ImmunityBio Inc. (NASDAQ:IBRX) stock is trading lower on Monday after the company’s third-quarter earnings missed expectations.
The company reported an adjusted loss of 9 cents, missing the consensus loss of 8 cents. Adjusted net loss widened to $97.9 million in the quarter, up from $72.4 million a year ago.
Sales were $48.84 million, up 52.3%, missing the consensus of $59.25 million.
Net Loss Widens Amid Derivative Adjustments And Higher R&D Costs
Net loss was $184.6 million, up from $67.3 million a year ago, mainly driven by changes in the fair value of a related-party convertible note and warrant and derivative liabilities due to an increase in stock price during the quarter, higher interest expense related to the revenue interest liability, and higher R&D and SG&A expenses.
The company had consolidated cash and cash equivalents and marketable securities of $334.3 million.
ANKTIVA Reaches Primary Endpoint In QUILT-2.005 Trial Ahead Of FDA Filing
On Monday, the company shared final results from the primary endpoint analysis in Cohort A of its registrational QUILT-2.005 study, demonstrating that ANKTIVA combined with Bacillus Calmette-Guérin (BCG) significantly outperformed BCG alone in treating bladder cancer.
The commercial-stage immunotherapy company confirmed that the chemotherapy-free regimen delivered statistically significant improvement in efficacy for patients with BCG-naïve, high-grade non-muscle invasive bladder cancer (NMIBC) presenting carcinoma in situ, with or without papillary tumors.
Patients receiving the combination therapy maintained their overall quality of life throughout treatment. In addition, the research team reported that the median duration of response had not yet been reached at the time of final analysis.
ImmunityBio affirmed plans to submit a supplemental Biologics License Application (sBLA) to the FDA before the end of 2026.
Israeli Health Ministry Authorizes ANKTIVA Under Accelerated Review
Israeli Ministry of Health on Monday approved ANKTIVA (nogapendekin alfa inbakicept) combined with BCG for BCG-unresponsive non-muscle invasive bladder cancer with carcinoma in situ with or without papillary tumors.
Approval granted four months after submission under an accelerated review pathway; registration license expected within the coming weeks.
ANKTIVA is now authorized in 35 countries; Rafa Laboratories to lead commercialization in Israel as exclusive partner.
IBRX Price Action: ImmunityBio shares were down 25.94% at $6.395 at the time of publication on Monday, according to Benzinga Pro data.
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