ImmunityBio (IBRX) Is Becoming a Sleeping Giant - And Patrick Soon Shiong Knows It

Patrick Soon-Shiong's Strategic Investment

• 💡 Patrick Soon-Shiong, with a net worth of $5.6 billion, is the majority shareholder of ImmunityBio, controlling 65% of the company through direct ownership and two LLCs.
• 🔑 His investment strategy focuses on backing highly skilled individuals with a proven track record, which Soon-Shiong exemplifies through his history of building and selling successful pharmaceutical and biotech companies.
• 📈 The speaker acquired more IBRX stock due to Soon-Shiong's pedigree and the company's pipeline developments, viewing the current trading price of $2.29 as a good entry point.

Commercial Success of ANKTIVA

• ✅ ImmunityBio has an FDA-approved bladder cancer treatment, ANKTIVA, which is responsible for significant commercial success.
• 📊 Product revenue surged by 434% in Q3 2025, with unit sales volume growing by 467% compared to the previous year, demonstrating strong commercial demand.
• 🚀 This success marks ImmunityBio's transition from a cash-burning biotech to a company with a rapidly scaling commercial asset, significantly strengthening its financial position to advance other pipeline projects.

Promising Glioblastoma Treatment

• 🔬 Early Phase 2 results for ANKTIVA in glioblastoma patients showed 100% disease control, including tumor shrinkage or no progression in all five patients.
• 🧠 The treatment also led to an increase in lymphocyte counts in all patients, suggesting ANKTIVA successfully activates the immune system to fight this deadly cancer.
• 🎯 Glioblastoma is a highly aggressive cancer with a poor prognosis, and if effective, ANKTIVA could become a game-changing, blockbuster treatment by addressing a significant unmet medical need.

Advancing Lung Cancer Therapy

• 🧬 ImmunityBio is in Phase 3 trials for non-small cell lung cancer (NCLC) using ANKTIVA plus tislelizumab, representing the most advanced treatment in their development pipeline.
• 💡 The Phase 2 study demonstrated that 80% of treated patients had their immune systems activated, reaching healthy white blood cell levels, and 60% reversed lymphopenia.
• 🗓️ Earliest FDA approval for the NCLC treatment is realistically projected around late 2027 to 2028, indicating a future major milestone.

Key Catalysts for Growth

• 💰 Major catalysts include continued announcements of strong financial results validating the commercial success of the bladder cancer treatment.
• 📌 A closer-term catalyst is the trial initiation for the glioblastoma treatment, which could generate significant interest.
• 📈 Another significant catalyst is the pending decision from the NCCN regarding the expansion of the approved bladder cancer treatment to a new patient population (papillary-only bladder cancer), potentially doubling the addressable market and leading to a major share price spike.