ImmunityBio (IBRX) AI Stock Analysis

• Market Cap: $2.32B
• Dividend Yield: N/A
• Average Volume (3M): 6.55M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.59
• Revenue Growth: 2270.58%
• EPS Growth: 46.82%
• Country: US
• Employees: 680
• Sector: Healthcare
• Sector Strength: 66
• Industry: Biotechnology
• EPS (TTM): -0.09
• Shares Outstanding: 882,466,900
• 10 Day Avg. Volume: 8,078,995
• 30 Day Avg. Volume: 6,549,452
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 156.86
• Price to Cash Flow (P/CF): -6.80
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $6.08
• Price Target Upside: 142.23% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

ImmunityBio's overall stock score reflects significant financial challenges, including persistent losses and high leverage. While the recent capital raise provides temporary relief, the company's negative valuation metrics and bearish technical indicators point to continued risks. The stock's appeal is limited due to these ongoing issues, although the capital infusion offers some short-term support.

Positive Factors

Regulatory Progress

The company submitted a supplemental Biologics License Application to expand ANKTIVA’s label, reflecting regulatory progress.

Sales Momentum

The availability of rBCG removes a key bottleneck to ANKTIVA use and provides positive momentum for ANKTIVA sales.

Strategic Partnerships

The exclusive global arrangement with the Serum Institute of India for the supply of BCG provides a key strategic advantage to IBRX given the current BCG shortage.

Negative Factors

Clinical Risk

Risks to achieving price target include clinical risk where ImmunityBio’s assets may fail to demonstrate meaningful levels of efficacy in clinical trials.

Manufacturing Challenges

The manufacturing facility's buildout is still in transition, indicating that realizing its full potential will depend on execution and timing across ongoing milestones.

Product Variability

BCG is an old and genetically unstable therapy susceptible to drift, leading to costly batch-to-batch variability.

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 makes money primarily through the development and commercialization of immunotherapy products, which involve generating revenue from product sales, licensing agreements, and collaborations with other pharmaceutical companies. The company engages in partnerships to co-develop and co-market its therapeutic candidates, which can provide upfront payments, milestone payments, and royalties. Additionally, ImmunityBio may receive funding and grants from governmental or non-governmental organizations to support its research and development efforts, contributing to its revenue streams.

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
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
14.74M	622.00K	-23.95M	934.00K	-8.54M
	EBIT
-344.18M	-362.25M	-351.30M	-330.28M	-220.88M
	EBITDA
-264.43M	-436.18M	-335.51M	-315.38M	-187.93M
	Net Income Common Stockholders
-413.56M	-583.20M	-417.32M	-349.85M	-224.19M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
149.81M	266.46M	107.18M	317.12M	96.06M
	Total Assets
382.93M	504.45M	362.36M	468.91M	221.38M
	Total Debt
42.29M	726.72M	723.77M	645.66M	275.55M
	Net Debt
-101.14M	461.27M	619.13M	464.56M	240.63M
	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: Negative
• Last Price: 2.51
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBRX, the sentiment is Negative. The current price of 2.51 is below the 20-day moving average (MA) of 2.78, below the 50-day MA of 2.97, and below the 200-day MA of 3.85, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 42.83 is Neutral, neither overbought nor oversold. The STOCH value of 19.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IBRX.

ImmunityBio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRSP	51 Neutral	$3.26B	―	-19.20%	―	-89.95%	-123.71%
AMRX	51 Neutral	$2.31B	―	106.97%	―	16.73%	-22.44%
Sector *	51 Neutral	$5.19B	3.13	-40.94%	2.95%	17.94%	2.00%
IMVT	45 Neutral	$2.57B	―	-74.17%	―	―	-43.10%
EWTX	43 Neutral	$1.40B	―	-34.40%	―	―	7.97%
MLTX	41 Neutral	$2.45B	―	-25.24%	―	―	-147.80%
IBRX	40 Underperform	$2.32B	―	78.99%	―	2270.58%	46.82%

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.

Spark’s Take on IBRX Stock

According to Spark, TipRanks’ AI Analyst, IBRX is a Neutral.

ImmunityBio’s financial performance indicates significant challenges, with persistent losses and high leverage posing risks to financial stability. Technical analysis shows mixed signals, with some upward momentum but overall bearish indicators. Valuation metrics are unattractive due to negative earnings. The absence of a dividend yield further diminishes its appeal.

To see Spark’s full report on IBRX stock, click here.

ImmunityBio Approves 2024 Executive Bonuses and New Incentives

On February 7, 2025, ImmunityBio’s Compensation Committee approved 2024 executive bonuses for its key officers, reflecting an 80% payout of the target amount, with payments scheduled for March 14, 2025. Additionally, the company announced its 2025 Long-Term Incentive Program, granting stock options and restricted stock units to executives, with awards set to vest over three years, and set new base salary rates effective March 10, 2025.