NEW YORK, Nov. 22, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Silverback Therapeutics, Inc. (“Silverback” or the “Company”) (NASDAQ:SBTX) in the United States District Court for the Western District of Washington on behalf of all persons and entities who purchased or otherwise acquired Silverback securities between December 3, 2020 and September 10, 2021, both dates inclusive (the “Class Period”) and/or pursuant to the December 3, 2020 IPO. Investors have until January 4, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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According to the filed complaint, (i) Silverback’s lead product candidate SBT6050, which is in a Phase I/Ib 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, was less effective than the Company had represented to investors; (ii) accordingly, the Company 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.
If you purchased or otherwise acquired Silverback shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.