David Din, CFA

@ActionFixesFear Congrats Freedom. This is a great article. Thank you for this!

$IBRX Warning Letter. 21% stock drop. $2 billion wiped out. Five class action lawsuits. That was the headline. Today, ImmunityBio filed its formal response to the FDA. Inside it: a single footnote that cites the government's own words against itself. And a revelation that one of the two things the FDA warned them about was never even shown to the public. THE PHANTOM AD The FDA's Warning Letter cited two pieces of content: a TV advertisement and a podcast titled "Is the FDA BLOCKING Life Saving Cancer Treatments?" In its response, ImmunityBio informed the FDA that the television advertisement was never aired. Never broadcast. Never disseminated to the public. The ad the FDA warned them about does not exist in the wild. The FDA issued a formal Warning Letter - the kind that crashes stock prices and triggers class action lawsuits - partly about content that never reached a single patient. The podcast was real. ImmunityBio removed it from its corporate website and requested removal from third-party platforms. Corrective action taken. No argument. But the TV ad? A phantom. THE RESPONSE ImmunityBio's response is textbook compliance. No fighting. No defiance. No tweets from @DrPatrick . The spokesperson is Richard Adcock, President and CEO - not the founder. The corrective actions: - Comprehensive review of all promotional materials - Mandatory executive training on FDA promotional regulations - Expanded Promotional Review Committee protocols - Engagement of external regulatory counsel to audit future communications Adcock's statement: "ImmunityBio takes promotional compliance with the utmost seriousness. We are dedicated to maintaining a clear distinction between our investigational pipeline aspirations and the promoted indications for our approved therapies." That is a company doing everything the FDA asked. Removing content. Training executives. Hiring outside auditors. Separating the vision from the label. THE FOOTNOTE Then comes the section titled "Clarifying the Context of Scientific Innovation." ImmunityBio explains that Dr. Soon-Shiong's statements on the podcast were "aspirational and forward-looking opinions regarding his vision for the company's drug development pipeline and the underlying science." And then a single bullet point that changes everything: "The characterization of the IL-15 molecule, the foundation of ANKTIVA, as a highly promising agent was based on an independent assessment by the National Cancer Institute (NCI) during its Immunotherapy Agent Workshop dated July 12, 2007." Read that again. The FDA warned ImmunityBio for calling IL-15 the most promising molecule in cancer immunotherapy. ImmunityBio's response: a fellow agency within the same federal government - the National Cancer Institute - said it first. Nineteen years ago. In a formal workshop attended by scientific leaders from the NCI, NIH, FDA, AACR, and ASH. Where 124 agents were nominated, 30 were presented, and 20 were ranked. IL-15 was ranked #1. The molecule ranked #2 on that same list became Keytruda - the top-selling drug in the world at $25 billion in annual revenue. The government is warning a company for repeating what the government itself concluded in 2007. That is the footnote. And the footnote is the entire story. MEANWHILE, IN JEDDAH On the same day this response was filed, a Saudi molecular biochemistry consultant posted from Jeddah: "Dr. Patrick Soon-Shiong points to two potential paths for patients: Either waiting on long lists in the United States until the treatment is approved, Or heading to Saudi Arabia to start treatment directly. The technology is currently available at King Faisal Specialist Hospital." That is not an IBRX investor. That is a Saudi medical professional telling American cancer patients to fly to Riyadh. Because while the FDA spends its time policing a podcast about whether IL-15 is promising, the Saudi FDA approved ANKTIVA for both bladder cancer and lung cancer. King Faisal Specialist Hospital - the institution where PSS signed an MOU during the Trump-MBS summit in May 2025 - has the technology available. The FDA has the resources to issue Warning Letters about television advertisements that were never aired. The FDA does not have the resources to approve ANKTIVA for lung cancer - the indication where Saudi Arabia already approved it, where a Saudi doctor is now publicly telling American patients to fly east for treatment developed in Los Angeles. THE LAWSUITS Within days of the stock dropping 21%, the ambulance chasers arrived. Hagens Berman. Pomerantz. Kirby McInerney. Kahn Swick & Foti. At least five law firms filed securities class action lawsuits. The headlines: "$2 Billion Market Capitalization Wiped Out." "Securities Fraud." "Misleading Cancer Treatment Claims." The class period: January 19, 2026 (when the podcast aired) through March 24, 2026 (when the stock dropped). Lead plaintiff deadline: May 26, 2026. If you own shares, you got the emails. You saw the press releases. They were designed to make you panic. That is how predatory class action firms work - they file the moment any biotech drops 20% on regulatory news, attach the scariest headlines they can find, and hope enough shareholders sell in fear to create a settlement opportunity. Now look at what today's response actually does to those lawsuits: 1. The TV ad was never aired. A core pillar of the FDA complaint - and by extension the lawsuits - is about content that never reached the public. Hard to claim investors were "misled" by something nobody saw. 2. The NCI footnote. PSS's characterization of IL-15 as the most promising molecule wasn't his opinion - it was the National Cancer Institute's own published assessment from July 12, 2007. That is a factual basis, not puffery. The lawsuits allege PSS made "unsupported claims." The NCI's own workshop is the support. 3. ImmunityBio explicitly invoked safe harbor language - PSS's statements were "aspirational and forward-looking opinions." Securities fraud claims against forward-looking statements face a high dismissal bar. 4. Comprehensive corrective action was taken immediately - removing the podcast, training executives, hiring external counsel. That eliminates the "they knew and refused to act" element that class actions need. These lawsuits are standard predatory filings. They are filed against virtually every biotech that experiences a significant stock drop on regulatory news. Most get dismissed or settled for nuisance value. Today's response gives ImmunityBio strong ammunition for a motion to dismiss. If you sold because of those lawsuit headlines, understand what you sold: a company whose founder quoted the government's own assessment, whose TV ad never aired, and whose corrective actions were already in place before the lawsuits were even filed. THE PICTURE Zoom out. - March 13: FDA issues Warning Letter about promotional language. - March 24: FDA Warning Letter reaches the market. Stock drops 21%. - March 26: IDMC confirms statistical power for the BCG-naive randomized trial. The data is real. - March 31: $100M financing closes. $75M non-dilutive from Oberland. PSS takes the dilution on himself. - April 1: Phase 3 sepsis trial filed. First non-cancer indication. 200,000 American deaths per year with no approved immunotherapy. - April 4: PSS posts the 2007 NCI Workshop findings. Hotchkiss 2014. Cordon-Cardo 2020. The thesis is public. - April 5: Saudi doctor posts about ANKTIVA availability at King Faisal Specialist Hospital. - April 6: ImmunityBio files its FDA response. Cites the NCI's own 2007 assessment as the basis for PSS's claims. The footnote. - April 15: The sepsis trial starts. The FDA is policing language. PSS is treating patients. The 2007 NCI Workshop is being used as both the investment thesis and the legal defense. And the molecule the government ranked #1 nineteen years ago is finally being deployed - not because the government built it, but because one man and his team did. The footnote is louder than the Warning Letter. Stay tuned.

@DrPatrick Still, it took you, your willpower, and your strength to solve this puzzle and create a solution.

Imagine that the knowledge of immune dysfunction existed since 2007 of the underlying cause of death in patients with sepsis. Ironically the same year of the NCI workshop demonstrating the importance of cytokines to modulate immune dysfunction. "A new skin for the old ceremony" is the title of this sepsis paper (Monneret 2007), remarkably almost two decades ago. "...almost 20 years of anti-inflammatory clinical trials have had only a modest effect in decreasing mortality." Time to shed the old ceremony and implement a new skin by addressing lymphopenia. Monitoring immune dysfunctions in the septic patient: a new skin for the old ceremony pubmed.ncbi.nlm.nih.gov/18026569/ NCI Workshop 2007 sitc.sitcancer.org/news/nci_manus…

@Oshin76 And if you take Anktiva early enough, you will live long and prosper. And you will not even get cancer.

@DavidDin Even when receiving Anktiva a smaller dose of chemo it required to smoke the cancer cells out so that NK cells can find them more easily.

$IBRX I just realized something important is missing from the discussion about the pros and cons of Anktiva versus chemotherapy. CHEMOTHERAPY IS BRUTAL. It ravages both body and mind. Nausea, crushing fatigue, the feeling that your whole body is on fire, hair loss, and “chemo brain.” No wonder so many cancer patients fear the treatment more than the disease itself. That fear is completely valid. Forcing cancer patients to endure chemo instead of effective alternatives like Anktiva — when those alternatives offer similar or better survival chances — would be outright cruel. In my view, the humane approach is to give patients the real choice between chemo and Anktiva. Chemotherapy should be reserved as the last line of defense for cancer patients — only after all other effective options, including Anktiva, have been exhausted — not the other way around. Two recent examples from movies and books perfectly underscore this point: (1) In The Bucket List, Jack Nicholson’s character sneers, “I love the smell of chemo in the morning,” right before the chemo hits his body. What follows is hell: gut-wrenching vomiting, crippling fatigue, and waves of pain that break both body and spirit. Morgan Freeman and Nicholson don’t just act it — they make you feel the brutality. (2) In Andy Weir’s Project Hail Mary, a company develops a chilling solution: putting cancer patients into a long-term coma so they don’t have to consciously endure chemotherapy. No awareness of the vomiting, bone-deep exhaustion, or loss of dignity — just darkness while the poison does its work. That’s how horrific chemo is portrayed: the “cure” is so brutal that the best option is to erase the patient’s consciousness during treatment. The discussion around Anktiva shouldn’t focus only on raw survival numbers. It should also include an honest acknowledgment of the very real horrors and deep fears cancer patients face when confronted with chemotherapy. An official study called "Refusing Treatment" shows 3–19% of patients refuse recommended chemotherapy, with ~9.6% declining in breast cancer cases. Fear of brutal side effects is a real factor — even if not always the only one. That’s why advances beyond traditional chemo matter so much. Maybe ImmunityBio could consider weaving this powerful patient perspective into their marketing and PR efforts. Highlighting not just the clinical data, but also the human reality of avoiding chemotherapy’s brutality could strongly resonate with patients, caregivers, and physicians. It would help position Anktiva as a truly humane breakthrough in cancer treatment. Cancer patients have every right to say 'No' to chemo. Their body. Their life. Their choice. Anything less is medical bullying, not care.

@aakashgupta @grok do you only drink the liquid or do you also eat the soaked peanuts?

Peanuts in Coke is one of the most accidentally perfect food pairings in history, and the chemistry explains why this guy can't go back. Coca-Cola sits at pH 2.5, roughly the same acidity as stomach acid. When you drop roasted peanuts into that, the phosphoric acid partially denatures the surface proteins on the nut, releasing free glutamate. You're generating umami in real time inside the glass. The salt on the peanuts suppresses bitter taste receptors on your tongue, which amplifies your perception of sweetness without adding a single gram of sugar. Coca-Cola already has 39g of sugar per can. Your brain registers it as even sweeter because the salt is clearing the noise from competing flavor signals. Then carbonation does two things. CO2 dissolved in liquid forms carbonic acid, which triggers pain receptors (TRPA1), not taste receptors. That mild irritation resets your palate between sips so you never get flavor fatigue. Every sip hits like the first. Second, the bubbles physically agitate the peanut surface, accelerating the protein breakdown and glutamate release. The longer the peanuts sit, the more umami you extract. The fat content seals it. Peanuts are 49% fat by weight. Fat is the only macronutrient that activates CD36 receptors, which your brain interprets as richness and satisfaction. Mix that with sugar, salt, acid, umami, and carbonation and you've accidentally triggered every major reward pathway in the human taste system simultaneously. Georgia farmers in the 1920s did this because they needed one hand free while working. They stumbled into the optimal salt-acid-umami-fat-carbonation loop a century before food science could explain why it worked.

Anktiva is a cure for Sepsis. In his great interview with Charlie Kirk @DrPatrick told the story of a sick person with Sepsis who had received the last rites and was expected ot to survive. This person was given Anktiva. And yes, this person survived. Now we are getting more and more clinical evidence that Anktiva is a cure for Sepsis. Every time @DrPatrick has said something about Anktiva he has been proven right and he has delivered. Not once did he say anything that has not come into effect. Shareholders should start listening to what Dr Patrick is saying, because the share price does not yet reflect the full potential of Anktiva.

@DNV99999 Agree

Very importantly, with this New $100 Million Financing, we $IBRX Shareholders can now rest assured that for the next 18/24 months there will be NO Need for ATMs, while IBRX could become Self-Sufficient thanks to the Increasing Revenues of Anktiva

@HGMaassen @zac1967 Hehehe

Ich freue mich darauf!

@DrPatrick I cannot Imagine you ever giving up. You are an equal among giants such as Musk and Karp. Changing the world for the better.

Capital in place.Approvals in 34 countries. Indication expansion globally in motion. Pipeline of combination trials cooking. Immunotherapy 2.0. Never give up.

@bullishbruk @DrPatrick @DawnsMission The lid has been blown off. There is no stopping this anymore. They are still trying to delay, but that’s all they can do.

$IBRX: It’s inevitable. Anktiva is headed for global approval across all tumor types, including Lymphopenia. A breakthrough of this magnitude can't stay under the radar forever. @DrPatrick @DawnsMission

@iamtobi Yes please

Can I ask you all for a little favor? In Switzerland we have an abandoned rest stop since 2003 at one of the most beautiful lakes (Lake Walensee) and one of the most popular highways between Zurich and Graubünden. I think it would be a perfect place for Tesla to reopen it with the first Tesla Diner in Europe. What do you think? I would appreciate every support to bring this topic on Tesla's management table. 🍔⚡️🇨🇭 @Tesla @TeslaCharging @teslaeurope @elonmusk @woodhaus2

@dannycheng2022 From what I learned from you: this is bullish!

It is unusual to see 3 consecutive volatility holes in any index fund, but the Dow Jones is experiencing them now. Buckle up!

@Cindychwang @DrPatrick Thank you Cindy!

@DavidDin @DrPatrick Great post! 👏

$IBRX Today's drop in the share price is no fun. You guys know I am all in, and I can take it. Still — wishing I was smart enough to sell high and buy back lower. Sigh. In my view, @drpatrick and his team had no other choice than what they did. I remember when I discovered ImmunityBio in March 2025. I am a total geek when it comes to new technologies for healthcare, supplements, longevity… and I had never ever heard about ImmunityBio before I listened to Dr. Soon-Shiong on that podcast with Tucker Carlson. In hindsight it is clear to me that management had no other choice than making bold claims to generate interest. Nevertheless, I am convinced that I have never heard them make a single statement that wasn’t true. @drpatrick is an old-school gentleman, and everything he has ever said since I started following him is pure gospel to me. He has never exaggerated anything, and he has never pushed aggressive PR like I would have wished sometimes. He has informed us on X about every single step he was taking with his company, and he has never overpromised. On the contrary, I believe he held back. He knew he had to circumvent the US FDA through the strategic partnership with Saudi, and now the whole world has started approving Anktiva. So he got warning letters from the FDA, and he didn’t react aggressively. So what? A real, world-changing entrepreneur will always choose the route of asking for forgiveness afterwards instead of asking for permission beforehand. He did what he had to do. In my view, he had no other choice. I just checked again what happened in early May 2025, when the US FDA shocked the company with its Refusal to File for the bigger bladder cancer market. At that time the stock tanked about 25% in four straight trading days, and then started a strong rebound after presenting higher-than-expected revenue figures. There are a lot of new investors in ImmunityBio who know little about the company, and a drop like this after such news is normal. I am sure there will soon be some very good news again from @drpatrick. The stock was ready to go to $15. Instead we actually saw the share price re-visit the lower Fibonacci level… Live long and prosper with Anktiva. Show the cancer survivors to the world and let them tell their stories. The public can connect the dots themselves. They will understand that Anktiva can cure cancer without the company having to say it again. Mission accomplished.

@DustinHuntwn I admire your restraint.

$IBRX Vinay Prasad from the FDA is leaving! maybe this was his last revenge. Vinay Prasad, the Trump administration regulator who angered pharma companies and crushed the hopes of patients with rare diseases with a series of controversial decisions to reject new drug applications, will leave the agency next month. Is this cheat still working at the FDA on behalf of Big Pharma??? Sure seems this way. He doesn't actually leave until some time in April.

@jakeglmn @Jarrod61189023 @grok how do I get this water?

Good question, this is a pretty common misconception. Hydrogen peroxide (H₂O₂) is not a source of molecular hydrogen gas. It contains hydrogen chemically bonded within the molecule, not hydrogen gas floating free. Molecular hydrogen gas (H₂) is the form of hydrogen being talked about + where the benefits come from. Hope this helps/makes sense

Scientists may have found proof that hydrogen water reverses what doctors call "inevitable" cellular aging. A 6-month study showed telomeres — the biological clock inside every cell — actually grew. People drinking regular water? Theirs shrank. Here's the breakdown:

Hehehe. „Think about it.“ That would be THE slogan for ImmunityBio With the potentiell to become a classic.

$IBRX I’ve read and reread the FDA’s warning letter about ImmunityBio’s alleged “misleading statements” on Anktiva multiple times now, and something still doesn’t add up. It feels like the agency may have overstated the claims, stretched the interpretation, and come across as overzealous—potentially misleading the public in the process. Think about it. @DrPatrick @LoriMills4CA42

@bullishbruk Agree again.

$IBRX — IMO, March is packed with potential surprises, and they could drop any day now. Pay very close attention to the next PR. Shorts are about to get blindsided with zero warning. This one’s going to hurt. DYOR. Not financial advice!

@BillMur81205942 @DrPatrick Nobody is going to shut down this company

@DavidDin @DrPatrick I bought more at 7.04. Will just keep buying and buying until they just shut the company down. That is what they will have to do. Or blow the world up

@bullishbruk Thank you Bullish

@DavidDin David, it is nice to hear from you!

$IBRX $2, $3, $4…..$12..$25 price fluctuation doesn’t matter what matters is that ANKTIVA is immunotherapy 2.0 and my PT is still @$80