ImmunityBio (NASDAQ: IBRX) Q1 revenue jumps 168% to $44.2M
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
ImmunityBio, Inc. reported preliminary Q1 2026 net product revenue of approximately $44.2 million, driven by continued adoption of its bladder cancer therapy ANKTIVA. This represents about a 168% year-over-year increase versus Q1 2025 and a 15% sequential rise from $38.3 million in Q4 2025.
Full-year 2025 net product revenue was $113 million, up roughly 700% from 2024, underscoring rapid commercial ramp. The company ended Q1 2026 with about $380.9 million in cash, cash equivalents and marketable securities. ANKTIVA is approved or authorized in five regulatory jurisdictions covering roughly 34 countries, and key bladder cancer trials are fully enrolled with a supplemental BLA targeted in 2026.
Positive
- Preliminary Q1 2026 net product revenue surged to ~$44.2 million, a ~168% year-over-year increase and 15% sequential growth from $38.3 million in Q4 2025, highlighting strong commercial momentum for ANKTIVA.
- ImmunityBio ended Q1 2026 with about $380.9 million in cash, cash equivalents and marketable securities, providing meaningful financial resources alongside rapid revenue growth and advancing bladder cancer clinical programs.
Negative
- None.
Insights
ImmunityBio shows rapid ANKTIVA revenue growth with a solid cash position and advancing bladder cancer programs.
ImmunityBio reports preliminary Q1 2026 net product revenue of about $44.2 million, up roughly 168% year over year and 15% sequentially from $38.3 million. This builds on full-year 2025 net product revenue of $113 million, a roughly 700% increase over 2024, indicating strong early commercial traction for ANKTIVA.
The company ended Q1 2026 with approximately $380.9 million in cash, cash equivalents and marketable securities, supporting its development plans. ANKTIVA is approved or authorized across five regulatory jurisdictions covering about 34 countries, and ANKTIVA unit sales volumes grew about 168% in Q1 2026 versus Q1 2025, reflecting growing usage.
Clinically, the pivotal BCG-naïve NMIBC CIS trial (QUILT-2.005) is fully enrolled with Independent Data Monitoring Committee confirmation of adequate statistical power, and a supplemental BLA filing is planned for 2026. NCCN Clinical Practice Guidelines now include ANKTIVA plus BCG (Category 2A) in a key bladder cancer setting, which may help support ongoing adoption.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Preliminary Q1 2026 net product revenue: $44.2 million
Q1 2026 YoY revenue growth: 168%
Q1 2026 sequential revenue growth: 15%
+4 more
7 metrics
Preliminary Q1 2026 net product revenue
$44.2 million
Three-month period ending March 31, 2026
Q1 2026 YoY revenue growth
168%
Net product revenue growth vs. Q1 2025
Q1 2026 sequential revenue growth
15%
Increase over $38.3 million in Q4 2025
Full-year 2025 net product revenue
$113 million
Approximately 700% increase over full-year 2024
Cash, cash equivalents and marketable securities
$380.9 million
Estimated balance as of March 31, 2026
ANKTIVA unit sales growth
168%
Increase in unit sales volume in Q1 2026 vs. Q1 2025
ANKTIVA geographic reach
5 jurisdictions / ~34 countries
Approved or authorized markets as of press release
Key Terms
net product revenue, BCG-unresponsive NMIBC, supplemental BLA, Independent Data Monitoring Committee, +2 more
6 terms
net product revenue financial
"ImmunityBio reported preliminary net product revenue of approximately $44.2 million during the three-month period ending March 31, 2026"
Net product revenue is the money a company actually earns from selling its products after subtracting returns, discounts, rebates and other sales-related allowances. It shows the real cash-generating sales performance—like the amount a store keeps after giving change for coupons and refunds—and matters to investors because it drives profitability, helps forecast future cash flow and reveals whether reported sales are sustainable or inflated by temporary price cuts or promotions.
BCG-unresponsive NMIBC medical
"NCCN Clinical Practice Guidelines updated in March 2026 to include ANKTIVA plus BCG for BCG-unresponsive NMIBC with papillary-only disease"
BCG-unresponsive NMIBC is a form of early-stage bladder cancer that has not responded to standard treatment with bacillus Calmette-Guérin (BCG), a common immune-stimulating therapy used for tumors that have not invaded the bladder muscle. For investors, it matters because these patients represent an unmet medical need and a defined group for clinical trials and regulatory paths; developing an effective therapy for them can open a clear market opportunity, similar to fixing a problem that existing tools can’t solve.
supplemental BLA regulatory
"supplemental BLA submission on track for 2026"
A supplemental BLA is an application to the U.S. regulator asking permission to change an already approved biologic medicine — for example to add a new use, alter dosing, change how it’s made, or update labeling. Investors watch these filings because approval can unlock new sales or lower costs (like adding a popular new feature to an existing product), while denial or delays can limit growth and affect a company’s revenue outlook.
Independent Data Monitoring Committee technical
"the Independent Data Monitoring Committee (IDMC) confirming adequate statistical power"
A panel of independent medical, statistical and ethical experts who review ongoing clinical trial data to judge participant safety, study integrity and whether the trial should continue, change or stop. Like impartial referees or safety inspectors, their decisions can speed, delay or halt a drug’s development and therefore materially affect a company’s timelines, regulatory chances and investment risk.
NCCN Clinical Practice Guidelines medical
"NCCN Clinical Practice Guidelines updated in March 2026 to include ANKTIVA plus BCG"
NCCN Clinical Practice Guidelines are evidence-based recommendations created by a panel of oncology experts that set out preferred approaches to diagnosing and treating specific cancers. Investors pay attention because these nationally recognized guidelines help determine which drugs, tests and procedures become routine, influence insurance coverage and reimbursement, and therefore can speed up or slow a therapy’s commercial uptake—like an authoritative roadmap for clinical use.
BCG-naïve NMIBC CIS trial (QUILT-2.005) medical
"the pivotal BCG-naïve NMIBC CIS trial (QUILT-2.005) is fully enrolled"
Earnings Snapshot
Net product revenue: $44.2 million
Q1 2026
Net product revenue
$44.2 million
+168% YoY
Net product revenue sequential change
15%
+15% QoQ
Full-year 2025 net product revenue
$113 million
+700% vs. 2024
Cash, cash equivalents and marketable securities
$380.9 million
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 9, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (844) 696-5235
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 9, 2026, ImmunityBio, Inc. (the “Company”) issued a press release announcing certain preliminary, unaudited financial results for the fiscal quarter ending March 31, 2026, along with additional Company updates. The results included in the press release reflect the Company’s preliminary estimates based solely upon information available to it as of the date of the press release, and the amounts reported are not a comprehensive statement of its operating results or financial position as of March 31, 2026. Any actual amounts that the Company reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026 will be subject to its financial closing procedures and any final adjustments that may be made prior to the time its operating results and financial position for the fiscal quarter ended March 31, 2026 are finalized. As a result, these preliminary estimates may differ materially from the actual results that will be reflected in the Company’s consolidated financial statements for the fiscal quarter ended March 31, 2026 when they are completed and publicly disclosed in its Quarterly Report on Form 10-Q. The full text of the Company’s press release is furnished as Exhibit 99.1 hereto.
The information furnished pursuant to Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filings of the Company made under the Exchange Act or the Securities Act of 1933, as amended, whether made before or after the date of this Current Report, regardless of any general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
| Exhibit Number | Description of Exhibit | |||||||
| 99.1** | Press release dated April 9, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
_______________
** Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IMMUNITYBIO, INC. | |||||||||||
| Registrant | |||||||||||
Date: April 9, 2026 | By: | /s/ David C. Sachs | |||||||||
| David C. Sachs | |||||||||||
| Chief Financial Officer | |||||||||||
EXHIBIT 99.1
ImmunityBio Reports Net Product Revenue Increased Nearly 2.7 Times Year-Over-Year
to Record $44 Million in Q1 2026 and $381 Million in Cash and Marketable Securities
•Preliminary Q1 2026 net product revenue of approximately $44.2 million, representing an ~168% year-over-year increase compared with Q1 2025
•Consistent quarter-over quarter revenue growth since commercial launch, reflecting continued adoption of ANKTIVA® by U.S. urologists
•Full-year 2025 net product revenue of $113 million, a 700% increase over full-year 2024, as reported in the Company’s Form 10-K
•ANKTIVA Unit Growth: 168% increase in unit sales volume in Q1 2026 compared to Q1 2025
•ANKTIVA is now approved or authorized across five regulatory jurisdictions, representing approximately 34 countries
•NCCN Clinical Practice Guidelines updated in March 2026 to include ANKTIVA plus BCG for BCG-unresponsive NMIBC with papillary-only disease (Category 2A)
•Pivotal BCG-naïve NMIBC CIS trial (QUILT-2.005) fully enrolled, with the Independent Data Monitoring Committee (IDMC) confirming adequate statistical power; supplemental BLA submission on track for 2026
CULVER CITY, Calif., Apr. 9, 2026 — ImmunityBio, Inc. (NASDAQ: IBRX), a commercial-stage biotechnology company, announced today preliminary select operational results for the fiscal quarter ending March 31, 2026. ImmunityBio reported preliminary net product revenue of approximately $44.2 million during the three-month period ending March 31, 2026, with net product revenue growth in every quarter since ANKTIVA’s commercial launch, including a 168% increase over Q1 2025. This builds on full-year 2025 net product revenue of $113 million, a 700% increase over full-year 2024. Q1 2026 net product revenue also represents a 15% sequential increase over the $38.3 million earned during Q4 2025.
ANKTIVA is now approved or authorized across five regulatory jurisdictions, representing approximately 34 countries. Additionally, the pivotal BCG-naïve CIS trial (QUILT-2.005) is fully enrolled, with the IDMC confirming no additional enrollment is required. A supplemental BLA submission is on track for 2026.
The Company ended the quarter with an estimated $380.9 million in cash, cash equivalents and marketable securities as of March 31, 2026.
“ANKTIVA’s continued momentum reflects growing physician adoption and disciplined commercial execution,” said Richard Adcock, President and CEO of ImmunityBio. “Following strong growth in 2025, we are focused on scaling in the U.S. and expanding across an increasing number of global markets.”
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“The sustained momentum of ANKTIVA reflects its growing commercial adoption in the BCG-unresponsive NMIBC CIS setting and feedback from treating urologists has been consistently positive,” said Patrick Soon-Shiong, M.D., Founder, Executive Chairman and Global Chief Scientific and Medical Officer of ImmunityBio. “Across our clinical programs, we are seeing strong enrollment and growing investigator participation, supporting advancement of our broader pipeline. Full enrollment of our pivotal BCG-naïve CIS with or without papillary disease trial, with IDMC confirmation of adequate statistical power further strengthen the expanding body of clinical evidence supporting ANKTIVA in the NMIBC bladder cancer setting. With our BCG-unresponsive NMIBC with papillary-only disease supplemental BLA now filed and our commitment to our pipeline development across multiple solid and liquid tumor types, we remain focused on advancing new treatment options for patients with bladder cancer and other indications.”
These amounts reflect the Company’s preliminary estimates based solely upon information available to it as of the date of this press release, and the amounts reported are not a comprehensive statement of its operating results or financial position as of March 31, 2026. Any actual amounts that the Company reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026 will be subject to its financial closing procedures and any final adjustments that may be made prior to the time its operating results and financial position for the fiscal quarter ended March 31, 2026 are finalized. As a result, these preliminary estimates may differ materially from the actual results that will be reflected in the Company’s consolidated financial statements for the fiscal quarter ended March 31, 2026 when they are completed and publicly disclosed in its Quarterly Report on Form 10-Q.
About ImmunityBio
ImmunityBio is a biotechnology company focused 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. Our approach harnesses both the adaptive and innate immune systems with the goal of restoring immune function and generating lasting immunological memory in patients. At the core of our strategy is the Cancer BioShield™ platform, which is designed to stimulate critical lymphocytes, including natural killer (NK) cells, cytotoxic T cells, and memory T cells via our proprietary IL-15 receptor superagonist, ANKTIVA® (nogapendekin alfa inbakicept). Our Cancer BioShield platform is anchored by this antibody-cytokine fusion protein and is complemented by a portfolio that includes adenovirus-vectored vaccines, allogeneic (off-the-shelf) and autologous NK-cell therapies, and additional immunomodulators intended to promote immunogenic cell death and support durable immune responses while potentially reducing reliance on high-dose chemo-radiation therapy. For more information, visit ImmunityBio.com (Founder’s Vision Immunotherapy 2.0) and connect with us on X (Twitter), Facebook, LinkedIn, and Instagram.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’s clinical development programs, commercial success of its products and product candidates, manufacturing capabilities, continued collaboration with third parties, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such forward-looking statements include statements regarding the Company’s expectations regarding its preliminary, unaudited financial results for the fiscal quarter ending March 31, 2026, expectations regarding increased sales momentum and continued revenue growth, its cash, cash equivalents and marketable securities as of March 31, 2026, the expected impact of ANKTIVA approvals in additional markets on the Company’s business and financial condition, potential regulatory pathways and the regulatory review process and timing thereof, the anticipated timing of the supplemental BLA submission for the BCG-naïve CIS indication, the application of the Company’s science and platforms to treat cancers, immunotherapies and cell therapies and change the standard of care across multiple cancers, and the Company’s ability to sustain quarter-over-quarter growth.
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Statements in this press release that are not statements of historical fact are considered forward-looking statements, which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “goal,” “could,” “estimates,” “scheduled,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “indicate,” “projects,” “is,” “seeks,” “should,” “will,” “strategy,” and variations of such words or similar expressions. Statements of past performance, efforts, or results of our preclinical and clinical trials, about which inferences or assumptions may be made, can also be forward-looking statements and are not indicative of future performance or results. Forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of ImmunityBio’s management as well as assumptions made by and information currently available to ImmunityBio. Such information may be limited or incomplete, and ImmunityBio’s statements should not be read to indicate that it has conducted a thorough inquiry into, or review of, all potentially available relevant information. Such statements reflect the current views of ImmunityBio with respect to future events and are subject to known and unknown risks, including business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about ImmunityBio, including, without limitation, (i) the risk that the Company’s preliminary financial results may differ from final reported results, (ii) risks and uncertainties regarding participation and enrollment and potential results from clinical trials, (iii) whether clinical trials will result in registrational pathways, (iv) whether clinical trial data will be accepted by regulatory agencies, (v) the ability of ImmunityBio to fund its ongoing and anticipated clinical trials, (vi) the ability of ImmunityBio to continue its planned preclinical and clinical development of its development programs through itself and/or its investigators, and the timing and success of any such continued preclinical and clinical development, patient enrollment and planned regulatory submissions, (vii) potential delays in product availability and regulatory approvals, (viii) ImmunityBio’s ability to retain and hire key personnel, (ix) ImmunityBio’s ability to obtain additional financing to fund its operations and complete the development and commercialization of its various product candidates, (x) potential product shortages or manufacturing disruptions that may impact the availability and timing of product, (xi) ImmunityBio’s ability to successfully commercialize its approved product and product candidates, (xii) ImmunityBio’s ability to scale its manufacturing and commercial supply operations for its approved product and future approved products, and (xiii) ImmunityBio’s ability to obtain, maintain, protect, and enforce patent protection and other proprietary rights for its product candidates and technologies.
More details about these and other risks that may impact ImmunityBio’s business are described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on February 23, 2026 and in subsequent filings made by ImmunityBio with the SEC, which are available on the SEC’s website at www.sec.gov. ImmunityBio cautions you not to place undue reliance on any forward looking statements, which speak only as of the date hereof. ImmunityBio does not undertake any duty to update any forward-looking statement or other information in this press release, except to the extent required by law.
ImmunityBio Contacts:
Investors
Hemanth Ramaprakash, PhD, MBA
ImmunityBio, Inc.
+1-858-746-9289
Hemanth.Ramaprakash@ImmunityBio.com
Media
Sarah Singleton
ImmunityBio, Inc.
+1-415-290-8045
Sarah.Singleton@ImmunityBio.com
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FAQ
How much preliminary Q1 2026 revenue did ImmunityBio (IBRX) report?
ImmunityBio reported preliminary Q1 2026 net product revenue of about $44.2 million. This reflects strong growth since ANKTIVA’s commercial launch and includes a roughly 168% year-over-year increase compared with Q1 2025, plus a 15% sequential rise from $38.3 million in Q4 2025.
How fast is ImmunityBio (IBRX) growing ANKTIVA revenue year over year?
ImmunityBio’s preliminary Q1 2026 net product revenue grew by roughly 168% year over year versus Q1 2025. ANKTIVA unit sales volume also increased about 168% over the same period, showing that higher demand rather than just pricing is driving revenue expansion in this early commercial phase.
What was ImmunityBio’s (IBRX) full-year 2025 net product revenue?
ImmunityBio reported full-year 2025 net product revenue of $113 million. This represents approximately a 700% increase compared with full-year 2024, underlining how quickly ANKTIVA sales have scaled in the first full year after commercial launch according to the company’s disclosed financial figures.
What cash position did ImmunityBio (IBRX) report as of March 31, 2026?
ImmunityBio ended the quarter with an estimated $380.9 million in cash, cash equivalents and marketable securities as of March 31, 2026. This cash position accompanies rapid growth in net product revenue and supports ongoing commercial activities and clinical development across multiple bladder cancer programs.
In how many countries is ANKTIVA currently approved or authorized?
ANKTIVA is approved or authorized across five regulatory jurisdictions, representing approximately 34 countries. These approvals, together with updated NCCN Clinical Practice Guidelines and fully enrolled pivotal bladder cancer trials, support ImmunityBio’s effort to expand ANKTIVA’s global footprint over time.
What key clinical and regulatory milestones did ImmunityBio (IBRX) highlight?
ImmunityBio highlighted full enrollment of its pivotal BCG-naïve NMIBC CIS trial (QUILT-2.005), with IDMC confirmation of adequate statistical power. It expects a supplemental BLA submission in 2026 and noted NCCN guideline inclusion of ANKTIVA plus BCG in a Category 2A bladder cancer setting.