Stock Market Today, Jan. 16: ImmunityBio Soars After Anktiva Revenue Jumps 700 Percent Year Over Year
ImmunityBio (NASDAQ:IBRX), cancer and infectious disease immunotherapy developer, closed Friday at $5.52, up 39.75% for the session. The stock climbed after Premarket updates highlighted explosive Anktiva revenue growth, positive oncology trial data, and new regulatory approvals, and investors are watching upcoming BLA plans and broader Anktiva commercialization traction next.
Trading volume reached 176 million shares, about 1,254% above its three-month average of 13 million shares. ImmunityBio IPO'd in 2015 and has fallen 85% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) slipped 0.06% to 6,940, while the Nasdaq Composite (NASDAQINDEX:^IXIC) eased 0.06% to finish at 23,515. (NASDAQ:IOVA)(NASDAQ:IOVA)and Krystal Biotech (NASDAQ:KRYS) , were up 6.31% and 1.07%, respectively, today. Iovance Biotherapeutics (NASDAQ:IOVA) closed at $2.36, up 6.31%, and Krystal Biotech (NASDAQ:KRYS) ended at $285.04, gaining 1.07%, as investors reassessed oncology drug developers.
What this means for investors
Today’s stock movement could be attributed to the news before the market opened that the company’s preliminary 2025 net product revenue for its drug Anktiva came in around $113 million. This represents year-over-year revenue growth of 700% and 431% growth for the quarter. The company also shared positive news about its bladder cancer drug trial, reinforcing expectations for a future application for approval. Taken together, these two new items likely spurred the market reaction.
However, the stock also had a decent amount of short interest, suggesting that some of today’s nearly 40% increase could have come from short positions being closed out. Even with today’s movement potentially driven by shorts closing their positions, the news was positive for the company and should encourage current shareholders and potential investors alike.
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Jeff Santoro 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.
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