ImmunityBio updates Sorrento settlement terms; securities class action filed

ImmunityBio, Inc.

Sorrento settlement hearing set for Aug 14, 2023; two scenarios: pay judgments by Aug 31 or release claims and relinquish NANTibody interests.
If settlement not approved, ImmunityBio will continue pursuing judgment collection; no receivables recorded as of June 30, 2023.
Securities class action filed June 30, 2023 in S.D. Cal. alleging false statements re FDA complete response letter for Anktiva (N-803).
Company believes class action is without merit and intends to defend vigorously; cannot estimate potential loss.
FDA CRL cited deficiencies at third-party contract manufacturers; BLA for N-803 + BCG for bladder cancer not approved.

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