May 16, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Kite Pharma Inc (NASDAQ:KITE) shares over potential securities laws violations by Kite Pharma Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Kite Pharma Inc (NASDAQ:KITE) concerning whether a series of statements by Kite Pharma Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Santa Monica, CA based Kite Pharma, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells.

Kite Pharma Inc reported that its annual Total Revenue rose from $17.26 million in 2105 to $22.17 million in 2016 and that its Net Loss increased from $101.65 million in 2015 to $267.07 million in 2016.

Shares of Kite Pharma Inc (NASDAQ:KITE) grew from $40.01 per share in November 2016 to as high $85.92 per share in March 2017.

On May 8, 2017, Kite Pharma Inc disclosed that a cancer patient had died in April 2017 from brain swelling following treatment with the Company's CAR-T therapy KTE-C19.