NEW YORK, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Molecular Templates, Inc. (“Molecular” or the “Company”) (NASDAQ: MTEM). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Molecular and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 6, 2020, Molecular Templates disclosed that the U.S. Food and Drug Administration (“FDA”) had placed the Company’s “MT-3724 clinical studies on partial clinical hold following a treatment-related fatality in one subject who experienced Grade 5 capillary leak syndrome in the Phase 2 MT-3724 monotherapy study in in relapsed/refractory diffuse large B-cell lymphoma patients.” Molecular Templates advised investors that the Company “is working to address the clinical and MT-3724 product lot information requests from the FDA and will then seek agreement from FDA to remove the partial clinical hold.”
On this news, Molecular Templates’ stock price fell $2.30 per share, or 21.18%, to close at $8.56 per share on November 6, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.