Overview
- ImmunityBio shares rose about 12% Tuesday after it disclosed $75 million in new financing and a $25 million debt-to-equity conversion, bringing total fresh capital to $100 million.
- The $75 million comes as non-dilutive funding under an existing Oberland Capital royalty deal, while Nant Capital converted $25 million into 4.6 million shares and reduced a $505 million promissory note.
- The FDA’s Office of Prescription Drug Promotion said March 24 that a TV ad and a direct-to-consumer podcast about Anktiva were false or misleading after Bad Ad Program complaints and ordered the company to stop them and submit a written plan within 15 working days.
- ImmunityBio said it has begun reviewing the FDA letter and plans to respond within the agency’s timeline.
- The company tied the new cash to global rollout plans following recent clearances, including Macau, which it counted as the 34th market alongside the United States, the United Kingdom, Europe, and Saudi Arabia.