Securities
Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses
Exceeding $50,000 In Silverback To Contact Him Directly To Discuss Their
Options
NEW YORK - 
(NewMediaWire) - December 02, 2021 - Faruqi & Faruqi, LLP, a
leading national securities law firm, is investigating potential claims against
Silverback Therapeutics, Inc. (“Silverback” or the “Company”) (NASDAQ: SBTX)
and reminds investors of the January 4, 2022 deadline to seek the role of lead
plaintiff in a federal securities class action that has been filed against the
Company.
If
you suffered losses exceeding $50,000 investing in Silverback stock or options
between December 3, 2020 (the “IPO” or “Offering”) and September 10, 2021 and would like to
discuss your legal rights, call Faruqi
& Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional
information: www.faruqilaw.com/SBTX.
There
is no cost or obligation to you.
Faruqi &
Faruqi is a leading minority and Woman-owned national securities law firm with
offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit
focuses on whether the Company and its executives violated federal securities
laws by making false and/or misleading statements and/or failing to disclose
that: (1) Silverback’s lead product candidate SBT6050 was less effective than
the Company had represented to investors; (2) accordingly, the Company had
overstated SBT6050’s commercial and/or clinical prospects; and (3) 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 September 13, 2021,
Silverback issued a press release “announc[ing] 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 2021 Congress from September
16-21, 2021” and advising that “[t]he accepted abstract . . . is now available
on the ESMO website.” Per the accepted
abstract (the “Abstract”), while there was a manageable safety profile for the
Company’s experimental therapy, SBT6050 yielded only one partial response among
14 HER2-positive solid tumors.
On this news, Silverback’s
stock price fell $4.54 per share, or 23.35%, to close at $14.90 per share on
September 13, 2021.
As of the time this Complaint
was filed, the price of Silverback common stock continues to trade below the $21.00
per share Offering price, damaging investors.
The court-appointed lead
plaintiff is the investor with the largest financial interest in the relief
sought by the class who is adequate and typical of class members who directs
and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain an absent class member. Your
ability to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also
encourages anyone with information regarding Silverback’s conduct to contact
the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a similar
outcome with respect to any future matter. We welcome the opportunity to
discuss your particular case. All communications will be treated in a
confidential manner.
View the original release on www.newmediawire.com