ImmunityBio, Inc. (NASDAQ: IBRX) has reported significant financial and operational achievements in its full-year 2025 financial highlights. The company has experienced remarkable growth, with net product revenue for Anktiva reaching approximately $113 million, representing an impressive increase of approximately 700% year-over-year. Furthermore, the unit sales volume for Anktiva saw a substantial surge, with a staggering 750% increase in 2025 compared to 2024.
In the fourth quarter of 2025, the company achieved a net product revenue of $38.3 million, marking a substantial 431% increase. ImmunityBio also bolstered its financial position, reporting consolidated cash, cash equivalents, and marketable securities of $242.8 million as of December 31, 2025.
The company's research and development (R&D) expenses surged to $63.9 million during the three months ended December 31, 2025, compared to $35.2 million during the same period in 2024. This increase was primarily driven by a $14.0 million one-time write-off of fixed assets, higher manufacturing and distribution costs, increased production, and clinical trial activities.
Despite the significant increase in R&D expenses, ImmunityBio managed to reduce its selling, general, and administrative (SG&A) expenses to $38.7 million during the three months ended December 31, 2025, compared to $41.7 million during the same period in 2024. This decrease was attributed to lower litigation settlement and commercial consulting costs, partially offset by higher headcount costs due to the company's expanding operations.
The company's strategic global expansion was evidenced by the establishment of a global regulatory footprint in 33 countries across four major regulatory jurisdictions. This expansion was achieved in under two years from the initial FDA approval in 2024, representing a rapid international expansion for an immunotherapy in this indication.
Additionally, ImmunityBio secured the first approval for Anktiva in combination with checkpoint inhibitors for the treatment of metastatic non-small cell lung cancer by the Saudi Food and Drug Authority (SFDA) in January 2026. This marks a significant milestone for the company, as it signifies the first authorization of Anktiva beyond bladder cancer and the first validation of its role as a lymphocyte-stimulating agent in solid tumors.
With these impressive financial and operational accomplishments, ImmunityBio is poised for continued growth and expansion as it advances its pipeline and clinical trials across multiple therapeutic areas, positioning Anktiva as a foundational backbone of immunotherapy for various types of cancer. The market has reacted to these announcements by moving the company's shares 39.75% to a price of $5.52. For more information, read the company's full 8-K submission here.
