ImmunityBio, Inc.
IBRX evidence brief
What we can confirm
- BioSniper Score:
- 4.8 / 10
- Market Cap:
- $8.79B
- Lead Asset:
- Anktiva (Phase 3)
What it means
What to watch
Prepared research question
What matters most for IBRX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IBRX
ImmunityBio, Inc. (IBRX) is a biotechnology company focused on immunotherapies for cancer and other diseases, with its approved bladder cancer drug Anktiva (nogapendekin alfa inbakicept) driving recent revenue growth.
Key risk: Negative shareholders' equity
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 38 clinical trials · 3 catalysts for ImmunityBio, Inc..
ImmunityBio, Inc. (IBRX) is a biotechnology company focused on immunotherapies for cancer and other diseases, with its approved bladder cancer drug Anktiva (nogapendekin alfa inbakicept) driving recent revenue growth.
- Cash & equivalents of $75.7M as of 2026-06-30 [sec].
- Total revenue of $51.2M as of 2026-06-30 [sec].
- Net income of -$230.4M as of 2026-06-30 [sec].
- Shareholders' equity of -$1,046.6M as of 2026-06-30 [sec].
- Anktiva (nogapendekin alfa inbakicept) is approved for bladder cancer and is also in Phase 3 for Long COVID [pipeline].
What works
- Revenue growth driven by Anktiva sales: 700% revenue surge in 2025 [news · published 2026-01-15].
- Enrollment in the registrational trial QUILT-2.005 exceeded 85% as of January 2026, with completion projected Q2 2026 [news · published 2026-01-16].
- Multiple ongoing clinical trials across various indications, including a Phase 2a sepsis trial starting 2026-10-15 and a Phase 1b urothelial carcinoma trial starting 2026-12-01 [catalyst].
What to weigh
- Negative net income of -$230.4M as of 2026-06-30 [sec].
- Negative shareholders' equity of -$1,046.6M as of 2026-06-30 [sec].
- Cash & equivalents of $75.7M as of 2026-06-30 may be limited relative to ongoing losses [sec].
- Competitive landscape for Anktiva in Long COVID includes at least two other programs [pipeline].
From the filings
Quoted directly from source documents.
Revenue growth driven by Anktiva sales
“ImmunityBio shares rise after reporting a 700% jump in 2025 revenue, driven by strong Anktiva sales growth and rising demand for its bladder cancer treatment.”
News · January 15, 2026
Enrollment in QUILT-2.005 exceeded 85%
“Enrollment of BCG naïve subjects (QUILT-2.005) receiving BCG alone versus BCG plus ANKTIVA exceeding expectations85% enrolled with anticipated completion in Q2 2026 with BLA filing to U.S.”
News · January 16, 2026
Catalyst timeline
- 2026-10-15 · Phase2_Start — Phase 2a, Randomized, Double-Blind, Placebo-Controlled Clinical Trial Evaluating the Safety and Efficacy of Nogapendekin Alfa Inbakicept (NAI) Plus Standard of Care (SOC) Compared to SOC Alone in Critically Ill Adults With Sepsis
- 2026-12-01 · Phase1_Start — Open-Label, Single-Arm, Phase 1b Clinical Trial of NAI Plus Pembrolizumab With Short Course of Enfortumab Vedotin in Treatment-Naïve Participants With Metastatic Urothelial Carcinoma
- 2034-01-12 · Patent_Expiry — Patent_Expiry: NDA021660
Risks & what to watch (3)›
Key risks
- Negative shareholders' equity — Shareholders' equity of -$1,046.6M as of 2026-06-30 indicates accumulated losses exceed assets [sec].
- Cash runway uncertainty — Cash & equivalents of $75.7M as of 2026-06-30 may be insufficient given net loss of -$230.4M [sec].
- Competition in Long COVID — Anktiva faces at least two competitors in Phase 2 for Long COVID [pipeline].
What to watch
- Completion of QUILT-2.005 enrollment and BLA filing for BCG-naïve NMIBC, projected Q2 2026 [news · published 2026-01-16].
- Phase 2a sepsis trial start on 2026-10-15 [catalyst].
- Phase 1b urothelial carcinoma trial start on 2026-12-01 [catalyst].
- Revenue growth trajectory and cash burn rate in upcoming quarterly reports [sec].
Sources: Catalysts · News · Pipeline · Generated October 11, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$230M
Lead: Phase 3
2 candidates
3 upcoming, next in ~1d
0 buys · 6 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
385
Total value held
$1.32B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 26,346,443 | $202.1M |
| state street corp | 17,708,103 | $135.8M |
| vanguard portfolio management llc | 16,322,844 | $125.2M |
| vanguard capital management llc | 15,127,714 | $116.0M |
| d. e. shaw & co., inc. | 12,571,597 | $96.4M |
| geode capital management, llc | 8,031,921 | $61.6M |
| two sigma investments, lp | 4,385,500 | $33.6M |
| morgan stanley | 4,018,869 | $30.8M |
| woodline partners lp | 3,447,346 | $26.4M |
| goldman sachs group inc | 3,237,078 | $24.8M |
Showing top 10 of 385 institutional holders of ImmunityBio, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 35.8%
- Days to cover
- 4.9
- Shares short
- 135,542,079
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IBRX short interestGovernance
Frequently asked questions
What is the AI investment thesis for ImmunityBio, Inc.?
ImmunityBio, Inc. (IBRX) is a biotechnology company focused on immunotherapies for cancer and other diseases, with its approved bladder cancer drug Anktiva (nogapendekin alfa inbakicept) driving recent revenue growth.
What is ImmunityBio, Inc.'s lead drug candidate?
ImmunityBio, Inc.'s most advanced tracked candidate is Anktiva (Phase 3) for Long COVID.
What is ImmunityBio, Inc.'s next catalyst?
ImmunityBio, Inc.'s next tracked catalyst is a Phase2_Start event — "Phase2_Start: Phase 2a, Randomized, Double-Blind, Placebo-Controlled Clinical Trial Evaluating the Safety and Efficacy of Nogapendekin Alfa Inbakicept (NAI) Plus Standard of Care (SOC) Compared to SOC Alone in Critically Ill Adults With Sepsis" — expected October 15, 2026.
Who is the CEO of ImmunityBio, Inc.?
Mr. Richard Gerald Adcock is the chief executive officer of ImmunityBio, Inc. (IBRX).
Where is ImmunityBio, Inc. headquartered?
ImmunityBio, Inc. (IBRX) is headquartered in San Diego, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.