ImmunityBio(IBRX) Plunges 11.03% Amid Financial Concerns

ImmunityBio(IBRX) shares plummeted 11.03% today, marking the fourth consecutive day of decline, with a total drop of 20.66% over the past four days. The stock price hit its lowest level since January 2025, experiencing an intraday decline of 12.50%.

ImmunityBio recently announced a $75 million equity financing agreement, which is expected to bolster the company's working capital and support its ongoing operations. This agreement includes a direct offering with the potential for an additional $90 million through warrants, providing a significant financial boost to the company.

Despite the financial injection, ImmunityBio's stock has faced scrutiny due to concerns over the company's financial health and recent leadership transitions. These factors have contributed to a decline in investor confidence, leading to a -7.35% drop in the stock price.

In an effort to address these concerns and engage with investors, ImmunityBio has planned an Investor Day on April 15, 2025. This event will feature in-depth discussions on the company's cancer therapies and regulatory advances, aiming to provide transparency and updates on its clinical programs. This proactive approach is part of ImmunityBio's ongoing efforts to rebuild investor trust and showcase its progress in the biotech sector.