ImmunityBio Surges 15% on Groundbreaking Cancer Trial Results: A New Era for NK Cell Therapy?

Summary
• ImmunityBio (IBRX) surges 15.38% to $2.85, hitting an intraday high of $2.9389
• QUILT-106 trial reports complete responses in Waldenstrom macroglobulinemia patients using CD19 CAR-NK therapy
• Options volume spikes 24.29% turnover rate, with 20 contracts traded

ImmunityBio’s stock erupted on August 13, 2025, as early-stage clinical data from its QUILT-106 trial revealed complete remission in two patients with relapsed Waldenstrom macroglobulinemia (WM). The biotech’s CD19 CAR-NK therapy, administered without chemotherapy, demonstrated unprecedented efficacy in a disease deemed incurable by current standards. With a 15.38% intraday gain and a 24.29% turnover rate, the market is reacting to a potential paradigm shift in oncology immunotherapy.

CD19 CAR-NK Therapy Sparks Biotech Sector Optimism
ImmunityBio’s QUILT-106 trial results represent a seismic shift in oncology. The trial’s two patients with advanced WM achieved complete responses using CD19 CAR-NK cell therapy—either as monotherapy or in combination with rituximab—without significant toxicities. This marks the first evidence of chemotherapy-free immunotherapy achieving durable remission in late-stage WM. The data, submitted for presentation at the American Society of Hematology annual meeting, validates the company’s NK cell platform as a viable alternative to traditional lymphodepletion regimens. Analysts highlight the trial’s outpatient administration and lack of severe side effects as critical differentiators, fueling investor enthusiasm.

Options Playbook: Leveraging IBRX’s Volatility with Gamma-Driven Contracts
• RSI: 19.77 (oversold)
• MACD: -0.096 (bearish divergence), Signal Line: -0.0843 (converging)
• Bollinger Bands: Price at $2.85 (near lower band of $2.1965)
• 200D MA: $3.192 (price 34% below)

IBRX’s technicals suggest a short-term bullish breakout amid oversold conditions. The RSI at 19.77 indicates potential for a rebound, while the MACD histogram (-0.0117) hints at narrowing bearish momentum. Bollinger Bands show the stock is trading near its 200-day low, creating a high-risk, high-reward setup. Two options contracts stand out for aggressive positioning:

• IBRX20250919C2.5 (Call, $2.5 strike, 9/19 expiry):
- IV: 129.19% (elevated volatility)
- Delta: 0.693 (high sensitivity to price moves)
- Theta: -0.0069 (moderate time decay)
- Gamma: 0.299 (strong gamma for directional bets)
- Turnover: 6,832 (liquid)
- Leverage Ratio: 4.54%
- Payoff at 5% Upside (ST = $2.99): $0.49 (49% gain on strike).
This contract offers a high-gamma, high-delta play for a 5% price move, with IV at 129% amplifying potential returns.

• IBRX20250919C3 (Call, $3 strike, 9/19 expiry):
- IV: 115.88% (moderate volatility)
- Delta: 0.512 (balanced sensitivity)
- Theta: -0.0068 (moderate decay)
- Gamma: 0.379 (strong gamma)
- Turnover: 312,422 (high liquidity)
- Leverage Ratio: 8.04%
- Payoff at 5% Upside (ST = $2.99): $0.00 (strike not breached).
While the $3 strike is currently out-of-the-money, its 8.04% leverage and 0.379 gamma make it a speculative play for a breakout above $3.00.

Trading Setup: Target a short-term bounce above $3.00, with a stop-loss at $2.50 (200D MA support). Aggressive bulls may consider IBRX20250919C2.5 for a 5% upside scenario, while IBRX20250919C3 offers a high-gamma, high-liquidity play for a sustained rally.

Backtest ImmunityBio Stock Performance
The backtest of IBRX's performance after a 15% intraday surge shows favorable short-term gains, with the 3-Day win rate at 46.85%, the 10-Day win rate at 46.30%, and the 30-Day win rate at 50.37%. The maximum return during the backtest period was 7.29% over 54 days, indicating that IBRX tends to maintain positive momentum following a significant intraday surge.

IBRX’s Breakout: A Catalyst for Biotech Innovation or a Fleeting Rally?
ImmunityBio’s QUILT-106 results could redefine NK cell therapy in oncology, but the stock’s 15.38% surge must clear key technical hurdles to sustain momentum. The 52-week high of $7.48 remains a distant target, while the 200-day moving average at $3.192 acts as a critical resistance. Investors should monitor the $2.6072 (middle Bollinger Band) and $2.1965 (lower band) levels for support. Meanwhile, Amgen (AMGN), the sector leader, rose 0.98% on August 13, signaling broader biotech resilience. For IBRX, the path forward hinges on enrollment progress in QUILT-106 and regulatory feedback. Action: Buy IBRX20250919C2.5 for a 5% upside scenario, or watch for a breakdown below $2.55 (intraday low) to trigger a short-term correction.