ImmunityBio AI Stock Analysis
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ImmunityBio (IBRX) AI Stock Analysis
ImmunityBio
(NASDAQ:IBRX)
The score is held down primarily by weak financial quality—deep losses, negative equity, and high leverage despite rapidly rising revenue and very strong gross margins. Technicals are neutral with mild near-term softness, offering limited momentum support. Positive FDA and clinical-trial news improves the commercialization runway, but valuation remains constrained by negative earnings and lack of dividend support in the provided data.
ImmunityBio Key Performance Indicators (KPIs)
Revenue By GeographyBreaks down revenue across different regions, highlighting where ImmunityBio is generating the most income and identifying areas with potential for growth or risk due to regional market dynamics and healthcare policies.
ImmunityBio's US revenue has surged dramatically, reflecting a robust expansion strategy and possibly successful product launches or partnerships. In contrast, European revenue experienced a significant drop to zero in early 2025, before partially recovering. This disparity suggests potential operational or regulatory challenges in Europe, while the US market remains a strong growth driver. Investors should monitor future developments in Europe for signs of stabilization or strategic shifts.
The FlyImmunityBio (IBRX) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $6.46B
- Dividend Yield
- ―
- Average Volume (3M)
- 12.50M
- Price to Earnings (P/E)
- -5.7
- Beta (1Y)
- 2.01
- Revenue Growth
- 121.15%
- EPS Growth
- -162.88%
- Country
- US
- Employees
- 688
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Biotechnology
ImmunityBio Business Overview & Revenue Model
Company Description
ImmunityBio, Inc. is a clinical-stage biotechnology firm, founded in 2014 and based in San Diego, California. The company is focused on developing groundbreaking therapies and vaccines designed to treat a wide array of cancers and infectious diseases...
How the Company Makes Money
ImmunityBio’s business model is primarily based on generating revenue from the commercialization of its approved products (where applicable), as well as potential revenue from collaborations (e.g., licensing, co-development, or commercialization part...
ImmunityBio Earnings Call Summary
The call highlighted strong commercial traction for ANKTIVA with very large year-over-year revenue and unit growth, multiple regulatory milestones (including EU conditional authorization and Saudi first-in-world lung cancer approval), robust enrollment and promising clinical signals across randomized and single-arm QUILT programs, and strategic commercial partnerships and manufacturing initiatives. Offsetting these positives are substantial operating losses and cash burn, significant balance sheet liabilities, continued high R&D investment (including a one-time $14M equipment write-off), and some regulatory delays and market-access complexity in certain cohorts and geographies. Overall, the company is demonstrating clear commercial momentum and clinical progress but remains capital-intensive and faces execution and regulatory risks as it scales internationally.
Q4-2025 Updates
Positive Updates
Negative Updates
Company Guidance
The company did not provide forward financial guidance on the call but gave extensive 2025 metrics and near‑term milestones: ANKTIVA net product revenue was $113.0M in FY2025 (up 700% vs $14.1M in FY2024) with unit volumes +750% YoY and Q4 revenue $38.3M versus Q3 $31.1M (+20% sequential); ANKTIVA is authorized in 33 countries across four major jurisdictions (US, U.K., EU, KSA) with an EU conditional marketing authorization in Feb‑2026 and two Saudi approvals (bladder and conditional NSCLC combo) in Jan‑2026; cash, cash equivalents and marketable securities were $242.8M at 12/31/2025 and net cash used in operations was $304.9M for the year; FY R&D expense was $218.6M (vs $190.2M in 2024), SG&A was $150M (down from $168.8M), and FY net loss attributable to common stockholders was $351.4M (improved from $413.6M); key liabilities include $505M related‑party convertible notes and ~ $325M revenue‑interest liability. Clinical/regulatory metrics highlighted: QUILT‑2.005 fully enrolled 366 patients (interim 6‑month CR 85% vs 57%; 9‑month 84% vs 52%), QUILT‑3.032 Cohort A CR 71% (n≈100) with duration >53 months and Cohort B 12‑month DFS 58% / 24‑month DFS 52% with 36‑month disease‑specific survival 96% and ~82% bladder preservation; recombinant BCG expanded access spans ~100 sites and ~580 patients with several thousand doses delivered, BCG‑naive enrollment reported at 100% with a targeted BLA in Q4‑2026, QUILT‑3.055 treated ~147 patients, and the company introduced its askIB AI platform and NANT Leonardo automated cell‑manufacturing plans.
ImmunityBio Financial Statement Overview
Summary
Revenue has scaled rapidly ($14.7M in 2024 to $113.3M in 2025 and $182.6M TTM) with exceptionally high gross margin (~97% TTM), but fundamentals remain weak: very large operating losses (TTM net margin ~-608%), negative equity worsening to about -$1.15B TTM, and leverage that exceeds the asset base (TTM debt ~$869.5M vs. assets ~$609.4M). Cash burn improved (operating cash flow -$70.4M TTM vs. -$304.9M in 2025) but remains negative, implying ongoing funding/dilution risk. KPI note: growth is heavily US-led, adding concentration risk if domestic adoption slows.
Income Statement
22NegativeBalance Sheet
18Very NegativeCash Flow
28Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 182.57M | 113.29M | 14.74M | 622.00K | 240.00K | 934.00K |
| Gross Profit | 176.50M | 112.53M | 14.74M | 622.00K | 240.00K | 934.00K |
| EBITDA | -1.01B | -223.56M | -264.43M | -478.66M | -351.88M | -320.75M |
| Net Income | -1.11B | -351.40M | -413.56M | -583.20M | -416.57M | -346.79M |
Balance Sheet | ||||||
| Total Assets | 609.39M | 501.90M | 382.93M | 504.45M | 362.36M | 468.91M |
| Cash, Cash Equivalents and Short-Term Investments | 334.33M | 242.82M | 149.81M | 266.46M | 107.18M | 317.12M |
| Total Debt | 869.52M | 878.12M | 504.17M | 726.72M | 723.77M | 645.66M |
| Total Liabilities | 1.75B | 1.00B | 871.06M | 1.09B | 812.18M | 712.82M |
| Stockholders Equity | -1.15B | -499.57M | -489.10M | -586.99M | -447.33M | -242.17M |
Cash Flow | ||||||
| Free Cash Flow | -297.09M | -308.78M | -398.12M | -397.34M | -415.67M | -307.98M |
| Operating Cash Flow | -287.56M | -304.94M | -391.24M | -366.76M | -337.51M | -274.42M |
| Investing Cash Flow | -103.59M | -149.80M | -12.25M | -30.47M | 27.30M | -84.89M |
| Financing Cash Flow | 376.30M | 400.24M | 281.63M | 558.34M | 233.61M | 505.44M |
ImmunityBio Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBRX, the sentiment is Negative. The current price of 6.07 is below the 20-day moving average (MA) of 8.11, below the 50-day MA of 8.63, and below the 200-day MA of 7.97, indicating a bearish trend. The MACD of -0.57 indicates Positive momentum. The RSI at 32.86 is Neutral, neither overbought nor oversold. The STOCH value of 9.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IBRX.
ImmunityBio Risk Analysis
ImmunityBio disclosed 95 risk factors in its most recent earnings report. ImmunityBio reported the most risks in the "Tech & Innovation" category.
Latest Risks Added
0 New RisksImmunityBio Peers Comparison
Overall Rating
VIR72Outperform
PCVX54Neutral
IMCR52Neutral- IBRX49Neutral
RCUS45Neutral
IMNM39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| VIR | 72Outperform | $2.25B | -9.70 | -21.38% | ― | 1695.96% | 65.40% |
| PCVX | 54Neutral | $10.86B | -8.07 | -42.04% | ― | ― | -65.42% |
| IMCR | 52Neutral | $1.63B | -48.03 | -7.96% | ― | 13.01% | ― |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| IBRX | 49Neutral | $7.10B | -5.65 | 124.59% | ― | 121.15% | -162.88% |
| RCUS | 45Neutral | $2.71B | -4.92 | -90.04% | ― | -58.33% | -6.14% |
| IMNM | 39Underperform | $2.25B | -7.05 | -51.33% | ― | -100.00% | 11.09% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| IBRX | Immunitybio Inc | 6.07 | 4.04 | 199.01% | |
| RCUS | Arcus Biosciences | 17.77 | -2.22 | -11.11% | |
| VIR | Vir Biotechnology, Inc. | 12.12 | 6.63 | 120.77% | |
| PCVX | Vaxcyte, Inc. | 64.69 | 16.35 | 33.82% | |
| IMNM | Immunome, Inc. | 18.70 | 0.57 | 3.14% | |
| IMCR | Immunocore Holdings Plc | 30.48 | -6.09 | -16.67% |
ImmunityBio Corporate Events
ImmunityBio Reports Positive ANKTIVA Bladder Cancer Trial Results
PositiveOn November 9, 2026, ImmunityBio reported that ANKTIVA plus BCG achieved the primary efficacy endpoint in Cohort A of the randomized QUILT-2.005 trial, which included 370 patients with BCG-naïve, high-grade non-muscle invasive bladder cancer. The che...
ImmunityBio gains FDA expansion for ANKTIVA bladder therapy
PositiveOn October 14, 2026, ImmunityBio announced that the U.S. Food and Drug Administration expanded the approved indication for its immunotherapy ANKTIVA, used in combination with Bacillus Calmette-Guérin, to cover all adult patients with BCG-unresponsive...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 10, 2026