ImmunityBio Files 8-K for Material Definitive Agreement

TL;DR

IBIO filed an 8-K for a material agreement - details TBD.

AI Summary

ImmunityBio, Inc. entered into a Material Definitive Agreement on July 13, 2024. The filing does not disclose specific details of the agreement, its counterparty, or any associated financial terms. This is a standard 8-K filing to report a significant event.

Why It Matters

This filing indicates a significant event for ImmunityBio, Inc., likely involving a new partnership, acquisition, or other substantial business transaction that could impact its future operations and stock.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the material agreement.

Key Numbers

• 001-37507 — SEC File Number (Identifies the company's filing history with the SEC.)
• 43-1979754 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• ImmunityBio, Inc. (company) — Registrant
• July 13, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• San Diego, California (location) — Address of principal executive offices
• NantKwest, Inc. (company) — Former company name
• Conkwest, Inc. (company) — Former company name
• ZelleRx Corp (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share IBRX The Nasdaq Global Select

Filing Documents

• ibrx-20240713.htm (8-K) — 35KB
• 0001326110-24-000093.txt ( ) — 160KB
• ibrx-20240713.xsd (EX-101.SCH) — 2KB
• ibrx-20240713_lab.xml (EX-101.LAB) — 21KB
• ibrx-20240713_pre.xml (EX-101.PRE) — 12KB
• ibrx-20240713_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, commencing in December 2022, Altor BioScience LLC ("Altor") and NantCell, Inc. ("NantCell"), wholly-owned subsidiaries of ImmunityBio, Inc. ("ImmunityBio" or the "Company"), filed an arbitration demand against Dr. Hing Wong, former CEO of Altor and NantCell, asserting claims for breach of Dr. Wong's contracts with the companies, breach of the covenant of good faith and fair dealing, conversion, fraudulent concealment, unjust enrichment, breach of fiduciary duty, and replevin. Also in December 2022, Altor and NantCell filed a complaint in the United States District Court for the Southern District of Florida against HCW Biologics, Inc., Dr. Wong's new company ("HCW" and, together with Dr. Wong, "Respondents"), asserting claims for misappropriation of trade secrets under both Florida and federal law, inducement of breach of contract, tortious interference with contractual relations, inducement of breach of fiduciary duty, conversion, unjust enrichment, replevin, request for assignment of patents and patent applications, and establishment of a constructive trust. The parties ultimately agreed to consolidate all claims in a single arbitration (collectively, the "Consolidated Arbitration"). On July 13, 2024, the parties entered into a definitive Settlement Agreement and Release to resolve the claims asserted in the Consolidated Arbitration and related matters (the "Settlement"), pursuant to which Respondents transferred and assigned to ImmunityBio ownership of intellectual property (including issued patents, pending patent applications, and know-how) and pre-clinical and clinical drug candidates that the Company believes has the potential to become an important component of the Company's fusion protein platform against oncology indications in the years to come. Under the terms of the Settlement, in part and for no monetary consideration from ImmunityBio, Respondents have transferred and assig

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IMMUNITYBIO, INC. Registrant Date: July 17, 2024 By: /s/ David C. Sachs David C. Sachs Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR