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StocksMediumUpdated•Originally published 7 May 2026•Updated 8 May 2026•

1 min read

ImmunityBio Shares Plunge 21% Amid Class Action Lawsuit and FDA Warning

Key Facts

1ImmunityBio faces a securities class action lawsuit following an FDA warning letter regarding misleading efficacy claims for its product Anktiva.

2The news caused IBRX shares to plunge 21%, resulting in a loss of approximately $2 billion in market capitalization.

26 days ago

Version History

Version 126 days ago

What changed: Added specific Q1 financial performance data, including the significant EPS miss and record revenue growth, along with the subsequent stock price decline.

ImmunityBio (IBRX) is facing intensified pressure following an FDA warning letter and a class action lawsuit alleging misleading claims about its cancer treatment, Anktiva. The company recently reported mixed Q1 financial results, posting an EPS loss of -$0.62, significantly wider than the anticipated -$0.07 loss. Despite the bottom-line miss, quarterly sales reached $44.21 million, surpassing estimates and marking a 168% increase compared to the previous year. Investors reacted poorly to the earnings report, sending the stock down an additional 11.46% in recent trading. The lawsuit, filed by Hagens Berman, accuses the firm of securities fraud, a development that had already contributed to a $2 billion wipeout in market capitalization. Market participants are now weighing the company's robust revenue growth against the severe legal and regulatory hurdles facing its primary biologic pipeline.