ImmunityBio
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The class action complaint alleges that during the Class Period, ImmunityBio and its defendants made material false and misleading statements to investors. The defendants allegedly failed to disclose important information, including:
(i) ImmunityBio conducted insufficient due diligence or knowingly ignored Good Manufacturing Practice (GMP) deficiencies at its third-party contract manufacturing organizations (CMOs) for Anktiva. (ii) One or more of the Company’s third-party CMOs for Anktiva indeed had GMP deficiencies. (iii) These deficiencies were likely to lead to the FDA’s rejection of the Biologics License Application (BLA) for Anktiva in its current form. (iv) Consequently, the Company exaggerated the likelihood of regulatory approval for the Anktiva BLA.
On May 11, 2023, before the market opened, ImmunityBio made an announcement that the FDA had rejected the BLA for Anktiva in its present form due to “deficiencies relat[ing] to the FDA’s pre-license inspection of the Company’s third-party contract manufacturing organizations.”
As a result of this news, ImmunityBio’s stock price plummeted by $3.43 per share, representing a significant decline of 55.14%, and the shares closed at $2.79 per share on May 11, 2023. This significant drop in stock value resulted in substantial losses for investors.
