10 Stocks Deep in the Red

7. Immunitybio Inc. (NASDAQ:IBRX)

ImmunityBio dropped for a second day on Tuesday, shedding 9.13 percent to close at $2.09 apiece as investors repositioned portfolios while waiting for fresh catalysts from the ongoing Piper Sandler 37th Annual Healthcare Conference.

Earlier, the company announced its participation in the 37^th Piper Sandler Annual Healthcare Conference in New York from December 2 to 4.

Investors are expected to closely watch out for the company’s business updates and outlook related to its clinical pipelines.

Earlier last month, ImmunityBio, Inc. (NASDAQ:IBRX) announced that it narrowed its net loss attributable to shareholders by 21.6 percent to $67.25 million from $85.73 million in the same period last year, driven by increased product revenues and lower related-party interest expense.

Revenues soared by 425 percent to $32.06 million from $6.1 million year-on-year, thanks to strong sales from its non-muscle-invasive bladder cancer (NMIBC) treatment, Anktiva.