IBRX Lawsuit Alleges Chairman Allegedly Overstated Drug Capabilities - ImmunityBio Investors Face Losses Following Chairman Allegedly Overstated Drug Capabilities: SueWallSt

Important Notice Regarding Alleged ANKTIVA Drug Efficacy Misrepresentations

NEW YORK, April 30, 2026 /PRNewswire/ -- SueWallSt notifies investors in ImmunityBio, Inc. (NASDAQ: IBRX) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between January 19, 2026 and March 24, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

IBRX shares lost $1.98 per share, a 21% decline, after an FDA Warning Letter revealed that the Company's promotional claims about its lead drug ANKTIVA were false or misleading. The lead plaintiff deadline is May 26, 2026.

How Alleged False Efficacy Claims Inflated IBRX Stock

ANKTIVA is approved solely for a specific type of bladder cancer, BCG-unresponsive, high-risk, non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ. Bladder cancer itself represents only 4.2% of estimated new cancer cases in 2025, and the approved indication covers an even smaller subset. The drug was studied in a single-arm trial of 77 patients and achieved a complete response rate of 62%. Of those responders, only 40% maintained that response for 24 months or longer.

The lawsuit contends that during the Class Period, promotional communications broadcast to the public grossly overstated what the clinical data actually supported, creating an artificially inflated stock price.

Key ANKTIVA Misrepresentation Allegations for Shareholders

• The Company allegedly promoted ANKTIVA as capable of treating "all cancers" when it is approved only for a narrow subset of bladder cancer
• ANKTIVA was allegedly represented as a cancer vaccine despite having no vaccine mechanism of action; it is an IL-15 receptor agonist
• Promotional materials allegedly suggested ANKTIVA could prevent cancer in radiation-exposed patients, a claim unsupported by any known data
• The drug was allegedly promoted for subcutaneous injection when its approved labeling specifies intravesical use only
• A cohort studying ANKTIVA as a single agent was stopped early for futility, yet promotional statements allegedly suggested standalone efficacy
• The Company allegedly removed the podcast from its website after the FDA Warning Letter, suggesting awareness of the violations

The FDA Regulatory Factor

The FDA's Office of Prescription Drug Promotion determined that both a television advertisement and a podcast featuring the Company's Executive Chairman were false or misleading and misbranded the drug in violation of the Federal Food, Drug, and Cosmetic Act. The agency called the claims "especially concerning from a public health perspective" because they "grossly misrepresent the benefits of Anktiva." The Warning Letter, dated March 13, 2026 and publicized on March 24, 2026, triggered the 21% single-day stock decline.

"This case presents important questions about drug efficacy disclosure obligations in the biotechnology sector. When promotional statements go far beyond what clinical trial data support, investors who relied on those statements to purchase shares may suffer real financial harm," stated Joseph E. Levi, Esq.

Submit your information to join this case or contact Joseph E. Levi, Esq. at (888) SueWallSt.

Applications to serve as lead plaintiff must be filed by May 26, 2026.

Frequently Asked Questions About the IBRX Lawsuit

Q: What is the IBRX class action lawsuit about? A: A securities class action has been filed against ImmunityBio, Inc. (NASDAQ: IBRX) alleging materially false and misleading statements between January 19, 2026 and March 24, 2026. Shares fell approximately 21% after an FDA Warning Letter revealed the Company's drug promotions were false or misleading, causing significant losses for shareholders.

Q: Who is eligible to join the IBRX investor lawsuit? A: Investors who purchased IBRX stock or securities between January 19, 2026 and March 24, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

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 ANKTIVA promotions was publicized. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.

Q: What do IBRX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at jlevi@SueWallSt.com or (888) SueWallSt. No immediate action is required to remain eligible as a class member.

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:

SueWallSt

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

SOURCE SueWallSt.com