ImmunityBio, Inc. (IBRX) saw its stock price soar by 5.12% during intraday trading on Monday, following an announcement regarding the adoption of its bladder cancer treatment, Anktiva®, by a prominent VA hospital.

The company revealed that Houston's Michael E. DeBakey VA Medical Center has become one of the first VA hospitals to administer Anktiva® to bladder cancer patients. This development marks a significant milestone for ImmunityBio, as it represents the expansion of Anktiva®'s availability within the Veterans Affairs healthcare system.

Investors appear to be reacting positively to this news, likely seeing it as a sign of growing acceptance and potential increased demand for ImmunityBio's flagship product. The administration of Anktiva® in VA hospitals could lead to wider adoption across the VA healthcare system, potentially boosting the company's revenue and market presence in the oncology field. As ImmunityBio continues to expand the reach of Anktiva®, the market will be watching closely for signs of further uptake and success in treating bladder cancer patients.