US federal health authorities issued a warning on Tuesday against misleading claims about cancer drugs. The claims were made by Patrick Soon-Shiong, MD, the billionaire owner of ImmunityBio. Soon-Shiong recently said in podcasts that his company's bladder cancer drug may be able to treat other types of cancer. The FDA has called these statements misleading. ImmunityBio recently received FDA approval to conduct a Phase I clinical trial to assess the safety and preliminary efficacy of the so-called "killer cell" drug to fight cancer. ImmunityBio shares rose 9.7% to $16.59 on May 17 after the approval was announced.