Just one day after its stock soared in response to Macau's approval of its oncology drug Anktiva® as a treatment for certain types of bladder cancer, as of 12:32 p.m. ET today, ImmunityBio (NASDAQ: IBRX) shares are down 22.4%. The prompt? A warning letter from the U.S. Food & Drug Administration indicating that a television ad promoting Anktiva -- as well as comments made by the company's Global Chief Scientific and Medical Officer and Executive Chairman Dr. Patrick Soon-Shiong during a recent podcast -- ...

ImmunityBio, Inc. (NASDAQ:IBRX) shares are trading lower after the FDA issued a warning to the company over misleading Anktiva promotions.ImmunityBio stock is feeling bearish pressure. What’s pressuring IBRX stock?FDA Flags Misleading Promotional ClaimsThe U.S. Food and Drug Administration determined that a direct-to-consumer TV ad and podcast promoting Anktiva were false or misleading and misbranded the drug under federal law. The FDA said the materials made unsupported claims that Anktiva could cure or pr ...