ImmunityBio, Inc. (IBRX) stock is soaring 5.12% in intraday trading on Monday, following an announcement that Houston's Michael E. DeBakey VA Medical Center has become one of the first VA hospitals to administer Anktiva® to bladder cancer patients.

The company revealed early Monday that the Houston VA facility has started using Anktiva®, ImmunityBio's innovative treatment for bladder cancer. This marks a significant milestone for the company, as it represents the beginning of Anktiva®'s integration into the extensive VA healthcare system. The VA serves millions of veterans across the United States, potentially opening up a substantial market for ImmunityBio's flagship product.

Investors are reacting positively to this news, seeing it as a strong indicator of Anktiva®'s growing acceptance and potential for widespread adoption. As one of the first VA hospitals to administer the treatment, the Michael E. DeBakey VA Medical Center could pave the way for other VA facilities to follow suit. This development could significantly boost ImmunityBio's revenue streams and market presence in the oncology sector, explaining the enthusiastic market response and the subsequent surge in the company's stock price.