ImmunityBio (IBRX) Soars to New High on Anktiva Future Expansion
We recently published 10 Market Winners With Stunning Gains. Immunitybio Inc. (NASDAQ:IBRX) was one of the best performers on Wednesday.
ImmunityBio soared to a new 52-week high on Wednesday, as investors gobbled up shares over an aggressive international expansion for its therapy, Anktiva.
At intra-day trading, the stock climbed to its highest price of $8.68 before trimming gains to end the day just up by 41.86 percent at $8.54 apiece.
In a statement, Immunitybio Inc. (NASDAQ:IBRX) said that the European Commission has issued its conditional marketing authorization for the sale of Anktiva + BCG for patients with BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) following a positive opinion from the European Medicines Agency on December 11.
The CMA is an early authorization that aims to accelerate the approval of life-saving medicines and vaccines in Europe.
Once fully approved, Immunitybio Inc. (NASDAQ:IBRX) would then be allowed to sell Anktiva in 33 countries in Europe.
“With Anktiva now authorized in 33 countries from the United States and the United Kingdom to the European Union and Saudi Arabia, we have built the broadest global access platform for an immunotherapy in this indication. With more than 80 percent of treated patients preserving their bladder through three years of follow-up, Anktiva represents a meaningful advance designed to strengthen the immune response and extend the durability of BCG,” said Immunitybio Inc. (NASDAQ:IBRX) Executive Chairman Patrick Soon-Shiong.
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While we acknowledge the potential of IBRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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