05:32 PM EST, 12/10/2024 (MT Newswires) -- ImmunityBio ( IBRX ) said Tuesday it plans to offer and sell common shares in an underwritten public offering.

The company said it expects to give its underwriters, a 30-day option to buy up to an additional 15% of the number of common shares sold in the offering.

ImmunityBio ( IBRX ) plans to use the net proceeds from the offering to support the commercialization of Anktiv for BCG-unresponsive non-muscle invasive bladder cancer, trials for BCG-naive NMIBC and non-small cell lung cancer, research and development, working capital, and other general corporate purposes.

Shares of ImmunityBio ( IBRX ) were down more than 14% in recent after-hours activity.