ImmunityBio Crashes On FDA Warning Over Anktiva Claims

ImmunityBio, Inc. (NASDAQ: IBRX) shares fell 21.60% to $7.37 following a warning from the FDA regarding misleading promotional claims for its drug Anktiva. The FDA determined that the company's advertising made unsupported claims about the drug's effectiveness against cancer and suggested unapproved uses, violating federal law. The agency has requested ImmunityBio to cease these misleading communications and issue corrective messaging.