ImmunityBio's bladder cancer therapy rejected by FDA, stock plummets.
The FDA has rejected ImmunityBio's biologics license application for a specific bladder cancer, citing deficiencies related to an inspection of a third-party contract manufacturer. The rejection caused the biotech's shares to tumble about 50%. ImmunityBio's Anktiva, or N-803, will need a satisfactory resolution of the observations before a BLA approval.