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Newsfile 26-May-2023 2:49 PM
San Francisco, California--(Newsfile Corp. - May 26, 2023) - Hagens Berman urges ImmunityBio, Inc. (NASDAQ:IBRX) investors who suffered substantial losses to submit your losses now.
Contact An Attorney Now: IBRX@hbsslaw.com
ImmunityBio, Inc. (IBRX) Investigation:
The investigation focuses on ImmunityBio's statements about the manufacturing and commercial prospects for its lead product candidate (Anktiva) for the treatment of patients with certain non-muscle invasive bladder cancer.
ImmunityBio submitted a Biologics License Application ("BLA") for Anktiva in May 2022 and, since then, has assured investors that "[w]e have established Good Manufacturing Practice (GMP) manufacturing capacity at scale with cutting-edge cell manufacturing expertise and ready-to-scale facilities[.]"
But on May 11, 2023, the company announced the FDA had rejected the BLA in its present form, disclosing that "[t]he deficiencies relate to the FDA's pre-license inspection of the Company's third-party contract manufacturing organizations."
This news drove the price of ImmunityBio shares crashing 55% lower on May 11, 2023.
"We're focused on investors' losses and whether ImmunityBio may have misrepresented its GMP in light of the FDA's findings," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in ImmunityBio and have substantial losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding ImmunityBio should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email IBRX@hbsslaw.com.
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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167705