ImmunityBio Inc. (NASDAQ:IBRX) shares are down on Wednesday, cooling off from a huge up move as the company is reportedly experiencing significant revenue growth.
This surge follows a strong performance driven by the sales of its lead drug, Anktiva, which has gained traction in the market.
The stock has jumped over 50% over the last month, thanks to investor interest after preliminary earnings and several strategic partnerships.
Anktiva Sales Surge: 750% Unit Increase
ImmunityBio reported a remarkable year-over-year revenue increase, with sales jumping from $7.56 million to $38.29 million, surpassing the consensus estimate of $37.02 million.
The company also noted a 750% unit sales volume increase for Anktiva, which is now approved in 33 countries for treating non-muscle invasive bladder cancer.
The announcement highlighted ImmunityBio’s strategic partnerships and ongoing clinical trials, positioning Anktiva as a key component of its cancer treatment platform.
The company is also preparing to submit additional information to the U.S. Food and …