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ImmunityBio, Inc.

Company Name ImmunityBio, Inc.
Stock Symbol IBRX

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Background

On March 24, 2026, Bloomberg reported that ImmunityBio had receive a Warning Letter from the U.S. Food and Drug Administration (“FDA”) stating that the Company’s Executive Chairman and Global Chief Scientific and Medical Officer, Patrick Soon-Shiong, made inaccurate claims on a podcast regarding the Company’s lead biologic product, Anktiva, including that the drug “can cure and even prevent all cancer.” The FDA thus “determined that the TV ad and podcast are false or misleading” and “make the distribution of the drug in violation of the Federal Food, Drug, and Cosmetic Act.”

On this news, ImmunityBio’s stock price fell $1.98, or 21.12%, to close at $7.42 per share on March 24, 2026, thereby injuring investors.

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