On June 17, ImmunityBio rose 5.65% in regular trading, trading at $7.12/share, with turnover of $32.83 million. The stock rebounded after earlier selling pressure triggered by an FDA warning letter was absorbed by the market.

On the news front, the FDA's Office of Prescription Drug Promotion (OPDP) had issued a formal warning letter regarding misleading marketing practices for the company's core drug Anktiva (nogapendekin alfa inbakicept-pmln), an IL-15 receptor agonist. The FDA had previously sent two untitled letters to the company's subsidiary Altor BioScience before escalating to a formal warning. The stock had dropped 21% when the warning was initially disclosed in March.

The company has since issued a formal response clarifying that the television advertisement in question was never publicly aired, pulled related podcast content, and committed to mandatory executive training, expanded promotional review procedures, and engagement of external regulatory compliance auditors. After digesting the compliance overhang, bargain hunters drove the intraday rebound. The company remains in a loss-making state with negative PE, and market confidence in its commercialization outlook continues to be tested.

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