Beamr video compression achieves up to 50% improvement for AVs
CULVER CITY, Calif. - ImmunityBio, Inc. (NASDAQ:IBRX) reported better-than-expected fourth quarter results, sending its shares up 2.5% in after-hours trading.
The immunotherapy company posted a Q4 adjusted loss of $0.09 per share, beating analyst estimates for a loss of $0.17 per share. Revenue surged to $7.2 million, up from zero a year ago and exceeding the consensus forecast of $6.16 million.
ImmunityBio’s revenue growth was driven by sales of its ANKTIVA therapy following FDA approval in April 2024. The company reported net product revenue of $7.2 million for Q4, representing a 21% increase from $6.0 million in Q3 2024.
"The first quarter of 2025 has been an inflection point for the Company with multiple milestones achieved," said Dr. Patrick Soon-Shiong, Founder and Executive Chairman of ImmunityBio. He highlighted the approval of ANKTIVA, its growing adoption by urologists, and expanded access to recombinant BCG to address shortages.
For the full year 2024, ImmunityBio’s net loss narrowed to $413.6 million from $583.2 million in 2023. The company ended the year with $149.8 million in cash and marketable securities.
ImmunityBio noted that ANKTIVA sales momentum has continued to trend upward in early 2025, with February unit sales volume growing 97% compared to December 2024. The company also received key regulatory designations, including RMAT status from the FDA for ANKTIVA plus PD-L1 t-haNK in certain cancer indications.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.