ImmunityBio Investors Rally Behind Cancer Trial Milestone

ImmunityBio Inc. (NASDAQ:IBRX) shares are up during Thursday’s premarket session as the company has completed enrollment in its pivotal randomized trial evaluating Anktiva plus Bacillus Calmette-Guérin (BCG) against BCG alone for treating non-muscle invasive bladder cancer.

85% Patients Maintain Complete Response

The trial, known as QUILT 2.005, has enrolled 366 patients ahead of schedule, with interim analysis indicating that 85% of those receiving Anktiva plus BCG maintained a complete response at six months, compared to 57% for BCG alone.

The company anticipates submitting a biologics license application (BLA) to the FDA by the fourth quarter of 2026 based on these promising results.

In addition, the interim analysis demonstrated a statistically significant improvement in the duration of complete response at nine months, with 84% of patients in the ANKTIVA plus BCG arm maintaining a complete response compared to 52% in the BCG-only group.

Anktiva Sales Surge: 750% Unit Increase

ImmunityBio reported a remarkable year-over-year revenue increase, with sales jumping from $7.56 million to $38.29 million, surpassing the consensus estimate of $37.02 million.

The company also noted a 750% unit sales volume increase for Anktiva, which is now approved in 33 countries for treating non-muscle invasive bladder cancer.

Technical Analysis

Currently, the stock is trading 2.41% above its 20-day simple moving average (SMA), indicating short-term strength, but lacks data on longer-term SMAs. Shares have increased significantly over the past 12 months and are positioned closer to their 52-week highs than lows, suggesting a robust upward trend.

The RSI is at 50, indicating a neutral position, while MACD data is not available for analysis. This neutral RSI suggests that the stock is neither overbought nor oversold, providing a balanced outlook for traders.

The combination of a neutral RSI and the absence of bearish MACD signals suggests mixed momentum, indicating that traders should watch for potential shifts in direction.

• Key Resistance: $12.50
• Key Support: $9.00

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $12.60. Recent analyst moves include:

• HC Wainwright & Co.: Buy (Raises Target to $15.00) (Feb. 23)
• D. Boral Capital: Buy (Maintains Target to $23.00) (Feb. 23)

IBRX Price Action: ImmunityBio shares were up 3.97% at $9.91 during premarket trading on Thursday.

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