ImmunityBio Soars 9.65% on Groundbreaking Cancer Trial Results: What's Fueling This Biotech Surge?

Summary
• ImmunityBio (IBRX) surges 9.65% to $2.84, hitting an intraday high of $2.92
• Positive ANKTIVA trial data in lung cancer and bladder cancer drives retail and institutional buying
• 22.2M shares traded, with options volume spiking on bullish call spreads

ImmunityBio’s stock is in a tailwind as clinical trial results for its immunotherapy ANKTIVA spark a frenzy. The biotech’s shares have surged over 21% in the past week, with today’s 9.65% rally driven by statistically significant immune restoration data in non-small cell lung cancer (NSCLC) and bladder cancer. Retail traders on Stocktwits have shifted to 'extremely bullish' sentiment, while options activity highlights aggressive call buying. The stock’s 52-week high of $4.27 remains a psychological hurdle, but momentum suggests a potential breakout.

ANKTIVA’s Dual Trial Success Sparks Biotech Rally
ImmunityBio’s 9.65% surge is anchored by two clinical trial breakthroughs for ANKTIVA. In the first-line NSCLC trial (QUILT-2.023), the drug combined with checkpoint inhibitors showed a statistically significant increase in absolute lymphocyte count (p=0.0065), a critical biomarker for immune restoration. The second-line trial (QUILT-3.055) revealed 77% of patients maintained or restored lymphocyte levels, with responders achieving a median survival of 16.2 months—far exceeding historical chemotherapy outcomes. These results position ANKTIVA as a potential 'Immunotherapy 2.0' platform, targeting both innate and adaptive immune systems. The European Medicines Agency’s conditional marketing authorization recommendation for bladder cancer further amplifies investor optimism, with Jefferies raising its price target to $9.00.

Biotech Sector Gains Momentum Amid Innovation Hype
The broader biotech sector is experiencing a renaissance, with AbbVie’s $5.6B RemeGen deal and Novartis’s Alzheimer’s acquisition signaling renewed confidence. However, ImmunityBio’s rally is distinct—it stems from proprietary clinical data rather than M&A activity. While peers like Moderna and Amgen focus on manufacturing scalability, ImmunityBio’s ANKTIVA trials highlight a paradigm shift in immunotherapy. The stock’s 27.8 price-to-sales ratio, though high, reflects its disruptive potential in oncology, contrasting with sector leaders like Amgen (AMGN), which fell 0.56% as investors rotate into innovation-driven plays.

Options and ETFs to Capitalize on IBRX’s Bullish Momentum
• RSI: 71.79 (overbought), MACD: 0.0337 (bullish), 200D MA: $2.508 (below price)
• Bollinger Bands: Price at $2.84 (above middle band of $2.16), suggesting continuation of short-term bullish trend

ImmunityBio’s technicals and fundamentals align for a continuation of the rally. Key resistance lies at $3.00 (52-week high of $4.27 is distant but psychologically significant). The 200-day moving average at $2.508 acts as a strong support. For leveraged exposure, consider XBI (Biotech Select Sector SPDR ETF) or IBRX20260220C2.5 and IBRX20260220C3.5 options.

Top Option 1: IBRX20260220C2.5
• Code: IBRX20260220C2.5
• Type: Call
• Strike Price: $2.50
• Expiration: 2026-02-20
• IV: 91.62% (high volatility)
• Leverage Ratio: 5.38%
• Delta: 0.726 (moderate sensitivity)
• Theta: -0.005296 (rapid time decay)
• Gamma: 0.3899 (high sensitivity to price movement)
• Turnover: $31,991
• Payoff at 5% upside ($2.98): $0.48 per share
This call option offers a balance of leverage and liquidity, ideal for capitalizing on a potential $3.00 breakout. High gamma ensures it gains value quickly if the stock surges.

Top Option 2: IBRX20260220C3.5
• Code: IBRX20260220C3.5
• Type: Call
• Strike Price: $3.50
• Expiration: 2026-02-20
• IV: 79.09% (reasonable volatility)
• Leverage Ratio: 14.25%
• Delta: 0.258 (low sensitivity)
• Theta: -0.003737 (moderate time decay)
• Gamma: 0.4389 (high sensitivity to price movement)
• Turnover: $3,686
• Payoff at 5% upside ($2.98): $0.00 (out-of-the-money)
While this option is currently out-of-the-money, its high gamma and leverage make it a speculative play if the stock breaks above $3.50. Aggressive bulls may consider this for a 10%+ move.

Action Alert: If $3.00 breaks, IBRX20260220C2.5 offers a high-probability trade. For a longer-term bet, IBRX20260320C3.5 (March 20 expiration) provides extended exposure.

Backtest ImmunityBio Stock Performance
The backtest of IBRX's performance following a 10% intraday surge from 2022 to the present indicates positive short-to-medium-term gains. 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%, suggesting that IBRX tends to experience gains in the immediate aftermath of such events. The maximum return observed was 6.70% over 30 days, indicating that while the gains are generally modest, there is potential for significant appreciation in a short period.

ImmunityBio’s ANKTIVA Momentum: A Biotech Breakout on the Horizon?
ImmunityBio’s 9.65% surge is a testament to the power of clinical innovation in biotech. With ANKTIVA’s dual trial success and regulatory tailwinds, the stock is primed to test its 52-week high of $4.27. Key levels to watch include $3.00 (psychological hurdle) and $2.50 (200-day support). The sector leader Amgen (AMGN) fell 0.56% today, highlighting a rotation into high-conviction innovation plays. Investors should monitor the Phase 3 NSCLC trial progress and EMA’s conditional approval timeline. Act now: Buy IBRX20260220C2.5 for a $3.00 breakout or XBI for sector-wide exposure. If $2.50 holds, the rally could extend into Q2 2026.