NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of ImmunityBio, Inc. (“ImmunityBio” or the “Company”) IBRX. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation addresses whether ImmunityBio and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
ImmunityBio filed a Biologics License Application (“BLA”) for Anktiva with the U.S. Food and Drug Administration (“FDA”) in May 2022 and has since assured investors that “[w]We have established large-scale Good Manufacturing Practice (GMP) manufacturing capabilities with state-of-the-art cell manufacturing expertise and scale-to-scale facilities[.]”Then, on May 11, 2023, ImmunityBio announced that the FDA had rejected the BLA as it stands and announced that “[t]The deficiencies are related to the FDA’s pre-license inspection of the company’s external contract manufacturing organizations.”
As a result of this news, ImmunityBio’s share price fell $3.43 per share, or 55.14%, to close at $2.79 per share on May 11, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Pomerantz was founded by the late Abraham L. Pomerantz, Dean of the Class Bar Association, and pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The company has filed numerous multimillion-dollar claims on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
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