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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 | 70.2% | 668.3% | -15.0% |
| 2024 | $15M | $-264M | $-414M | $-398M | 84.6% | 2270.6% | -29.1% |
| 2023 | $1M | $-479M | $-583M | $-397M | 99.4% | 159.2% | 40.0% |
| 2022 | $0M | $-352M | $-417M | $-437M | 93.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0.24 | 0.62 | 14.74 | 113.29 |
| Operating Revenue | - | 0 | 0 | 14.15 | 112.98 |
| Cost Of Revenue | - | 0 | 0 | 0 | 0.75 |
| Gross Profit | - | 0.24 | 0.62 | 14.74 | 112.54 |
| Operating Expense | - | 350.86 | 361.99 | 358.93 | 368.56 |
| Research And Development | - | 248.15 | 232.37 | 190.14 | 218.56 |
| Selling General And Administration | - | 102.71 | 129.62 | 168.78 | 150 |
| Total Expenses | - | 350.86 | 361.99 | 358.93 | 369.32 |
| Operating Income | - | -350.62 | -361.36 | -344.18 | -256.03 |
| Total Operating Income As Reported | - | -351.30 | -362.25 | -344.18 | -256.03 |
| EBITDA | - | -351.88 | -478.58 | -264.35 | -223.56 |
| Normalized EBITDA | - | -358.86 | -430.36 | -303.36 | -282.76 |
| EBIT | - | -370.14 | -497.09 | -281.90 | -239.08 |
| Interest Income | - | 2.71 | 0.86 | 2.40 | 2.69 |
| Interest Expense | - | 47.14 | 86.80 | 131.74 | 112.52 |
| Net Interest Income | - | -60.81 | -128.34 | -151.93 | -109.84 |
| Other Non Operating Income Expenses | - | -0.74 | -38.43 | 43.46 | -44.95 |
| Other Income Expense | - | -5.86 | -94.19 | 82.46 | 14.26 |
| Interest Income Non Operating | - | 2.71 | 0.86 | 2.40 | 2.69 |
| Interest Expense Non Operating | - | 47.14 | 86.80 | 131.74 | 112.52 |
| Net Non Operating Interest Income Expense | - | -60.81 | -128.34 | -151.93 | -109.84 |
| Pretax Income | - | -417.29 | -583.89 | -413.64 | -351.61 |
| Tax Provision | - | 0.03 | -0.04 | 0 | -0.14 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 1.47 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -417.32 | -583.85 | -413.64 | -351.47 |
| Net Income From Continuing And Discontinued Operation | - | -416.57 | -583.20 | -413.56 | -351.40 |
| Net Income From Continuing Operation Net Minority Interest | - | -416.57 | -583.20 | -413.56 | -351.40 |
| Net Income | - | -416.57 | -583.20 | -413.56 | -351.40 |
| Net Income Common Stockholders | - | -416.57 | -583.20 | -413.56 | -351.40 |
| Net Income Including Noncontrolling Interests | - | -417.32 | -583.85 | -413.64 | -351.47 |
| Normalized Income | - | -422.08 | -534.98 | -452.57 | -410.60 |
| Diluted NI Availto Com Stockholders | - | -416.57 | -583.20 | -413.56 | -351.40 |
| Basic Average Shares | - | 399.90 | 508.64 | 697.31 | 919.86 |
| Diluted Average Shares | - | 399.90 | 508.64 | 700.44 | 919.86 |
| Reconciled Depreciation | - | 18.26 | 18.51 | 17.55 | 15.52 |
| Reconciled Cost Of Revenue | - | 0 | 0 | 0 | 0.75 |
| Total Unusual Items | - | 6.98 | -48.22 | 39.01 | 59.20 |
| Total Unusual Items Excluding Goodwill | - | 6.98 | -48.22 | 39.01 | 59.20 |
| Minority Interests | - | 0.75 | 0.66 | 0.08 | 0.07 |
| Special Income Charges | - | -0.68 | -0.89 | 0 | 0 |
| Impairment Of Capital Assets | - | 0.68 | 0.89 | 0 | 0 |
| Gain On Sale Of Security | - | 7.66 | -47.33 | 39.01 | 59.20 |
| Total Other Finance Cost | - | 16.37 | 42.40 | 22.59 | - |
| Earnings From Equity Interest | - | -12.11 | -7.55 | 0 | 0 |
| Securities Amortization | 0.49 | 1.49 | -1.84 | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ImmunityBio, Inc.this co. | IBRX | $7.6B | -21.73 | -15.26 | 70.2% | -36.08 |
| Nuvalent, Inc. | NUVL | $7.4B | -17.46 | 5.95 | -34.1% | - |
| Praxis Precision Medicines, Inc. | PRAX | $7.4B | -24.34 | 8.41 | -34.5% | -21.54 |
| HealthEquity, Inc. | HQY | $7.2B | 33.42 | 3.41 | 10.2% | 16.10 |
| Oscar Health, Inc. | OSCR | $7.1B | -16.06 |
| - |
| - |
| - |
| - |
| - |
| 7.28 |
| -45.3% |
| - |
| Vaxcyte, Inc. | PCVX | $7.0B | -9.18 | 2.62 | -28.5% | -7.77 |
| Apogee Therapeutics, Inc. | APGE | $6.9B | -26.79 | 7.58 | -28.3% | -23.68 |
| Spyre Therapeutics, Inc. | SYRE | $6.8B | - | 9.53 | -21.7% | - |
| Arcellx, Inc. | ACLX | $6.7B | -29.41 | 16.73 | -56.9% | -30.17 |
| Peer Median | - | -17.46 | 7.43 | -31.3% | -21.54 | |