ImmunityBio surges 7% on 700% revenue growth, Saudi lung cancer approval
Biotech reports $113M full-year ANKTIVA sales and secures landmark regulatory win for lung cancer indication
ImmunityBio shares climbed in extended trading Tuesday after the biotechnology company reported preliminary fourth-quarter results that far exceeded analyst expectations, driven by explosive growth in its lead cancer therapy ANKTIVA.
The San Diego-based company reported preliminary net product revenue of approximately $38.3 million for the quarter ending December 31, 2025, representing a 20% sequential increase from the third quarter and a 431% surge compared with the same period in 2024. ANKTIVA, an interleukin-15 superagonist, accounted for 99.6% of total fourth-quarter revenue.
For the full year 2025, ImmunityBio generated approximately $113 million in net product revenue, a remarkable 700% increase year-over-year. The performance was underpinned by a 750% increase in unit volume growth as the drug accelerated its commercial launch following regulatory approvals.
"The exceptional fourth quarter and full-year results demonstrate the strong execution of our commercial strategy and rapidly accelerating adoption of ANKTIVA," said Patrick Soon-Shiong, ImmunityBio's executive chairman and global chief scientific officer. "We believe we are still in the early innings of ANKTIVA's commercial potential."
The regulatory landscape expanded significantly in January 2026 when the Saudi Food and Drug Authority granted accelerated approval to ANKTIVA in combination with immune checkpoint inhibitors for adult patients with metastatic non-small cell lung cancer whose disease has progressed after standard-of-care therapy. This marks the first global approval for an IL-15 superagonist used with checkpoint therapy and the first authorization for subcutaneous administration of the treatment.
ImmunityBio received conditional marketing authorization from the European Commission in February 2026 for ANKTIVA in the treatment of BCG-unresponsive non-muscle invasive bladder cancer, expanding access to 33 countries across the European Union, Iceland, Norway, and Liechtenstein. This makes ANKTIVA the first authorized immunotherapy in Europe for this indication.
To support its European expansion, ImmunityBio has partnered with Accord Healthcare to commercialize ANKTIVA across 30 European countries, leveraging a sales force of over 100 professionals. The company has also opened an Irish subsidiary in Dublin to support its European distribution strategy. In the Middle East and North Africa region, ImmunityBio partnered with Biopharma and Cigalah Healthcare for the Saudi Arabia launch and established a wholly-owned subsidiary in Saudi Arabia.
ImmunityBio ended the fourth quarter with an estimated $242.8 million in cash, cash equivalents, and marketable securities, providing substantial runway to fund operations and ongoing clinical development programs.
The company's pipeline continues to advance, with enrollment in the Phase 2b QUILT-2.005 trial evaluating ANKTIVA plus intravesical BCG in first-line, BCG-naïve non-muscle invasive bladder cancer progressing ahead of internal expectations. Full enrollment is anticipated in the first half of 2026.
ImmunityBio shares have gained significant momentum in recent months, climbing from a 52-week low of $1.83 to their current level around $8.70. The stock has a market capitalization of approximately $8.6 billion, and analysts have set a consensus price target of $11.80, with five analysts rating the stock a buy or strong buy and none recommending holding or selling.
The company is scheduled to release its complete fourth-quarter and full-year 2025 financial results before market open on Monday, March 2, 2026. Analysts currently project a loss per share of approximately $0.08 to $0.09 for the fourth quarter.