ImmunityBio Q2 net product revenue rises 92%

Overview

• U.S. biotechnology firm's Q2 net product revenue rose 92% yr/yr, marking eighth straight quarterly gain

• Adjusted net loss for Q2 narrowed to $81.0 mln from $89.9 mln a year earlier

• Revenue growth driven by continued adoption of ANKTIVA and expanded market access

Outlook

• Company expects multiple regulatory, clinical, and data milestones over the next 12 months

• ImmunityBio plans a 2026 sBLA submission for QUILT-2.005 trial in BCG-naïve NMIBC

• Company says current cash and marketable securities position supports commercial and clinical priorities

Result Drivers

• ANKTIVA ADOPTION - Co said Q2 revenue growth was driven by continued adoption of ANKTIVA among U.S. urologists and strong market access

• COMMERCIAL ACTIVITIES - Increased net trade sales of ANKTIVA attributed to ongoing commercial activities

Company press release: ID:nBw62MFMda

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology medical research peer group is "buy."

• Wall Street's median 12-month price target for Immunitybio Inc is $12.00, about 67.8% above its August 3 closing price of $7.15

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)