NEW YORK, NY - March 24, 2026 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against ImmunityBio, Inc. (“ImmunityBio” or the “Company”) (NASDAQ: IBRX).
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On March 24, 2026, before markets opened, the United States Food and Drug Administration (“FDA”) issued a warning letter to ImmunityBio. The FDA stated in the warning letter that a TV ad and podcast, which can be accessed through ImmunityBio’s website, has been determined to be “false or misleading.” The FDA also stated that “Untitled Letters dated September 9, 2025, and January 7, 2026” were sent to “Altor BioScience, LLC (an indirect wholly-owned subsidiary of ImmunityBio, Inc.) [which] addressed presentations of Anktiva that were, in certain respects, similar to presentations in the TV ad and podcast addressed in this [warning] letter.” “[D]espite receiving these previous Untitled Letters, ImmunityBio continues to promote Anktiva in a similarly misleading manner.”
The same day, March 24, 2026, Barrons and other news outlets reported on the March 13 FDA warning letter, stating that the FDA accused ImmunityBio of “misrepresenting Anktiva’s efficacy and administration, violating federal law.” According to Barrons, the FDA said in the March 13 warning letter that “[i]n a television ad and a podcast interview, ImmunityBio misrepresented the efficacy of the drug, suggested it could be injected, and omitted certain risks and facts.” Additionally, Barrons states that “[i]n the television ad flagged by the FDA, ImmunityBio Chief Medical Officer Dr. Patrick Soon-Shiong said researchers had the ability to create a ‘cancer vaccine’ while an image of a vial of Anktiva appeared on the screen.” Further, the Barrons article states that Dr. Soon-Shiong appeared on a January 19 podcast stating in reference to Anktiva that “[i]t’s approved for bladder cancer, but it actually can treat all cancers.”
Following this news, the price of ImmunityBio stock fell $1.98 per share, about 21%, to close at $7.42 per share on March 24, 2026.
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KAPLAN FOX & KILSHEIMER LLP
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KAPLAN FOX & KILSHEIMER LLP
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(415) 772-4704
lking@kaplanfox.com
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