ImmunityBio Amends $505M Convertible Note, Launches iNHL Phase 2 Trial and Secures EU Approval for Anktiva
On February 2, ImmunityBio initiated a Phase 2 trial of a combination immunotherapy in indolent B-cell non-Hodgkin lymphoma and amended a $505 million convertible note for anytime conversion into common shares. EU grants conditional marketing authorization for Anktiva in bladder cancer—its 33rd country approval—lifting shares by over 40%.
1. Convertible Note Amendment
On January 26, ImmunityBio amended a $505 million convertible promissory note with Nant Capital LLC to allow the noteholder to convert any portion of the outstanding principal into fully paid common shares at any time prior to maturity, potentially diluting existing equity while improving financing flexibility.
2. Phase 2 Clinical Trial Initiation
On February 2, the company launched a Phase 2 clinical trial evaluating a novel combination immunotherapy for patients with indolent B-cell non-Hodgkin lymphoma, targeting improved response rates and durable remissions in a patient population with limited treatment options.
3. EU Conditional Marketing Authorization
On February 18, ImmunityBio received conditional marketing authorization from the European Union for Anktiva as a bladder cancer treatment, marking its 33rd country approval and laying the groundwork for expanded market access and potential revenue growth in Europe.
4. Stock Reaction and Outlook
Following the EU approval, shares rose over 40%, reflecting investor optimism about Anktiva’s commercial prospects and the company’s strengthened balance sheet; analysts may revise price targets and monitor trial progress and conversion activity under the amended note.