society for Medical Oncology (ESMO) 2021 Congress from September 16-21, 2021" and advising that "he accepted abstract. The Silverback Therapeutics class action lawsuit alleges that the offering documents and defendants made false and misleading statements throughout the Class Period and failed to disclose that: (i) Silverback Therapeutics' lead product candidate SBT6050 was less effective than Silverback Therapeutics had represented to investors (ii) accordingly, Silverback Therapeutics had overstated SBT6050's commercial and/or clinical prospects and (iii) as a result, the offering documents and defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. On or about December 3, 2020, Silverback Therapeutics common stock began trading on the Nasdaq Global Market ("NASDAQ") under the ticker symbol "SBTX." Pursuant to its IPO, Silverback Therapeutics issued 11.5 million shares of common stock priced at $21.00 per share. Securities and Exchange Commission ("SEC") in connection with its IPO, which, after several amendments, was declared effective by the SEC on December 3, 2020. On November 10, 2020, Silverback Therapeutics filed a registration statement on Form S-1 with the U.S. Lead plaintiff motions for the Silverback Therapeutics class action lawsuit must be filed with the court no later than January 4, 2022.ĬASE ALLEGATIONS: Silverback Therapeutics' lead product candidate is SBT6050, which is in a Phase 1/1b clinical trial, a TLR8 agonist linker-payload conjugated to a HER2-directed monoclonal antibody that targets tumors, such as breast, gastric, and non-small cell lung cancers. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at. The Kirkland team was led by corporate partners Dan Vaczy and Christian Atwood, tax partner Vincent Thorn, and investment funds partner Amala Ejikeme and associate Anna Alexandrou.If you wish to serve as lead plaintiff of the Silverback Therapeutics class action lawsuit, please provide your information by clicking here. Upon stockholder approval, the combined company is expected to operate under the name ARS Pharmaceuticals and trade on the Nasdaq Capital Market under the ticker symbol “SPRY.” The merger is currently expected to close in the fourth quarter of 2022. The combined company is expected to have approximately $265 million in cash, cash equivalents and marketable securities at closing. The combined company will focus on the potential regulatory approval and commercialization of neffy, ARS’s investigational epinephrine nasal spray for the treatment of Type I allergic reactions including anaphylaxis. (ARS), under which ARS will merge with Silverback in an all-stock transaction. (Silverback), and ARS Pharmaceuticals, Inc. Kirkland & Ellis advised Nextech, a global, cancer therapeutics-focused venture capital firm, in connection with a definitive agreement between its portfolio company, Silverback Therapeutics, Inc.
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