Why ImmunityBio, Inc. (IBRX) Skyrocketed Today
From Yahoo Finance: 2025-06-04 23:56:00
ImmunityBio, Inc. (IBRX) saw its stock soar by 8.1% on Wednesday, reaching $2.93 per share. This surge came after the FDA granted the company permission to expand access to its Anktiva treatment for patients with solid tumors, addressing a critical need in cancer care.
The FDA authorization allows ImmunityBio, Inc. (IBRX) to treat lymphopenia in adult patients with solid tumors, a key factor in cancer prognosis. Founder Patrick Soon-Shiong highlighted the importance of this approval in addressing a previously unmet need in cancer treatment, potentially improving patient outcomes.
Following the positive news, investment firm HC Wainwright gave ImmunityBio, Inc. (IBRX) a “buy” recommendation and set a price target of $8 per share. This endorsement reflects optimism in the company’s growth potential and the impact of its Anktiva treatment on patients with advanced metastatic pancreatic cancer.
In response to the FDA approval, ImmunityBio, Inc. (IBRX) received support from investors and analysts, with its stock price rising and positive recommendations from financial experts. This development underscores the company’s commitment to advancing innovative treatments for patients with challenging medical conditions.