The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ImmunityBio, Inc. (“ImmunityBio” or “the Company”) (NASDAQ: IBRX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ImmunityBio announced on May 11, 2023, that it “has received a complete response letter from the U.S. Food and Drug Administration ('FDA') on May 9, 2023 regarding its Biologics License Application ('BLA') for its product candidate, Anktiva™ (N-803) in combination with Bacillus Calmette-Guérin ('BCG') for the treatment of patients with BCG-unresponsive non-muscle invasive bladder cancer ('NMIBC') with carcinoma in situ ('CIS') with or without Ta or T1 disease. The letter indicates that the FDA has determined that it cannot approve the BLA in its present form, and the FDA has made recommendations to address the issues raised.” Based on this news, shares of ImmunityBio fell by more than 54% in morning trading on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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