Shares of ImmunityBio (IBRX) extended their rally on Tuesday, climbing more than 17% as heavy trading activity continued to fuel momentum. The stock has now surged nearly 200% over the past six sessions, putting it firmly in the spotlight as one of the market’s top short-squeeze plays.
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That momentum was driven by new regulatory news. ImmunityBio said the U.S. Food and Drug Administration (FDA) has asked for additional information on whether its drug ANKTIVA could be approved to treat a broader group of bladder cancer patients. Importantly, the agency did not request new clinical trials. Management said it plans to submit the requested data within 30 days.
The company also drew attention on Monday after it shared a podcast appearance by its founder and executive chairman Patrick Soon-Shiong on The Sean Spicer Show, where he discussed FDA oversight and cancer treatment approvals.
ANKTIVA Is Powering ImmunityBio’s Momentum
ANKTIVA is an IL‑15-based therapy designed to activate T cells and natural killer cells. It is quickly becoming a key growth driver for ImmunityBio, as demand for the bladder cancer therapy continues to rise. The company said unit sales jumped 750% in 2025 compared with 2024, reflecting wider use of the treatment.
That surge helped push product revenue sharply higher last year, with ImmunityBio reporting about $113 million in net product revenue for 2025, up from roughly $15 million a year earlier. The company is also making progress in its Phase 2b trial for first-line bladder cancer, with full enrollment expected in the first half of 2026.
While the stock remains volatile, the rapid growth in Anktiva sales is helping support ImmunityBio’s recent rally.
Is ImmunityBio a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on IBRX stock based on three Buys assigned in the past three months. Further, the average ImmunityBio price target of $8.00 per share implies 23.46% upside potential.
