Federal health officials have issued a warning to Dr. Patrick Soon-Shiong regarding misleading statements he made about his company’s bladder cancer drug, Anktiva, during a podcast and TV advertisement. The FDA flagged these promotions for implying that Anktiva could treat or cure various other cancers, which is not approved. Following the announcement, ImmunityBio’s shares fell over 24%. The FDA’s letter requires the company to respond within 15 days to address the issues raised, emphasizing the false description of the drug as a “cancer vaccine” and the lack of disclosure regarding its risks and side effects. ImmunityBio has stated that it will work with the FDA to resolve these concerns.
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Link to original article source: https://abcnews.com/Health/wireStory/fda-flags-misleading-claims-cancer-drug-biotech-billionaire-131368873
