ImmunityBio Shares Slide 33% After Public Offering Prices

Dow Jones2024-12-12

By Katherine Hamilton

ImmunityBio shares lost a third of their value Wednesday after the company shared pricing for its public offering.

Shares fell 32.2% to $3.15 in recent trading. The stock had fallen about 43.8% over the past six months.

The biotechnology company said the pricing of its public offering of about 33.3 million shares of common stock will be $3 a share. It expects to receive gross proceeds of about $100 million.

The offering is expected to close around Dec. 12, ImmunityBio said. The company has granted underwriters a 30-day option to purchase additional common stock shares, up to 5 million, at the same $3 price.

ImmunityBio said it plans to use the proceeds from this offering to fund commercialization for its bladder cancer treatment Anktiva, fund trials in lung cancer and conduct other research and development.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

December 11, 2024 14:37 ET (19:37 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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