NEW YORK, May 19, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ImmunityBio, Inc. ("ImmunityBio" or the "Company") (NASDAQ: IBRX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether ImmunityBio and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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ImmunityBio submitted a Biologics License Application ("BLA") for Anktiva to the U.S. Food and Drug Administration ("FDA") 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[.]" Then, on May 11, 2023, ImmunityBio announced that 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."
On this news, ImmunityBio's stock 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 acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
