ImmunityBio reported preliminary 2025 net product revenue of $113 million for its flagship immunotherapy Anktiva, representing a 700% increase over the prior year. Fourth-quarter revenue reached $38.3 million, up 431% year-over-year and 20% sequentially, driven by a 54% quarter-over-quarter increase in unit volume. This surge in sales reflects accelerating adoption across oncology treatment centers and sets a new benchmark for commercial performance in the non-muscle-invasive bladder cancer market.

The company announced that enrollment in its non-muscle-invasive bladder cancer trial exceeded expectations, positioning ImmunityBio to file a biologics license application by year-end. In parallel, early data from a CAR-NK therapy trial in Non-Hodgkin lymphoma demonstrated 100% disease control in the first four evaluable patients, with responses sustained for up to 15 months. These clinical milestones underscore the potential of next-generation immunotherapies to expand the company’s pipeline beyond Anktiva.

In recent days, ImmunityBio secured marketing approval for Anktiva from the Saudi Food and Drug Authority and moved one step closer to European Commission authorization. Management is finalizing plans for a BLA submission in the United States and exploring accelerated pathways in additional territories. These approvals, when fully realized, could open up access to an estimated 50,000 new patients annually across key international markets.

Trading volume surged to 176 million shares, approximately 1,254% above the three-month average of 13 million, as investors reacted to the revenue news and trial updates. The company remains well-capitalized with roughly $800 million in net cash and a market capitalization near $3.9 billion. Despite an 85% decline since its 2015 IPO, ImmunityBio’s recent inflection points have attracted renewed analyst interest, with consensus estimates projecting more than 200% upside over the next 12 months.