ImmunityBio: A Small Bet Is Warranted

Core Insights - ImmunityBio, Inc. (NASDAQ: IBRX) has seen its shares decline nearly two-thirds over the past 18 months due to cash needs leading to a dilution of 37% [1] Company Overview - ImmunityBio is focused on immunotherapy and vaccine development, specifically its IL-15 super-agonist fusion protein Anktiva [1] Market Context - The company is part of a niche market involving small-cap stocks that have been public for 18 months to 6 years and are significantly under their offering price [1]