ImmunityBio (IBRX) AI Stock Analysis

• Market Cap: $2.82B
• Dividend Yield: N/A
• Average Volume (3M): 11.48M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.01
• Revenue Growth: 10238.41%
• EPS Growth: 47.67%
• Country: US
• Employees: 671
• Sector: Healthcare
• Sector Strength: 58
• Industry: Biotechnology
• EPS (TTM): -0.15
• Shares Outstanding: 882,620,400
• 10 Day Avg. Volume: 12,718,366
• 30 Day Avg. Volume: 11,476,923
• PEG Ratio: -0.41
• Price to Book (P/B): -4.35
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.43
• Enterprise Value/Market Cap: 1.07
• Enterprise Value/Revenue: 55.21
• Enterprise Value/Gross Profit: 111.55
• Enterprise Value/Ebitda: -2.30
• 1Y Price Target: $6.33
• Price Target Upside: 106.19% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 49 Neutral
• Price Target: $3.50 ▲(14.01%Upside)

ImmunityBio's overall stock score reflects significant financial challenges, including negative equity and cash flow issues, which are major concerns. However, recent fundraising efforts through a direct offering provide a vital capital infusion, which is a positive corporate event. Technical analysis shows some short-term bullishness, though valuation remains weak due to ongoing unprofitability.

Positive Factors

Efficacy and Differentiation

Anktiva demonstrates compelling long-term efficacy with its ease of administration providing a key point of differentiation.

Regulatory Milestones

Regulatory milestones like RMAT designation and Expanded Access authorization recognize the urgent need to address immune collapse in hard-to-treat cancers, accelerating development and access to ImmunityBio's novel immunorestorative approach.

Sales Momentum

Anktiva sales momentum is expected to continue as recombinant BCG becomes available across urology practices.

Negative Factors

Challenges for Small Biotech

For small or cash-limited biotech companies, addressing an RTF can be especially challenging if major development work is needed.

Regulatory Challenges

ImmunityBio recently disclosed an unexpected Refusal to File (RTF) letter from the FDA regarding its supplemental BLA for ANKTIVA plus BCG in BCG-unresponsive NMIBC patients with papillary-only disease.

Regulatory Uncertainty

The RTF letter introduces regulatory uncertainty, despite the identical treatment protocol between CIS and papillary cohorts.

ImmunityBio Business Overview & Revenue Model

Company Description

ImmunityBio, Inc., a clinical-stage biotechnology company, develops therapies and vaccines to treat cancers and infectious diseases. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies, natural killer cells, and adaptive (T cell) immune systems. The company also develops therapeutic agents, which are in Phase II or III clinical trial for the treatment of liquid and solid tumors, including bladder, pancreatic, and lung cancers, as well as pathogens as SARS-CoV-2 and HIV. It has collaboration agreements with National Cancer Institute, National Institute of Deafness and Communication Disorders, and Amyris, Inc.; and license agreements with CytRx Corporation, EnGeneIC Pty Limited, GlobeImmune, Inc., and Infectious Disease Research Institute, Sanford Health, Shenzhen Beike Biotechnology Co. Ltd., Sorrento Therapeutics, Inc., and Viracta Therapeutics, Inc. The company was founded in 2014 and is based in San Diego, California.

How the Company Makes Money

ImmunityBio generates revenue primarily through partnerships, collaborations, and licensing agreements with other biotechnology and pharmaceutical companies. These partnerships often involve upfront payments, milestone payments, and royalties on sales of products developed using ImmunityBio's proprietary technologies. Additionally, the company may secure funding and grants from governmental and non-governmental organizations to support its research and development activities. As a clinical-stage company, ImmunityBio does not yet derive significant revenue from product sales, as its therapies are still in various stages of clinical trials and regulatory approval processes.

ImmunityBio Financial Statement Overview

Summary

ImmunityBio is facing significant financial challenges, with persistent losses, high leverage, and negative cash flows. While there is some revenue growth, the company remains heavily reliant on external financing to sustain operations. The negative equity and cash flow deficits highlight the need for improved operational efficiency and financial management to ensure long-term viability.

Income Statement

ImmunityBio has shown some revenue growth in the latest year, with revenue increasing from $622,000 to $14.7 million. However, the company has been consistently unprofitable, with negative net profit margins and EBIT margins over the years. The gross profit margin remains positive, but the high levels of operating losses and negative EBITDA indicate significant profitability challenges.

Balance Sheet

The company's balance sheet shows high leverage, with total liabilities exceeding total assets, resulting in negative stockholders' equity. This poses a risk for financial stability. The debt-to-equity ratio cannot be calculated due to negative equity, and the negative return on equity further highlights profitability issues.

Cash Flow

ImmunityBio's cash flow statement reflects substantial operating cash flow deficits, which have worsened over the years. The free cash flow remains negative, indicating ongoing challenges in generating cash from operations. Although the company has raised financing in previous years, the consistent negative free cash flow poses a risk to sustainability.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
47.00K	14.74M	622.00K	240.00K	934.00K	605.00K
	Gross Profit
47.00K	-2.81M	622.00K	-23.95M	934.00K	-8.54M
	EBIT
-96.30M	-344.18M	-362.25M	-351.30M	-330.28M	-220.88M
	EBITDA
-86.74M	-241.76M	-436.18M	-335.51M	-315.38M	-187.93M
	Net Income Common Stockholders
-96.23M	-413.56M	-583.20M	-417.32M	-349.85M	-224.19M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
98.55M	149.81M	266.46M	107.18M	317.12M	96.06M
	Total Assets
208.26M	382.93M	504.45M	362.36M	468.91M	221.38M
	Total Debt
15.78M	504.17M	726.72M	723.77M	645.66M	275.55M
	Net Debt
-6.50M	360.74M	461.27M	619.13M	464.56M	240.63M
	Total Liabilities
40.45M	871.06M	1.09B	812.18M	712.82M	339.87M
	Stockholders Equity
167.81M	-488.13M	-586.99M	-447.33M	-242.17M	-119.81M
Cash Flow		Free Cash Flow
-76.48M	-398.12M	-397.34M	-436.90M	-307.98M	-173.39M
	Operating Cash Flow
-63.38M	-391.24M	-366.76M	-337.51M	-274.42M	-171.72M
	Investing Cash Flow
57.10M	-12.25M	-30.47M	27.30M	-84.89M	-19.81M
	Financing Cash Flow
-771.00K	281.63M	558.34M	233.61M	505.44M	150.68M

ImmunityBio Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBRX, the sentiment is Positive. The current price of 3.07 is above the 20-day moving average (MA) of 2.86, above the 50-day MA of 2.65, and below the 200-day MA of 3.37, indicating a neutral trend. The MACD of 0.17 indicates Negative momentum. The RSI at 57.30 is Neutral, neither overbought nor oversold. The STOCH value of 49.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IBRX.

ImmunityBio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRSP	60 Neutral	$3.59B	―	-19.71%	―	-86.13%	-67.29%
AMRX	56 Neutral	$2.49B	―	106.97%	―	13.42%	92.50%
Sector *	54 Neutral	$5.41B	3.27	-45.10%	3.29%	16.81%	0.02%
IBRX	49 Neutral	$2.82B	―	78.99%	―	10238.41%	47.67%
IMVT	45 Neutral	$2.72B	―	-62.46%	―	―	-43.10%
MLTX	41 Neutral	$2.83B	―	-30.57%	―	―	-147.80%
EWTX	40 Underperform	$1.62B	―	-30.29%	―	―	7.97%

ImmunityBio Corporate Events

ImmunityBio Secures $75 Million in Direct Offering

On April 7, 2025, ImmunityBio, Inc. entered into a securities purchase agreement with an institutional investor for a registered direct offering, involving the sale of 29,024,768 shares of common stock and warrants for additional shares. This transaction is expected to generate approximately $75 million in gross proceeds, supporting the company’s ongoing business operations. The offering is anticipated to close around April 9, 2025, subject to customary conditions, and could potentially yield an additional $90 million if the warrants are fully exercised. This financing move is part of ImmunityBio’s strategy to bolster its working capital and further its development of cancer vaccines and immunotherapies.