FDA rejects bladder cancer therapy developed by Patrick Soon-Shiong’s ImmunityBio
The FDA rejected ImmunityBio’s biologics license application for a specific bladder cancer, and the biotech’s shares $IBRX tumbled about 50% before the opening bell Thursday.
Patrick Soon-Shiong’s ImmunityBio received the complete response letter for Anktiva, or N-803, on Tuesday. The agency cited deficiencies related to an inspection of a third-party contract manufacturer, ImmunityBio said in an SEC filing, noting the “satisfactory resolution of the observations” is needed before a BLA approval.
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