On June 17, ImmunityBio fell 5.12% in regular trading, trading at $6.765/share, with turnover of $68.427 million. The decline is primarily attributed to ongoing pressure from an FDA warning letter targeting the company's marketing practices for its core drug Anktiva.

The FDA's Office of Prescription Drug Promotion (OPDP) issued a formal warning letter citing misleading promotional practices for Anktiva (nogapendekin alfa inbakicept-pmln), an IL-15 receptor agonist designed to promote NK cell and CD8+ T cell proliferation. This marks the first formal warning letter from OPDP this year, following two prior untitled letters issued to the company's subsidiary Altor BioScience. Although ImmunityBio has responded with clarifications and corrective actions — noting the controversial TV advertisement was never publicly aired and removing disputed podcast content — compliance risks continue to weigh on sentiment.

The stock faces compounded headwinds from post-ASCO profit-taking pressure after clinical catalysts were realized in late May. With the company still operating at a loss, market confidence in its commercialization outlook remains challenged.

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