ImmunityBio’s stock climbed roughly 7% in a single session, extending a three-week rally that has seen the share price triple year-to-date. Trading volume reached approximately 96 million shares, nearly five times its three-month average of 19 million, as short-sellers scrambled to cover positions. With roughly 35% of the public float sold short before the rally began, bearish investors now face an estimated $500 million paper loss. The company’s market capitalization stands at $6.4 billion and its latest quarterly gross margin was 80.4%. These dynamics underscore growing investor confidence in ImmunityBio’s pipeline and highlight the risks associated with heavily shorted, high-volatility stocks.

ImmunityBio announced that it has agreed to submit additional data to the U.S. Food and Drug Administration within 30 days following a Type B end-of-phase meeting regarding its supplemental biologics license application for Anktiva in papillary non-muscle invasive bladder cancer. The discussions focused on optimized dosing regimens and biomarker analyses to support broader label claims beyond the current indication. If approved, the expanded label could open a larger patient population and drive incremental revenue, building on Anktiva’s demonstrated efficacy and safety profile in prior clinical studies.