GlobeNewswire Inc | Jul 17, 2020 01:00PM EDT

July 17, 2020

NEW YORK, July 17, 2020 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against CytomX Therapeutics, Inc. ("CytomX"or "the Company") (NYSE: CTMX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired CytomX securities between May 17, 2018, and May 13, 2020,inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firms site: www.bgandg.com/ctmx.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) CytomX had downplayed issues with CX-072s efficacy observed in the PROCLAIM-CX-072 clinical program; (2) CytomX had similarly downplayed issues with CX-2009s efficacy and safety observed in the PROCLAIM-CX-2009 clinical program; and (3) as a result, the Companys public statements were materially false and misleading at all relevant times.

On May 13, 2020, CytomX made available abstracts for the Companys clinical presentations for CX-072, an PD-L1 inhibitor, and CX-2009, an antibody-drug conjugate. Results from CytomXs Phase 2 study evaluating CX-072 in patients with solid tumors showed a response rate of 8.8%, compared to a response rate of 18.5% in patients receiving the combination of CX-072 and Bristol Myers Squibbs Yervoy (ipilimumab). Meanwhile, results from CytomXs Phase 1/2 study evaluating CX-2009 in patients with solid tumors showed evidence of clinical activity at doses at least 4 mg/kg 3x/week, yet the data suggest a significantly higher rate of serious or greater treatment-related toxicity to the eyes at dose equivalents at least 8 mg/kg 3x/week. Following the release of the foregoing data, CytomXs stock price fell sharply during intraday trading on May 14, 2020.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firms site: www.bgandg.com/ctmx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in CytomX you have until July 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firms expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com