ImmunityBio Skyrockets 11.2% on Asian Approval — Is This the Catalyst for the Next Big Biotech Rally?

Summary
• Shares of ImmunityBio (IBRX) surged 11.2% intraday after Macau granted regulatory approval for its oncology drug Anktiva.
• The stock is trading at $9.37 with a 10.6257% intraday price change and a 52-week high of $12.43.
• Macau’s approval is the first in Asia for Anktiva and marks a strategic milestone in the company’s global expansion.

ImmunityBio has made a dramatic move today, with its stock climbing more than 10% in a high-turnover session. This sharp rise is directly tied to regulatory progress in Macau, where the company’s flagship therapy received approval for a key indication in bladder cancer. Analysts have turned bullish, and options volume reflects mounting volatility in both directions. This article unpacks the catalyst behind the move, what it means for the biotech sector, and actionable trading strategies for the coming days.

Regulatory Approval in Macau Ignites Investor Optimism
The 11.2% surge in ImmunityBio shares follows the company’s announcement that Macau regulators have approved Anktiva in combination with BCG for the treatment of non-muscle invasive bladder cancer (NMIBC) that is unresponsive to BCG alone. This marks the first regulatory authorization in Asia for Anktiva, opening the door to potential approvals in other countries across the Asia-Pacific region. The approval is part of a broader regulatory tailwind, with Anktiva recently being added to the U.S. National Comprehensive Cancer Network (NCCN) treatment guidelines. The company emphasized that this win supports its ongoing global expansion into 34 countries and territories, making the news a strong catalyst for investor enthusiasm in the near term.

Biotech Sector Rally Fueled by Innovation and Regulatory Momentum
The biotechnology sector has been on a steady upward trajectory, with Merck (MRK) up 1.27% today alone. As one of the sector’s leading pharmaceutical companies, Merck’s performance underscores a broader trend of optimism in oncology and immunotherapy development. ImmunityBio’s regulatory progress in Macau aligns with this theme, as Anktiva’s mechanism—activating the immune system to fight cancer—positions the company at the forefront of a growing trend in cancer treatment. While Merck’s revenue and market cap dwarf that of ImmunityBio, the latter’s rapid regulatory advancements and clinical trial pipeline suggest a high-growth subset of the sector is gaining traction with investors.

Options and Technicals Signal High Volatility, Strategic Entry Points Emerge
• 200-day moving average: 3.63 (far below current price)
• 50-day moving average: 7.24 (bullish divergence)
• RSI: 29.69 (oversold territory)
• MACD: 0.32 (bullish crossover with bearish histogram)
• Bollinger Bands: Current price at 9.37 is approaching upper band at 10.91, suggesting potential for continuation or pullback.

ImmunityBio is in a strong short-term bullish trend with oversold RSI and a MACD indicating momentum is still building. The stock is near the upper Bollinger Band and has a high volume-to-avg-volume ratio, signaling high volatility and investor attention. With the 30-day and 200-day moving averages far below the current price, a continuation of the rally is likely if the stock holds above $8.50 and breaks out above $9.54. However, a retest of the 50-day average at $7.24 could trigger short-term profit-taking. The options market is also showing strong positioning for both bullish and bearish scenarios, as seen in the top two options below.

• IBRX20260327C9.5: Call option with strike price of $9.50, expiration on 2026-03-27, implied volatility of 109.03%, leverage ratio of 21.84%, delta of 0.49, theta of -0.084488, gamma of 0.332858, and high turnover of 92,016. This option is in the sweet spot for leverage and gamma, ideal for a moderate upside move.
• IBRX20260327C10: Call option with strike price of $10.00, expiration on 2026-03-27, implied volatility of 119.38%, leverage ratio of 34.78%, delta of 0.35, theta of -0.075343, gamma of 0.283293, and high turnover of 82,745. This contract is strong for longer-hold strategies with moderate to high upside potential.

For a 5% upside scenario (price reaching $9.89), the payoff for IBRX20260327C9.5 would be max(0, 9.89 - 9.50) = $0.39 per share. For IBRX20260327C10, it would be $0.00, as the stock is still below the strike. Traders should monitor the 9.50 level as a key pivot and use the C9.5 or C10 options for exposure to the next leg up.

Aggressive bulls may consider IBRX20260327C9.5 for a breakout above $9.50, where gamma and theta suggest rapid response to price movement.

Backtest ImmunityBio Stock Performance
The backtest of IBRX's performance following a 11% intraday surge from 2022 to the present indicates positive short-to-medium-term gains. The 3-Day win rate is 48.09%, the 10-Day win rate is 47.66%, and the 30-Day win rate is 55.53%, suggesting that IBRX tends to experience gains over these time frames. The maximum return during the backtest was 15.59%, which occurred on day 57, indicating that there is potential for substantial gains but with varying degrees of success across different time periods.

IBRX at a Pivotal Moment: Take Action Before the Next Big Move
The momentum in ImmunityBio appears to be fueled by both regulatory progress and market sentiment, with technicals and options volume pointing to continued upside. The 11.2% rally has brought the stock near the upper Bollinger Band and into overbought territory, but oversold RSI suggests there is room to run. Investors should closely watch the $9.50 level for confirmation of a new phase in the rally and the 50-day average at $7.24 as a critical support. In the broader biotech sector, Merck’s positive performance reinforces the sector’s momentum. Those with a high-risk tolerance and a bullish bias may consider IBRX20260327C9.5 as a leveraged bet on continued upside. The key takeaway: Watch for a breakout above $9.50 — it could be the start of the next major move for IBRX.