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Critical Information: $1.98 Per Share Loss Quantifies Alleged Investor Damages After FDA Warning Letter
NEW YORK, April 22, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP reminds purchasers of ImmunityBio, Inc. (NASDAQ: IBRX) securities of a pending securities class action.
THE CASE: A class action seeks to recover damages for investors who purchased IBRX securities between January 19, 2026 and March 24, 2026.
YOUR OPTIONS: You may be entitled to compensation without payment of any out-of-pocket fees. See if you can recover losses from your IBRX investment or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
On March 24, 2026, ImmunityBio shares lost $1.98 per share, falling 21% to close at $7.42. The day prior, shares had traded as high as $9.40. The collapse followed the publicization of an FDA Warning Letter that determined ImmunityBio's promotional communications about its bladder cancer drug ANKTIVA were false or misleading and misbranded the product in violation of federal law.
The March 24 Market Repricing
The market removed artificial inflation from IBRX shares after the FDA Warning Letter revealed that the Company's Executive Chairman had made claims about ANKTIVA that the agency found to be unsupported by clinical data. The FDA determined that a TV advertisement and a January 19, 2026 podcast appearance created "a misleading impression that Anktiva, a treatment for a certain type of bladder cancer, can cure and even prevent all cancer." The filing states that the FDA called these violations "concerning from a public health perspective" because they "grossly misrepresent the benefits of Anktiva."
How the Market Absorbed the Corrective Disclosure
What the Decline Measured
The lawsuit contends that the stock price decline on March 24, 2026 represented the removal of artificial inflation that had entered IBRX shares beginning January 19, 2026 when the Executive Chairman appeared on a nationally broadcast podcast and made sweeping claims about ANKTIVA's capabilities. According to the action, shareholders who purchased IBRX stock at prices inflated by these allegedly false statements suffered direct, quantifiable financial harm when the FDA's findings corrected the market's understanding of the drug's actual approved use and clinical evidence.
"When companies fail to disclose material information, shareholders may suffer significant losses. The sharp repricing of IBRX shares after the FDA Warning Letter suggests the market had been relying on promotional claims that the agency determined were false or misleading." -- Joseph E. Levi, Esq.
Calculate your potential recovery in the IBRX securities action or call (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. The last day to move for lead plaintiff is May 26, 2026.
Frequently Asked Questions About the IBRX Lawsuit
Q: How much did IBRX stock drop? A: Shares fell approximately 21%, a decline of $1.98 per share, after the FDA Warning Letter regarding false and misleading promotional communications about ANKTIVA became public. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.
Q: When did ImmunityBio allegedly mislead investors? A: The class period runs from January 19, 2026 to March 24, 2026. The alleged fraud was revealed through the publicization of an FDA Warning Letter on March 24, 2026, causing a significant stock decline.
Q: What do IBRX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my IBRX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
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