ImmunityBio (IBRX) Surges 9.27% on Groundbreaking Lung Cancer Trial Results: Is This the Start of a Biotech Breakout?

Summary
• ImmunityBio’s stock (IBRX) rockets 9.27% to $2.83, hitting a 52-week high of $2.92
• Positive clinical data from QUILT-2.023 and QUILT-3.055 trials show ANKTIVA’s immune-boosting potential in NSCLC
• Options volume surges with 20 contracts trading, including 34,933 shares of IBRX20260220C3 call options

ImmunityBio’s shares are trading at their highest level since January 2026 amid a dramatic intraday rally driven by clinical trial results demonstrating ANKTIVA’s ability to extend survival in non-small cell lung cancer (NSCLC) patients. The stock’s 9.27% surge reflects investor optimism about the therapy’s potential to disrupt standard-of-care chemotherapy and position ImmunityBio as a leader in Immunotherapy 2.0.

ANKTIVA’s Immune Restoration Sparks Biotech Rally
ImmunityBio’s 9.27% intraday surge is directly tied to the release of clinical trial data showing ANKTIVA’s ability to restore immune function in NSCLC patients. In QUILT-2.023, the combination of ANKTIVA and checkpoint inhibitors increased absolute lymphocyte count (ALC) by 30% compared to CPI alone, while QUILT-3.055 demonstrated 77% of patients maintained ALC ≥1.0 × 10³ cells/µL. Responders in the latter trial achieved median survival of 16.2 months—tripling historical chemotherapy outcomes. These results validate ImmunityBio’s 'Immunotherapy 2.0' strategy, which leverages NK cell and T cell activation to combat immune exhaustion, positioning ANKTIVA as a potential first-line treatment for NSCLC.

Biotech Sector Volatility Amid Regulatory Uncertainty
The biotech sector (XBI: -1.11%) remains mixed as investors weigh recent FDA approvals against high R&D risks. While ImmunityBio’s rally outpaces peers like Amgen (AMGN: -1.11%), the sector’s high volatility (46.2% for IBRX) reflects broader uncertainty around regulatory pathways for novel immunotherapies. ANKTIVA’s unique mechanism—activating both innate and adaptive immune systems—positions it as a potential differentiator in a crowded oncology landscape, but its -422.28% net margin underscores the sector’s financial challenges.

Options Playbook: Leveraging IBRX’s Bullish Momentum
• MACD: 0.0337 (bullish divergence from -0.0147 signal line)
• RSI: 71.79 (overbought but supported by strong volume)
• Bollinger Bands: Price at 2.83 (above 2.45 upper band, indicating short-term strength)
• 200D MA: 2.508 (price trading 12.7% above key support)

ImmunityBio’s technicals suggest a continuation of its bullish momentum, with the 200-day moving average acting as a critical support level. The 71.79 RSI reading near overbought territory indicates strong short-term demand, while the MACD histogram’s positive expansion (0.0484) signals growing bullish conviction. For options traders, the IBRX20260220C3 call option (strike: $3, IV: 92.34%, delta: 0.483) and IBRX20260220C2.5 (strike: $2.5, IV: 95.88%, delta: 0.7097) stand out due to their high leverage ratios (10.44% and 5.42%) and moderate deltas, balancing directional exposure with time decay (theta: -0.0055 and -0.0055).

IBRX20260220C3
• Code: IBRX20260220C3
• Type: Call
• Strike: $3
• Expiration: 2026-02-20
• IV: 92.34% (high volatility)
• Leverage: 10.44%
• Delta: 0.483 (moderate directional sensitivity)
• Theta: -0.0055 (moderate time decay)
• Gamma: 0.4687 (high sensitivity to price changes)
• Turnover: 63,072 (liquid)
• Payoff at 5% upside (ST=2.97): $0.97 per share
• This contract offers optimal leverage for a 5% price move, with gamma and delta positioning it to capitalize on continued momentum.

IBRX20260220C2.5
• Code: IBRX20260220C2.5
• Type: Call
• Strike: $2.5
• Expiration: 2026-02-20
• IV: 95.88% (high volatility)
• Leverage: 5.42%
• Delta: 0.7097 (high directional sensitivity)
• Theta: -0.0055 (moderate time decay)
• Gamma: 0.3878 (moderate sensitivity to price changes)
• Turnover: 34,933 (liquid)
• Payoff at 5% upside (ST=2.97): $0.47 per share
• This contract provides a safer entry point with a lower strike price, ideal for a conservative bullish play given IBRX’s proximity to $3.

Actionable Insight: Aggressive bulls should consider IBRX20260220C3 for a 5% upside target, while conservative traders may use IBRX20260220C2.5 as a lower-risk entry. Both contracts benefit from IBRX’s current technical setup and high implied volatility.

Backtest ImmunityBio Stock Performance
The backtest of IBRX's performance following a 9% intraday increase from 2022 to the present shows favorable short-to-medium-term gains, highlighting the ETF's potential for capturing intraday volatility effectively. The 3-Day win rate is 46.17%, the 10-Day win rate is 45.50%, and the 30-Day win rate is 51.58%, indicating a higher probability of positive returns in the short and medium term. The maximum return during the backtest was 6.70% over 30 days, suggesting that IBRX can deliver decent gains even after an initial 9% surge.

IBRX’s Breakout: A Biotech Inflection Point?
ImmunityBio’s 9.27% rally on ANKTIVA’s clinical success signals a potential inflection point for the stock, driven by its unique immune-activation mechanism and strong technicals. The 200-day moving average at $2.508 remains a critical support level; a break below this could trigger a retest of the 2026-01-13 low of $2.62. Conversely, a sustained close above $3 would validate the stock’s breakout pattern. Investors should monitor the IBRX20260220C3 call option for directional exposure and the IBRX20260220P3 put option (delta: -0.433) for downside protection. With Amgen (AMGN: -1.11%) underperforming the sector, IBRX’s momentum highlights its potential to outperform in a risk-on environment. Act now: Buy IBRX20260220C3 for a 5% upside or short IBRX20260220P3 if $3 fails to hold.