ImmunityBio announced this morning that it had reached a major enrollment threshold for one of its clinical trials.
It also highlighted initial success in treating patients with Non-Hodgkin lymphoma with one of its next-gen therapies.
These developments follow four other significant business updates from earlier this week that have helped the stock double in five days.
Shares of cancer and infectious disease therapy developer ImmunityBio, Inc. (NASDAQ: IBRX), spiked 34% higher as of 1 p.m. ET on Friday and are now up a staggering 127% this week after an incredible slate of good news. This morning, the company announced two bits of great news. First, enrollment for the company's Anktiva therapy exceeded expectations in a trial when treating non-muscle-invasive bladder cancer. This development means ImmunityBio could submit a biologics licensing agreement to the FDA by year's end.
Second, another clinical trial showed that the company's CAR-NK therapy demonstrated 100% disease control in its first four patients with Non-Hodgkin lymphoma. This update could have significant, longer-term implications for ImmunityBio as it develops next-gen therapies beyond its first hit, Anktiva.
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These fantastic updates occur just:
Image source: Getty Images.
The market greeted these six news items with jubilation, as it took a more optimistic view of Anktiva's growing sales, its potentially expanding indications, and ImmunityBio's initial success with longer-term, next-gen therapies. While it is challenging to assign a valuation to ImmunityBio's operations, as it only started generating revenue in 2024, its $5.3 billion market capitalization isn't outrageous given the success it has seen in the last week alone. Armed with roughly $800 million in net cash, ImmunityBio is a well-funded immunotherapy growth stock to watch -- but it could be a volatile ride.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.