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ImmunityBio, Inc., a biotechnology company, focuses on innovating, developing, and commercializing next-generation immunotherapies designed to activate the patient's immune system and deliver durable protection against cancer and infectious diseases. Its platforms for the development of biologic products and product candidates that include cytokine fusion proteins, DNA and vaccine vectors, and cell therapies. The company's platform has generated first-in-human therapeutic agents that are planned to be studied in clinical trials in liquid and solid tumors. Its lead biologic product candidate includes Anktiva, an FDA-approved immunotherapy in combination with bacillus calmette-guérin (BCG) for the treatment of adult patients with BCG unresponsive non-muscle invasive bladder cancer with carcinoma in situ, with or without papillary tumors; and 3M-052, a synthetic TLR7/8 agonist and 3M-052 formulations and related technology. The company has collaboration agreements with National Cancer Institute; Serum Institute of India Private Limited; and BeOne Medicines Ltd. It has license agreement with 3M Innovative Properties Company and Access to Advanced Health Institute. ImmunityBio, Inc. is based in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $113M | $-224M | $-351M | $-309M | 70.3% | 668.3% | - |
| 2024 | $15M | $-264M | $-414M | $-398M | 84.7% | 2270.6% | - |
| 2023 | $1M | $-479M | $-583M | $-397M | 99.5% | 159.2% | - |
| 2022 | $0M | $-352M | $-417M | $-437M | 92.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0.24 | 0.62 | 14.74 | 113.29 |
| Cost Of Revenue | 0 | 0 | 0 | 0.75 |
| Gross Profit | 0.24 | 0.62 | 14.74 | 112.53 |
| Operating Expense | 350.86 | 361.99 | 358.93 | 368.56 |
| Operating Income | -350.62 | -361.36 | -344.18 | -256.03 |
| EBITDA | -351.88 | -478.58 | -264.35 | -223.56 |
| EBIT | -370.14 | -497.09 | -281.90 | -239.08 |
| Pretax Income | -417.29 | -583.89 | -413.64 | -351.61 |
| Tax Provision | 0.03 | -0.04 | 0 | -0.14 |
| Net Income | -416.57 | -583.20 | -413.56 | -351.40 |
| Net Income Common Stockholders | -416.57 | -583.20 | -413.56 | -351.40 |
| Total Expenses | 350.86 | 361.99 | 358.93 | 369.31 |
| Interest Expense | 47.15 | 86.80 | 131.74 | 112.53 |
| Interest Income | 2.71 | 0.86 | 2.40 | 2.69 |
| Research And Development | 248.15 | 232.37 | 190.14 | 218.56 |
| Selling General And Administration | 102.71 | 129.62 | 168.78 | 150 |
| Normalized EBITDA | -358.86 | -430.36 | -303.36 | -282.76 |
| Normalized Income | -422.08 | -534.98 | -452.57 | -410.60 |
| Basic EPS | -1.04 | -1.15 | -0.59 | -0.38 |
| Diluted EPS | -1.04 | -1.15 | -0.62 | -0.38 |
| Tax Effect Of Unusual Items | 1.47 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 | 0 |
| Total Unusual Items | 6.98 | -48.22 | 39.01 | 59.20 |
| Total Unusual Items Excluding Goodwill | 6.98 | -48.22 | 39.01 | 59.20 |
| Net Income From Continuing Operation Net Minority Interest | -416.57 | -583.20 | -413.56 | -351.40 |
| Reconciled Depreciation | 18.26 | 18.51 | 17.55 | 15.53 |
| Reconciled Cost Of Revenue | 0 | 0 | 0 | 0.75 |
| Net Interest Income | -60.81 | -128.34 | -151.93 | -109.84 |
| Net Income From Continuing And Discontinued Operation | -416.57 | -583.20 | -413.56 | -351.40 |
| Total Operating Income As Reported | -351.30 | -362.25 | -344.18 | -256.03 |
| Diluted Average Shares | 399.90 | 508.64 | 700.44 | 919.86 |
| Basic Average Shares | 399.90 | 508.64 | 697.31 | 919.86 |
| Diluted NI Availto Com Stockholders | -416.57 | -583.20 | -413.56 | -351.40 |
| Minority Interests | 0.75 | 0.66 | 0.08 | 0.07 |
| Net Income Including Noncontrolling Interests | -417.32 | -583.85 | -413.64 | -351.47 |
| Net Income Continuous Operations | -417.32 | -583.85 | -413.64 | -351.47 |
| Other Income Expense | -5.86 | -94.19 | 82.46 | 14.26 |
| Other Non Operating Income Expenses | -0.74 | -38.43 | 43.46 | -44.95 |
| Special Income Charges | -0.68 | -0.89 | 0 | 0 |
| Impairment Of Capital Assets | 0.68 | 0.89 | 0 | 0 |
| Securities Amortization | 1.49 | -1.84 | 0 | 0 |
| Earnings From Equity Interest | -12.11 | -7.55 | 0 | 0 |
| Gain On Sale Of Security | 7.66 | -47.33 | 39.01 | 59.20 |
| Net Non Operating Interest Income Expense | -60.81 | -128.34 | -151.93 | -109.84 |
| Total Other Finance Cost | 16.37 | 42.40 | 22.59 | 0 |
| Interest Expense Non Operating | 47.15 | 86.80 | 131.74 | 112.53 |
| Interest Income Non Operating | 2.71 | 0.86 | 2.40 | 2.69 |
| Operating Revenue | 0 | 0 | 14.15 | 112.98 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ImmunityBio, Inc.this co. | IBRX | $7.2B | - | -14.06 | 70.3% | -32.25 |
| Nuvalent, Inc. | NUVL | $7.8B | - | 6.21 | -34.1% | - |
| Cytokinetics, Incorporated | CYTK | $7.4B | - | -11.11 | 119.0% | -13.11 |
| Apogee Therapeutics, Inc. | APGE | $7.3B | - | 6.21 | -28.3% | -17.34 |
| HealthEquity, Inc. | HQY | $6.9B | 33.12 |
| 3.29 |
| 10.2% |
| 15.69 |
| Arcellx, Inc. | ACLX | $6.7B | - | 16.56 | -56.9% | -25.69 |
| Kymera Therapeutics, Inc. | KYMR | $6.7B | - | 4.20 | -19.7% | -17.38 |
| Spyre Therapeutics, Inc. | SYRE | $6.2B | - | 10.05 | 0.0% | - |
| Cogent Biosciences, Inc. | COGT | $6.1B | - | 10.56 | -51.7% | -15.73 |
| Peer Median | - | 33.12 | 6.21 | -24.0% | -16.53 | |