A lawsuit was filed on behalf of investors in ImmunityBio, Inc. (NASDAQ: IBRX) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/10/2023 -- An investor, who purchased shares of ImmunityBio, Inc. (NASDAQ: IBRX), filed a lawsuit over alleged violations of Federal Securities Laws by ImmunityBio, Inc..
Investors who purchased shares of ImmunityBio, Inc. (NASDAQ: IBRX) have certain options and for certain investors are short and strict deadlines running. Deadline: August 29, 2023. NASDAQ: IBRX investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
San Diego, CA based ImmunityBio, Inc., a clinical-stage biotechnology company, engages in developing therapies and vaccines that complement, harness, and amplify the immune system to defeat cancers and infectious diseases in the United States and Europe.
On May 11, 2023, Reuters reported that the U.S. Food and Drug Administration declined to approve I ImmunityBio, Inc's combination therapy to treat a type of bladder cancer due to deficiencies in its application. The Company also reiterated doubts about its ability to remain in business in a filing with the Securities and Exchange Commission.
Shares of ImmunityBio, Inc. (NASDAQ: IBRX) declined from $6.93 per share on May 09, 2023, to $2.25 per share on May 15, 2023.
The plaintiff claims that between May 23, 2022 and May 10, 2023, the Defendants made false and/or misleading statements and/or failed to disclose that ImmunityBio conducted insufficient due diligence to discover, or else did discover and ignored, GMP deficiencies at its third-party CMOs for Anktiva, that one or more of the Company's third-party CMOs for Anktiva did in fact suffer from GMP deficiencies, that the foregoing deficiencies was likely to cause the FDA to reject the Anktiva BLA in its present form, that accordingly, the Company overstated the regulatory approval prospects for the Anktiva BLA, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of ImmunityBio, Inc. (NASDAQ: IBRX) have certain options and should contact the Shareholders Foundation.
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