StockNews.AI
IBRX
Benzinga
106 days

ImmunityBio Slapped With FDA Refusal To File Letter For Expanded Use Of Its Bladder Cancer Drug

1. IBRX received an FDA Refusal to File letter for sBLA of ANKTIVA. 2. Despite positive earlier feedback, FDA's RTF letter announced unexpected inconsistencies. 3. The RTF doesn’t affect previous ANKTIVA approval for another NMIBC indication. 4. Data presented showed impressive long-term survival rates in patients. 5. IBRX stock fell 16.50% in premarket trading following the news.

4m saved
Insight
Article

FAQ

Why Very Bearish?

The unexpected FDA rejection impacts IBRX's market confidence, leading to significant stock decline. Similar situations historically result in long-term drops in biotech stock prices, particularly post-RFDA decisions.

How important is it?

The article discusses a critical regulatory setback, significantly affecting IBRX’s operations and stock performance.

Why Short Term?

The immediate market reaction is negative, reflecting investor concern. Recovery may depend on IBRX's ability to resolve issues with the FDA quickly.

Related Companies

Related News