ImmunityBio Surges 34% on Groundbreaking Trial Data and Enrollment Hurdle – What’s Next for the Biotech Giant?

Summary
• ImmunityBio (IBRX) rockets 34% intraday, trading at $5.2969 after a $4.38 low
• QUILT-106 trial reports 100% disease control in Waldenström lymphoma with CAR-NK therapy
• QUILT-2.005 enrollment exceeds 85%, accelerating FDA BLA timeline
• Options frenzy: 20 contracts traded, with 103,000+ shares exchanged

ImmunityBio’s stock has erupted on a historic day of clinical and operational progress. The biotech’s CAR-NK therapy demonstrated durable remission in four Waldenström lymphoma patients, while its bladder cancer trial hit enrollment targets ahead of schedule. With options volatility spiking and technical indicators flashing bullish signals, the market is redefining its narrative around this immunotherapy pioneer.

CAR-NK Trial Breakthrough and Bladder Cancer Enrollment Drive Surge
ImmunityBio’s 34% rally stems from two blockbuster updates. First, its QUILT-106 trial showed 100% disease control in Waldenström lymphoma patients using CAR-NK therapy, with 15-month remissions observed without chemotherapy. Second, the QUILT-2.005 bladder cancer trial exceeded 85% enrollment, accelerating a potential 2026 FDA BLA filing. These developments validate the company’s BioShield platform and position ANKTIVA as a cornerstone in immuno-oncology, driving institutional and retail buying frenzy.

Biotech Sector Rally Amplified by ImmunityBio’s Momentum
The broader biotech sector, led by Amgen (AMGN) with a 0.38% intraday gain, saw renewed interest as investors rotated into high-conviction clinical-stage names. ImmunityBio’s 34% move outperformed peers, reflecting its unique positioning in cell therapy and its recent $800M cash runway. While Amgen’s incremental gains highlight sector caution, ImmunityBio’s dual catalysts—regulatory milestones and transformative data—have created a decoupling from the sector’s typically volatile dynamics.

Options Volatility and Technicals Signal Aggressive Bullish Setup
• RSI: 92.49 (overbought)
• MACD: 0.24 (bullish), Signal Line: 0.07, Histogram: 0.17
• 200D MA: $2.51 (far below current price)
• Bollinger Bands: $1.37–$3.26 (price at 5.2969, far above upper band)

ImmunityBio’s technicals scream short-term euphoria. The RSI at 92.49 suggests overbought conditions, while the MACD histogram’s 0.17 divergence confirms bullish momentum. With the stock trading at 210% above its 200-day average, this is a classic breakout scenario. The options chain reflects this frenzy, with 103,000+ shares traded and 20 contracts active.

Top Option 1: IBRX20260220C5
• Type: Call
• Strike: $5.00
• Expiration: 2026-02-20
• IV: 160.31% (high volatility)
• Leverage: 4.50% (moderate)
• Delta: 0.642 (moderate sensitivity)
• Theta: -0.0163 (high time decay)
• Gamma: 0.1407 (high sensitivity to price swings)
• Turnover: 1,033,915 (liquid)
• Payoff at 5% Upside: $0.645 per contract (5.2969 → 5.5612)
This call option balances leverage and liquidity. The high gamma and moderate delta make it ideal for a continuation of the 34% move, while the 160% IV reflects market anticipation of further volatility.

Top Option 2: IBRX20260220C4.5
• Type: Call
• Strike: $4.50
• Expiration: 2026-02-20
• IV: 155.27%
• Leverage: 3.76%
• Delta: 0.718
• Theta: -0.0148
• Gamma: 0.1315
• Turnover: 210,539
• Payoff at 5% Upside: $1.061 per contract
This contract offers higher delta for a more conservative bet on continued momentum. The 155% IV and 131,500 gamma suggest strong sensitivity to price action, making it a safer play if the 52W high of $5.55 is tested.

Action: Aggressive bulls should allocate 50% to IBRX20260220C5 for high-gamma exposure and 50% to IBRX20260220C4.5 for delta-protected upside. Target $5.55 (52W high) and $6.00 (5% above 52W high).

Backtest ImmunityBio Stock Performance
The backtest of IBRX's performance following a 34% intraday surge from 2022 to the present indicates positive short-to-medium-term gains, with the 3-Day, 10-Day, and 30-Day win rates being 46.33%, 45.41%, and 51.38%, respectively. However, the maximum return during the backtest period was only 6.79%, which suggests that while IBRX showed consistent gains, they were not exceptionally high.

Breakout Momentum Unlikely to Subside – Position for 52W High Test
ImmunityBio’s 34% surge is underpinned by transformative clinical data and regulatory progress, not speculative hype. The stock’s 5.2969 price—trading at 210% above its 200-day average—signals a shift from range-bound to breakout mode. With QUILT-106’s 15-month remission data and QUILT-2.005’s enrollment success, the 52W high of $5.55 is now a technical and fundamental target. Investors should watch for a close above $5.55 to confirm a new bullish trend. Meanwhile, Amgen’s 0.38% gain as sector leader underscores the broader biotech rotation. Act now: Buy IBRX20260220C5 and C4.5 for leveraged exposure to a stock on the cusp of a $6.00 milestone.