The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Silverback Therapeutics, Inc. (NASDAQ: SBTX) who purchased (a) common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company’s initial public offering conducted on or about December 3, 2020 and/or (b) securities between December 3, 2020 and September 10, 2021, both dates inclusive. The action, which was filed in the United States District Court for the Western District of Washington, alleges that the Company violated federal securities laws.
(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.
Shareholders have until January 4, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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