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ImmunityBio
ImmunityBio (IBRX) investor relations material
ImmunityBio Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary3 Mar, 2026
Executive summary
Achieved a transformational year with $113 million in net product revenue for Anktiva in 2025, a 700% year-over-year increase and 750% rise in unit sales volume, driven by strong clinical adoption and international expansion.
Anktiva is now authorized in 33 countries, including the U.S., U.K., Saudi Arabia, and the EU, with the first global approval for lung cancer in Saudi Arabia.
The company is executing a multi-platform immunotherapy strategy, advancing CAR-NK cell and DNA vaccine platforms, and positioning Anktiva as the backbone of the Cancer BioShield platform with over 30 active and planned clinical trials across 10 tumor types.
Established commercial partnerships in the EU and MENA regions, deploying over 100 sales professionals and launching subsidiaries in Dublin and Saudi Arabia.
Significant progress in clinical trials and regulatory milestones, including approvals for bladder and lung cancer indications.
Financial highlights
Net product revenue reached $113 million in 2025, up from $14.1 million in 2024, with a 750% increase in unit sales volume.
Q4 2025 revenue grew 20% sequentially from Q3 and reached $38.3 million, a 431% increase year-over-year.
Full year R&D expenses were $218.6 million, up from $190.2 million, including a $14 million one-time fixed asset write-off.
SG&A expenses decreased to $150 million from $168.8 million, due to internal team expansion and reduced consulting.
Net loss narrowed to $351.4 million from $413.6 million in 2024.
Year-end cash, equivalents, and marketable securities totaled $242.8 million.
Outlook and guidance
No forward financial guidance provided.
Focused on expanding Anktiva's label to BCG-naïve bladder cancer and international lung cancer indications, with BLA submission for BCG-naïve bladder cancer targeted for Q4 2026.
Planning accelerated approval submissions for lung cancer and multiple tumor types in 2026.
Preparing for commercial launches in Europe and Saudi Arabia, with Germany and Saudi as initial focus markets.
Ongoing development of AI-driven manufacturing and operational platforms to support global expansion.
Update on ANKTIVA NSCLC US FDA pathway discussions
Progress on BCG-naïve bladder cancer BLA filing
Current cash runway based on operating burn rate
Plausible mechanism impact on lung approval
European launch timeline for the big five
Scalability of AI-driven robotic manufacturing
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Next ImmunityBio earnings date
Q1 20268 May, 2026
ImmunityBio
Next ImmunityBio earnings date
Q1 20268 May, 2026
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Frequently asked questions
ImmunityBio, Inc. is a biotechnology company focused on developing innovative immunotherapies and cell therapies to treat cancer and infectious diseases. The company’s pipeline leverages platforms such as T-cell and natural killer (NK) cell-based therapies, along with vaccine technologies, to enhance the immune system’s ability to target and eliminate disease. The company is headquartered in Culver City, California, and its shares are listed on the NASDAQ.
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