BOSTON, May 11, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating ImmunityBio, Inc. (NASDAQ: IBRX) for potential securities law violations. Investors who have lost money in their ImmunityBio, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ibrx.
What is this all about?
Before the market opened on May 11, 2023, ImmunityBio, Inc. “announce[d] 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.”
The FDA letter cited deficiencies related to the Regulator’s pre-license inspection of the Company’s third-party contract manufacturing organizations that must be satisfactorily resolved before the BLA may be approved.
Shares of ImmunityBio stock plunged more than 50% in premarket trading and were down as much as 58% in early intraday trading once the market opened on May 11, 2023.
Who is eligible?
Anyone who purchased ImmunityBio, Inc. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
