ImmunityBio Q2 Revenue Surges 2,540%, Narrowing Net Loss

ImmunityBio's Q2 2025 revenue soared to $26.4 million, a 2,540% increase from Q2 2024, driven by ANKTIVA sales and international launches. Net loss per share improved to ($0.10), beating estimates. Despite surging product revenue, heavy net losses and cash burn remain. The company continues to invest in R&D and scale up its manufacturing facilities.

ImmunityBio, Inc. (NASDAQ: IBRX) reported significant revenue growth in the second quarter of 2025, driven by strong sales momentum of its ANKTIVA product. The company's Q2 2025 revenue reached $26.4 million, marking a 60% increase from $16.5 million in the first quarter of 2025 [1]. This growth is attributed to the continued commercial traction of ANKTIVA in combination with BCG for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without papillary tumors.

The company's cash position as of June 30, 2025, stood at $153.7 million, with an additional $80 million equity financing closed in July 2025, which could result in up to approximately $96.0 million in gross proceeds [1]. Despite the significant revenue growth, ImmunityBio reported a net loss of $92.6 million during the second quarter, compared to $134.6 million in the same period last year. The net loss per share improved to ($0.10), beating estimates.

ImmunityBio's research and development (R&D) expenses increased to $55.2 million during the second quarter, up from $51.1 million in the same period last year [1]. The company continues to invest heavily in R&D and scale up its manufacturing facilities to meet the growing demand for its products.

The company's expanded access program (EAP) authorization for ANKTIVA in combination with BCG for all solid tumors in patients who have failed first-line treatment has been activated [1]. Additionally, ImmunityBio has submitted clinical trial applications for ResQ201A, its IL-15 superagonist N-803 in combination with tislelizumab, in the EU and the UK, with plans to submit in Canada and Asia [1].

ImmunityBio's net loss attributable to common stockholders for the six months ended June 30, 2025, was $222.2 million, compared to $268.7 million in the same period last year. The reduction in net loss was primarily driven by increased product revenue, lower R&D and selling, general, and administrative (SG&A) expenses, lower related-party interest expense, and changes in the fair value of warrant liabilities [1].

Despite the heavy net losses and cash burn, ImmunityBio remains committed to its goal of using innovative science to attack a broad range of cancers. The company is actively expanding its clinical trials globally and continues to invest in R&D to meet the urgent needs of millions of patients.

References:

[1] https://finance.yahoo.com/news/immunitybio-reports-q2-earnings-release-110000675.html