ImmunityBio, Inc. has recently released its 10-K report, showcasing its focus on developing therapies and vaccines to bolster the natural immune system and combat cancers and infectious diseases. The company's platforms include antibody-cytokine fusion proteins, DNA, RNA, and recombinant protein vaccines, and cell therapies, with a lead biologic product candidate called Anktiva, an FDA-approved immunotherapy for the treatment of adult patients with BCG unresponsive non-muscle invasive bladder cancer. ImmunityBio is also involved in various collaboration and license agreements with organizations such as the National Cancer Institute and 3M Innovative Properties Company.
In its ITEM 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, ImmunityBio reported that it began commercial distribution of its approved product, Anktiva, in May 2024. The company also highlighted significant developments, including the growth in ANKTIVA unit sales volume, the submission of Marketing Authorization Applications (MAAs) for Anktiva in the UK and EU, and collaboration and supply agreements with Serum Institute and BeiGene, Ltd. The company also received RMAT designation for ANKTIVA and CAR-NK (PD-L1 t-haNK) in combination with standard-of-care chemotherapy/radiotherapy for the reversal of lymphopenia and treatment of pancreatic cancer.
Regarding its pipeline, ImmunityBio's platforms have generated nine first-in-human therapeutic agents, including one approved by the FDA, with a focus on clinical trials in liquid and solid tumors. The company aims to attack cancer and infectious pathogens by activating both the innate and adaptive immune systems in an orchestrated manner.
In terms of financial results, ImmunityBio reported that it had an accumulated deficit of $3.4 billion as of December 31, 2024, with net losses in each year since its inception. The company had incurred net losses of $413.6 million, $583.2 million, and $416.6 million in 2024, 2023, and 2022, respectively. ImmunityBio also emphasized the importance of strategic collaborations to gain access to new markets for its approved product and acquire new technologies.
The company anticipates significant expenses as it seeks to expand its business, commercialize its approved product, seek regulatory approvals, and conduct research and development across multiple therapeutic areas. ImmunityBio also highlighted its collaboration and license agreements with related parties, including NantWorks, LLC, and Immuno-Oncology Clinic, Inc., as well as related-party leases for its facilities in the U.S. and Italy. Today the company's shares have moved -14.4% to a price of $2.82. If you want to know more, read the company's complete 10-K report here.
