ImmunityBio (IBRX) Stock: This Biotech Doubled in Three Weeks on Cancer Drug Success

TLDR

• ImmunityBio (IBRX) stock jumped 15% to $4.54 on Friday, extending its 2026 gain to approximately 130% with increases every trading day this year
• The company reported preliminary full-year revenue of $113 million for bladder cancer drug ANKTIVA, representing a 700% year-over-year increase
• Saudi Arabia’s Food and Drug Authority approved ANKTIVA for treating metastatic non-small cell lung cancer earlier this week
• Fourth quarter revenue reached $38.3 million, up 20% from the prior quarter and 431% from the same period in 2024
• Analysts covering the stock have an average price target of $10.40, implying 163% upside from Thursday’s closing price

ImmunityBio stock hit a new 52-week high of $4.68 on Friday. The shares traded at $4.54 in early morning activity, marking a 15% jump for the session.

ImmunityBio, Inc., IBRX

The biotech company has gained approximately 130% since January 1st. Shares have climbed during every trading session in 2026.

The company released preliminary earnings results Thursday that showed strong revenue growth. Full-year revenue from bladder cancer drug ANKTIVA reached $113 million. This represents a 700% increase compared to the prior year.

Fourth quarter revenue came in at $38.3 million. This marked a 20% increase from the third quarter. Compared to the same period in 2024, fourth quarter revenue jumped 431%.

International Approval Drives Momentum

The Saudi Food and Drug Authority granted approval for ANKTIVA earlier this week. The drug received clearance for treating patients with metastatic non-small cell lung cancer.

This marks the first global regulatory approval for ANKTIVA outside the United States. The approval allows for a chemotherapy-free immunotherapy treatment option in Saudi Arabia.

Average daily trading volume reached 13.19 million shares. The stock’s 52-week low stood at $1.83.

Only five analysts currently cover ImmunityBio according to FactSet data. Their average price target sits at $10.40 per share. This implies 163% upside from Thursday’s closing price of $3.95.

Clinical Trial Progress

The company’s bladder cancer trial enrollment reached 85% completion. ImmunityBio plans to file a biologics license application by the end of 2026.

The QUILT-106 trial for Waldenstrom’s lymphoma showed promising results. Patients maintained complete remission for up to 15 months after receiving CD19 CAR-NK cell therapy combined with rituximab.

InvestingPro data indicates the stock delivered a 99.49% return year-to-date. The RSI indicator suggests shares are currently in overbought territory.

Analysts anticipate sales growth will continue this year. However, they forecast the company will remain unprofitable in the near term.

The stock traded above its fair value according to InvestingPro analysis. The company’s market position in the biotechnology sector continues to attract investor attention.

ANKTIVA’s adoption as a cancer immunotherapy treatment drove the revenue surge. The drug’s performance exceeded initial market expectations for both quarters and full-year results.

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