Stock Market Today, Jan. 20: ImmunityBio Soars Again After FDA Outlines Resubmission Path for ANKTIVA in Bladder Cancer

Core Viewpoint - ImmunityBio's stock surged by 17.39% to close at $6.48, driven by positive FDA discussions regarding the ANKTIVA label expansion for bladder cancer, with significant trading volume indicating strong investor interest [1][3]. Company Performance - ImmunityBio's trading volume reached 209.3 million shares, approximately 1,000% higher than its three-month average of 19.1 million shares, reflecting heightened investor activity [1]. - Since its IPO in 2015, ImmunityBio's stock has experienced an 81% decline, highlighting the volatility and challenges faced by the company [1]. Market Context - The broader market saw declines, with the S&P 500 falling by 2.06% and the Nasdaq Composite down by 2.39%, indicating a mixed performance in the biotechnology sector [2]. - Within biotechnology, Moderna and Novavax showed positive movements, closing at $43.00 (+4.56%) and $8.20 (+0.49%) respectively, suggesting stock-specific catalysts are influencing performance rather than overall sector trends [2]. Future Outlook - The FDA's End-of-Phase meeting provided a potential resubmission path for ANKTIVA, which could lead to a label expansion for treating BCG-unresponsive papillary bladder cancer, representing a significant opportunity for ImmunityBio [3][4]. - ANKTIVA has shown triple-digit sales growth, albeit from a small base, and its expanding list of potential indications and markets suggests substantial upside potential for the stock [4].