ImmunityBio, Inc.
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Range $12 – $15
Price Chart
About the company
ImmunityBio, Inc. is a clinical-stage biotechnology firm, founded in 2014 and based in San Diego, California. The company is focused on developing groundbreaking therapies and vaccines designed to treat a wide array of cancers and infectious diseases.
- CEO
- Richard Gerald Adcock
- IPO
- 2015
- Employees
- 688
- HQ
- San Diego, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $8.16B
- P/E
- -8.00
- Fwd P/E
- 20.78
- PEG
- 0.06
- P/S
- 49.22
- P/B
- -7.82
- EV/EBITDA
- -10.02
- Div Yield
- 0.00%
- Gross Margin
- 94.63%
- Op Margin
- -151.88%
- Net Margin
- -598.56%
- ROE
- 134.99%
- ROIC
- -45.01%
Latest fiscal year · YoY change
- Revenue
- $113.29M+668.3%
- Gross Profit
- $112.53M+663.2%
- Op Income
- $-256,027,000
- Net Income
- $-351,398,000+15.0%
- EPS
- $-0.38+35.6%
- OCF Growth
- +22.1%
- FCF Growth
- +22.4%
- 52W High
- $12.43
- 52W Low
- $1.95
- 50D MA
- $7.70
- 200D MA
- $6.25
- Beta
- 0.13
- RSI (14)
- 53
- Avg Volume
- 11.47M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
ImmunityBio said 2025 was a transformational commercial year, with ANKTIVA revenue rising sharply and the company pushing a broader multi-platform immunotherapy strategy into bladder, lung, cell therapy, vaccines, and lymphopenia.· March 3, 2026
- Full-year ANKTIVA net product revenue reached $113 million, up 700% from $14.1 million in 2024.
- Q4 net product revenue rose to $38.3 million from $31.1 million in Q3, a 20% sequential increase.
- The company said ANKTIVA is now authorized in 33 countries across the U.S., U.K., Saudi Arabia, and the EU.
- Management highlighted bladder cancer progress, including full enrollment in QUILT-2.005 and long-duration responses in the BCG-unresponsive setting.
- Leadership framed ANKTIVA as a backbone for combinations with standard of care, checkpoint inhibitors, NK cells, and DNA vaccines.
- The company also introduced askIB, its internally developed AI platform for R&D, manufacturing, and operations.
ImmunityBio reported full-year 2025 net product revenue of $113 million, up 700% year over year from $14.1 million in 2024. Q4 net product revenue was $38.3 million, up from $31.1 million in Q3, or 20% sequential growth. Full-year R&D expense was $218.6 million versus $190.2 million in 2024, while SG&A declined to $150 million from $168.8 million. Net loss attributable to common stockholders improved to $351.4 million from $413.6 million in 2024. Cash, cash equivalents, and marketable securities were $242.8 million at December 31, 2025, and net cash used before operating activities was $304.9 million. Management said no forward financial guidance would be provided on the call. On strategy, the company said it expects to submit a BLA for the BCG-naive bladder indication in Q4 2026, and it said the European launch is being prepared under the conditional marketing authorization granted in February 2026.
Patrick Soon-Shiong spent most of his remarks on the long-term scientific thesis behind ImmunityBio, arguing that the company’s platform is built to activate both innate and adaptive immunity and to address lymphopenia as a core biological problem. He emphasized that ANKTIVA is the backbone of the BioShield platform and said it can be combined with standard of care, cell therapy, and vaccine approaches. His tone was highly expansive and conviction-driven, stressing a decade-long plan, FDA and NCI collaboration, and the idea that the company is building a new treatment paradigm rather than a single product.
Richard Adcock focused on commercial execution and the financial bridge from approval to revenue scale. He cited $113 million in full-year ANKTIVA revenue, 750% unit volume growth, and $38.3 million of Q4 revenue, then pointed to operating discipline with SG&A down to $150 million despite higher clinical and manufacturing investment. He said R&D was $218.6 million, including a normal-course $14 million fixed asset write-off, and noted cash and marketable securities of $242.8 million at year-end alongside $505 million of related-party convertible notes and about $325 million of revenue interest liability. He also highlighted international rollout plans through 33 countries, plus the expanded access eBCG program and the intended Q4 2026 BLA filing for BCG-naive bladder cancer.
On the first analyst question, management tied potential accelerated approval in lung cancer and other settings to the FDA’s emerging “plausible mechanism of action” framework, arguing ANKTIVA’s effect on NK and T cells is biologically aligned with observed outcomes. On the second question, Patrick Soon-Shiong explained how the company is implementing AI-driven robotic cellular manufacturing, describing its m-ceNK and CAR-NK platforms and saying the goal is scalable, lower-cost cell therapy production. The response was more conceptual than operational, but management framed AI and robotic manufacturing as key enablers of future commercialization.
The bull case from this call is that ANKTIVA appears to be gaining real commercial traction, with revenue up sharply, unit volume up 750%, and sequential growth continuing into Q4. Management also pointed to multiple expansion paths already underway or authorized, including bladder, lung, Europe, Saudi Arabia, eBCG, and future combinations with cell therapy and vaccines.
The main risks discussed were that the company is still loss-making, with $351.4 million in net loss and $304.9 million in net cash used before operating activities in 2025, while carrying substantial related-party debt and revenue interest liabilities. Management also flagged regulatory and reimbursement dependencies outside the U.S., including country-by-country European market access, additional FDA data requests for the papillary bladder cohort, and the fact that the company gave no forward financial guidance.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 10.9%
- Shares Outstanding
- 1.05B
- Float Shares
- 113.84M
of shares held by institutions
418 13F filers
Buy/sell ratio 1.22. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for IBRX, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Daniel GoldmanHouse · NY10 | Sell | Mar 6, 23 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 34.08M | ▲ 7.74M |
| Vanguard Group Inc | 32.78M | ▲ 5.12M |
| State Street Corp | 21.40M | ▲ 3.69M |
| Vanguard Capital Management LLC | 15.69M | ▲ 563.87K |
| D. E. Shaw & Co., Inc. | 11.55M | ▼ 1.02M |
| Two Sigma Investments, LP | 11.10M | ▲ 6.71M |
| Geode Capital Management, LLC | 9.85M | ▲ 1.82M |
| Millennium Management LLC | 5.58M | ▲ 4.16M |
| Northern Trust Corp | 3.57M | ▲ 1.06M |
| Morgan Stanley | 3.43M | ▼ 586.19K |
| Goldman Sachs Group Inc | 3.23M | ▼ 2.80K |
| Ubs Group AG | 3.20M | ▲ 250.84K |
Held by 252 ETFs
Biggest fund positions in IBRX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 2, 26 | Cohen Cheryl | other | 55,979 |
| Jul 2, 26 | Cohen Cheryl | sell | 131,210 |
| Jul 2, 26 | Cohen Cheryl | other | 55,979 |
| Jul 1, 26 | Selecky Christobel | other | 124,414 |
| Jul 1, 26 | Selecky Christobel | other | 35,064 |
| Jul 1, 26 | Selecky Christobel | sell | 159,478 |
| Jul 1, 26 | Selecky Christobel | other | 35,064 |
| Jul 1, 26 | Selecky Christobel | other | 124,414 |
| Jun 29, 26 | Selecky Christobel | other | 30,000 |
| Jun 29, 26 | Selecky Christobel | other | 33,549 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our IBRX coverage
Recent articles, reports, and earnings notes.
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Generate IBRX report →Bell & Brown Wealth Advisors LLC Makes New $657,000 Investment in ImmunityBio, Inc. $IBRX
defenseworld.net · Aug 20
Bank of America Corp DE Increases Position in ImmunityBio, Inc. $IBRX
defenseworld.net · Aug 20
ImmunityBio Appoints Dr. Jim Yong Kim, Former World Bank President and Global Health Leader, as Vice Chairman
businesswire.com · Aug 10
IBRX Q2 Earnings & Sales Beat Estimates on Strong Anktiva Uptake
zacks.com · Aug 5
ImmunityBio (IBRX) Reports Q2 Loss, Beats Revenue Estimates
zacks.com · Aug 4
ImmunityBio Reports Record Q2 2026 Net Product Revenue of $50.7 Million, Up 92% Year-Over-Year; First-Half Revenue Up 121% to $94.8 Million
gurufocus.com · Aug 4
ImmunityBio Reports Record Q2 2026 Net Product Revenue of $50.7 Million, Up 92% Year-Over-Year; First-Half Revenue Up 121% to $94.8 Million
businesswire.com · Aug 4
ImmunityBio Achieves World's Broadest Bladder Cancer Approval as UAE Green Lights Lead Drug
benzinga.com · Jul 30
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.