Investors with Substantial Losses Have Opportunity to Lead ImmunityBio Class Action Lawsuit

Hagens Berman investigating claims that ImmunityBio misled investors about its lead biologic product Anktiva

Apr. 10, 2026 at 10:57pm by

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A photorealistic studio still-life featuring a shiny metal syringe and vial on a clean, monochromatic background, conceptually representing the abstract corporate strategy and financial risks in the biotech industry.A biotech company's misleading marketing claims about a cancer treatment drug come under regulatory scrutiny, exposing investors to potential losses.San Francisco Today

A securities class action lawsuit has been filed against ImmunityBio, Inc. (NASDAQ: IBRX) following news that the FDA sent a warning letter to the company concerning misleading claims made by its executive chairman and Chief Scientific and Medical Officer (Dr. Patrick Soon-Shiong) regarding the efficacy of ImmunityBio's lead biologic product Anktiva. This news drove the price of ImmunityBio shares down over 21% on March 24, 2026.

Why it matters

The lawsuit alleges that ImmunityBio violated federal securities laws by making false and misleading claims about Anktiva's ability to treat all forms of cancer, when the FDA said the company's promotional materials 'grossly misrepresent the benefits of Anktiva.' This could have significant implications for the company and its investors.

The details

The lawsuit seeks to represent investors who purchased or acquired ImmunityBio securities between January 19, 2026 and March 24, 2026. It follows the FDA's warning letter, which stated the company's claims in a podcast and TV ad were 'false or misleading' and created the 'misleading impression that Anktiva, a treatment for a certain type of bladder cancer, can cure and even prevent all cancer.' The FDA also said ImmunityBio's materials failed to provide material information about Anktiva's full FDA-approved indication.

  • On January 19, 2026, a podcast aired featuring ImmunityBio's executive chairman and Chief Scientific and Medical Officer Dr. Patrick Soon-Shiong, who made questionable claims about Anktiva's ability to treat all cancers.
  • On March 24, 2026, it was reported that the FDA sent a warning letter to ImmunityBio over the claims made in the podcast and a TV ad.

The players

ImmunityBio, Inc.

A biotechnology company focused on innovating, developing, and commercializing next-generation immunotherapies, including its lead biologic product Anktiva.

Dr. Patrick Soon-Shiong

The executive chairman and Chief Scientific and Medical Officer of ImmunityBio, who made the allegedly misleading claims about Anktiva in a podcast.

Hagens Berman

A national shareholders rights firm investigating claims that ImmunityBio violated federal securities laws.

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What they’re saying

“We're investigating claims that ImmunityBio intentionally misled investors about Anktiva efficacy and indications.”

— Reed Kathrein, Hagens Berman partner

What’s next

The lawsuit has a lead plaintiff deadline of May 26, 2026. Investors with substantial losses are encouraged to submit their losses to potentially lead the class action.

The takeaway

This case highlights the importance of biotech companies accurately representing the capabilities and limitations of their products, especially when making direct-to-consumer claims. Investors will be closely watching the outcome of this lawsuit and any potential regulatory actions against ImmunityBio.