ImmunityBio Shares Drop 20 Percent Following FDA Warning
ImmunityBio shares fell 20 percent today after the FDA warned that ads for its cancer drug Anktiva were misleading by claiming it could cure or prevent cancer.
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Shares of ImmunityBio, Inc. plummeted 20% on Tuesday after the United States Food and Drug Administration issued a warning letter regarding the company's promotional tactics for its cancer therapy. The regulator found that a television advertisement and a podcast promoting Anktiva, which received approval for a specific type of bladder cancer in April 2024, were false or misleading and violated federal law.
