ImmunityBio Inc. (NASDAQ:IBRX) shares are up on Monday following the company’s announcement of significant revenue growth.
• ImmunityBio stock is challenging resistance. Why are IBRX shares at highs?
The stock has jumped around 55% over the last month, thanks to investor interest after preliminary earnings and several strategic partnerships.
The company’s lead drug, Anktiva, is approved in the U.S. and several international markets for BCG-unresponsive NMIBC with carcinoma in situ.
700% Sales Jump
ImmunityBio reported a remarkable year-over-year increase in revenue, driven by the sales of Anktiva, which has received regulatory approvals across 33 countries for treating non-muscle invasive bladder cancer.
ImmunityBio reported a fourth-quarter loss of six cents per share compared to the consensus of a loss of nine cents.
Sales jumped from $7.56 million to $38.29 million, beating the consensus of $37.02 million.
The company reported a 750% unit sales volume increase for Anktiva.
The company also highlighted its strategic partnerships and plans for further clinical trials, positioning Anktiva as a key component of its cancer treatment platform.
The announcement included details about the rapid expansion of Anktiva’s global footprint, which was achieved in under two years since its initial FDA approval in 2024.
This growth is complemented by ongoing enrollment in clinical trials for various cancers, showcasing ImmunityBio’s commitment to advancing its immunotherapy offerings.
In January, ImmunityBio said it plans to submit additional information to the U.S. Food and Drug Administration following a Type B end-of-phase meeting related to its supplemental biologics license application for Anktiva in papillary non-muscle invasive bladder cancer (NMIBC).
The broader market is experiencing mixed results, with the healthcare sector showing resilience, up 1.11%.
This contrasts with the overall market’s performance, suggesting that ImmunityBio’s gains may be driven by company-specific developments rather than broader market trends.
Technical Analysis
The stock is currently trading 5.6% above its 20-day simple moving average (SMA) and 8.4% above its 100-day SMA, indicating a strong short-term trend.
Over the past 12 months, shares have increased significantly and are currently positioned closer to their 52-week highs than lows.
The RSI is at 50.00, which is considered neutral territory, suggesting the stock is neither overbought nor oversold. Meanwhile, MACD is at 0.10, below its signal line at 0.15, indicating a slight bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that while the stock has shown strength, there may be some caution among traders.
- Key Resistance: $10
- Key Support: $8.50
IBRX Price Action: ImmunityBio shares were up 15.69% at $10.07 at the time of publication on Monday, according to Benzinga Pro data.
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