SEC Files Settled Insider Trading Charges Against California Biotech Employee

ADMINISTRATIVE PROCEEDING
File No. 3-22620

April 6, 2026 – The Securities and Exchange Commission today announced settled charges against Watsonville, California resident Caroline J. Campbell for insider trading in advance of an announcement by ImmunityBio, Inc. (NASDAQ: IBRX) that the U.S. Food and Drug Administration had decided to delay approval of ImmunityBio’s drug Anktiva.

According to the SEC’s order, on May 9, 2023, Campbell learned about the FDA’s decision regarding Anktiva through her employment at ImmunityBio. The order finds that, on May 9 and May 10, 2023, Campbell sold 48,495 ImmunityBio shares on the basis of material nonpublic information and in breach of a duty of trust and confidence that she owed to ImmunityBio. According to the order, when ImmunityBio publicly disclosed the FDA’s decision on May 11, 2023, the company’s common stock price declined approximately 55%. As a result, the order finds that Campbell avoided losses of $157,066.28 by selling her ImmunityBio shares before the negative disclosure.

The SEC’s order finds that Campbell violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the SEC’s findings, Campbell agreed to a cease-and-desist order, to pay disgorgement of $157,066.28 and prejudgment interest of $18,130.97, and to pay a $157,066.28 civil penalty.

The SEC’s investigation was conducted by Christine Hom and supervised by Chrissy Filipp and Jason H. Lee of the SEC’s San Francisco Regional Office. The SEC appreciates the assistance of the Financial Industry Regulatory Authority.