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SHAREHOLDER ALERT: Law Firm Pomerantz Reminds Shareholders With Losses On Their Investment In Silverback Therapeutics, Inc. Of Class Action And Upcoming Deadline – SBTX | 2021-12-21 | Press Releases

NEW YORK, December 21, 2021 / PRNewswire / – Pomerantz LLP announces that a class action lawsuit has been filed against Silverback Therapeutics, Inc. (“Silverback” or the “Company”) (NASDAQ: SBTX) and certain of its officers. The class action, filed in United States District Court of the Western District of Washington, Seattle Division, and registered as 21-cv-01499, is in the name of a class consisting of all persons and entities other than Defendants who have purchased or otherwise acquired: (a) Common Shares of Silverback in accordance with and / or traceable to the Offer Documents issued as part of the Company’s initial public offering made on or about December 3, 2020 (the “IPO” or “Offer”); and / or (b) Silverback securities between December 3, 2020 and September 10, 2021, both dates included (the “Recourse Period”). The plaintiff is pursuing actions against the defendants under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).

If you are a shareholder who purchased Silverback ordinary shares in accordance with and / or traceable to the Offer Documents issued in connection with the Company’s IPO and Silverback securities during the Class Period, you have up to January 4, 2022 ask the court to appoint you as the principal plaintiff for the group. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, Ext. 7980. Those inquiring by e-mail are encouraged to provide their mailing address, telephone number and the number of shares purchased.

[Click here for information about joining the class action]

Silverback, a clinical-stage biopharmaceutical company, develops tissue-targeted therapies for the treatment of cancer, chronic viral infections and other serious illnesses. The Company’s lead product candidate is SBT6050, currently undergoing a Phase I / Ib clinical trial, a TLR8 agonist binding payload conjugated to a monoclonal antibody to HER2 that targets tumors, such as breast, stomach and non-small cell lung cancers. .

The complaint alleges that the offering documents were negligently prepared and, therefore, contained false statements of material facts or failed to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. In addition, throughout the Class Period, the Defendants have made materially false and misleading representations regarding the Company’s business, operational and compliance policies. Specifically, the offering documents and the defendants made false and / or misleading statements and / or failed to disclose that: (i) Silverback SBT6050’s lead product candidate was less effective than what the Company had represented to the investors; (ii) as a result, the Company overestimated the commercial and / or clinical prospects of SBT6050; and (iii) accordingly, the Offer Documents and the public statements of the Defendants throughout the Class Period were materially false and / or misleading and did not indicate the information to be contained therein.

At September 13, 2021, Silverback issued a press release “announcing[ing] that provisional data from the dose escalation portion of its phase 1 /1b a clinical trial evaluating SBT6050 as monotherapy and in combination with pembrolizumab in patients with advanced or metastatic solid tumors expressing HER2 or amplified will be presented at the next congress of the European Society of Medical Oncology from September 16 to 21, 2021 “and advising that “[t]he accepted the abstract. . . is now available on the ESMO website. According to the accepted abstract (the “Abstract”), while there was a manageable safety profile for the Company’s investigational therapy, SBT6050 gave 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.

At the time of this complaint, the price of Silverback common stock continues to trade below the $ 21.00 per share Offer price, harmful for investors.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is recognized as one of the leading firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class actions bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomlaw.com.

CONTACT:

Robert S. Willoughby

Pomerantz srl

[email protected]

888-476-6529 ext 7980

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SOURCE Pomerantz LLP