According to the lawsuit, defendants made false and/or misleading statements regarding the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that:
- ImmunityBio conducted insufficient due diligence to discover, or else did discover and ignored, Good Manufacturing Practice (“GMP”) deficiencies at its third-party contract manufacturing organizations (“CMOs”) for Anktiva (N-803, an antibody cytokine fusion protein product candidate);
- one or more of the Company’s third-party CMOs for Anktiva did in fact suffer from GMP deficiencies;
- the foregoing deficiencies was likely to cause the U.S. Food and Drug Administration (“FDA”) to reject the Anktiva Biologics License Application (“BLA”) in its present form;
- accordingly, the Company overstated the regulatory approval prospects for the Anktiva BLA; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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