ImmunityBio (IBRX) AI Stock Analysis

• Market Cap: $2.66B
• Dividend Yield: N/A
• Average Volume (3M): 7.01M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.99
• Revenue Growth: 10238.41%
• EPS Growth: 47.67%
• Country: US
• Employees: 671
• Sector: Healthcare
• Sector Strength: 37
• Industry: Biotechnology
• EPS (TTM): -0.15
• Shares Outstanding: 882,620,400
• 10 Day Avg. Volume: 6,987,914
• 30 Day Avg. Volume: 7,013,180
• PEG Ratio: -0.73
• Price to Book (P/B): -3.97
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.43
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 43.92
• Enterprise Value/Gross Profit: 88.74
• Enterprise Value/Ebitda: -1.83
• 1Y Price Target: $6.33
• Price Target Upside: 121.33% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 52 Neutral
• Price Target: $3.00 ▲(4.90%Upside)

ImmunityBio's overall stock score is influenced primarily by its financial struggles, including high leverage and negative cash flows, posing significant risks. However, the recent corporate event provides a positive outlook on liquidity and potential growth from clinical advancements.

Positive Factors

Global Strategy

The U.K. approval marks a key international milestone for Anktiva, representing a significant step in ImmunityBio's global strategy and affirming the strength of Anktiva’s underlying data.

Market Penetration

The U.K. authorization not only creates an incremental revenue opportunity but also establishes a foothold for broader EU market penetration, positioning Anktiva as a differentiated immunotherapy platform beyond the U.S. system.

Sales Growth

The market-driven pricing environment and rapid payer engagement in the U.S. have fueled strong early adoption and sales growth for Anktiva.

Negative Factors

Development Challenges

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

Regulatory Challenges

ImmunityBio announced it received a surprising 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, including persistent losses, high leverage, negative cash flows, and negative equity. Revenue growth is present but overshadowed by substantial operating cash flow deficits and dependence on external financing.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.74M	622.00K	240.00K	934.00K	605.00K
Gross Profit	-2.81M	622.00K	-23.95M	934.00K	-8.54M
EBITDA	-241.76M	-436.18M	-335.51M	-315.38M	-187.93M
Net Income	-413.56M	-583.20M	-417.32M	-349.85M	-224.19M
Balance Sheet
Total Assets	382.93M	504.45M	362.36M	468.91M	221.38M
Cash, Cash Equivalents and Short-Term Investments	149.81M	266.46M	107.18M	317.12M	96.06M
Total Debt	504.17M	726.72M	723.77M	645.66M	275.55M
Total Liabilities	871.06M	1.09B	812.18M	712.82M	339.87M
Stockholders Equity	-488.13M	-586.99M	-447.33M	-242.17M	-119.81M
Cash Flow
Free Cash Flow	-398.12M	-397.34M	-436.90M	-307.98M	-173.39M
Operating Cash Flow	-391.24M	-366.76M	-337.51M	-274.42M	-171.72M
Investing Cash Flow	-12.25M	-30.47M	27.30M	-84.89M	-19.81M
Financing Cash Flow	281.63M	558.34M	233.61M	505.44M	150.68M

ImmunityBio Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.86
• 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 2.86 is above the 20-day moving average (MA) of 2.77, above the 50-day MA of 2.81, and below the 200-day MA of 3.26, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 52.22 is Neutral, neither overbought nor oversold. The STOCH value of 76.15 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
CPRX	76 Outperform	$2.56B	13.38	29.11%	―	29.97%	178.11%
IMCR	64 Neutral	$1.77B	―	-5.78%	―	25.50%	64.63%
BEAM	56 Neutral	$2.11B	―	-38.04%	―	-82.38%	-164.76%
ARQT	54 Neutral	$1.79B	―	-70.58%	―	100.03%	64.22%
Sector *	52 Neutral	$7.61B	0.11	-63.03%	2.07%	16.35%	0.29%
IBRX	52 Neutral	$2.66B	―	78.99%	―	10238.41%	47.67%
IMVT	45 Neutral	$3.13B	―	-62.46%	―	―	-43.10%

ImmunityBio Corporate Events

ImmunityBio Announces $80 Million Securities Purchase

On July 24, 2025, ImmunityBio, Inc. announced a securities purchase agreement to sell 29,629,632 shares of its common stock and warrants for an additional 29,629,632 shares, generating approximately $80 million in gross proceeds. The offering is expected to close around July 28, 2025, with Piper Sandler & Co. as the exclusive placement agent. In its Q2 2025 financial results, ImmunityBio reported a 60% increase in revenue to $26.4 million, driven by strong sales of ANKTIVA in BCG-unresponsive bladder cancer. The company also highlighted significant clinical progress, including the initiation of a randomized trial for lung cancer and regulatory discussions on lymphopenia and papillary NMIBC treatments.

The most recent analyst rating on (IBRX) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on ImmunityBio stock, see the IBRX Stock Forecast page.

ImmunityBio Approves 2025 Equity Incentive Plan

On June 18, 2025, ImmunityBio, Inc. held its Annual Meeting of Stockholders, where the 2025 Equity Incentive Plan was approved, replacing the 2015 Plan. This strategic move aims to better compete for and motivate key talent through equity-based awards, aligning the interests of employees and stockholders. Additionally, eight directors were re-elected, and Deloitte & Touche LLP’s appointment as the independent registered public accounting firm for 2025 was ratified.

The most recent analyst rating on (IBRX) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on ImmunityBio stock, see the IBRX Stock Forecast page.