IBRX Sales Soar 2,540%

Core Insights - ImmunityBio reported a significant increase in revenue for Q2 2025, reaching $26.4 million, surpassing analyst expectations of $23.15 million, driven by strong sales of its immunotherapy product ANKTIVA [1][2] - The company narrowed its net loss per share to ($0.10), an improvement from the projected ($0.11) and a substantial reduction from ($0.20) a year prior, indicating better financial performance [1][2] Financial Performance - Revenue for Q2 2025 increased by 2,540% year-over-year from $1.0 million in Q2 2024 [2] - The GAAP revenue saw a 60% increase compared to Q1 2025, primarily due to rising sales of ANKTIVA for bladder cancer [5] - ANKTIVA unit sales surged 246% in the first half of 2025 compared to the second half of 2024, following the assignment of a J-code for easier reimbursement [5] - Research and Development expenses were reported at $52.4 million, reflecting the company's commitment to pipeline development [2] Business Focus and Strategy - ImmunityBio is focused on ramping up commercial sales of ANKTIVA for bladder cancer and expanding into global markets while investing in a diverse pipeline [4] - The company is pursuing regulatory approvals and maintaining robust sales growth for ANKTIVA, alongside advancing other product candidates into late-stage trials [4] - Recent regulatory developments include approval from the UK MHRA for ANKTIVA in BCG-unresponsive non-muscle invasive bladder cancer, while facing challenges from the FDA regarding a supplemental application [6] Pipeline Development - ImmunityBio launched a pivotal randomized trial for non-small cell lung cancer (NSCLC) combining its proprietary N-803 with BeOne Medicines' tislelizumab [7] - The company is expanding clinical trials into Europe and Asia and has received FDA support for its lymphopenia program [7] - Strategic collaborations with BeOne Medicines and the Serum Institute of India are enhancing manufacturing capabilities for bladder cancer therapies [8] Future Outlook - Management did not provide explicit guidance for the next quarter or fiscal 2025 but emphasized priorities around expanding ANKTIVA's market reach and advancing regulatory filings [9] - The company raised $80 million in equity in July 2025, which may extend its cash runway amid ongoing cash burn and fundraising needs [9][10]