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ImmunityBio reported a Q3 adjusted loss of 10 cents per share, wider than the estimated loss of 8 cents.
Anktiva revenues rose 53% year over year to $48.7 million but declined 4% sequentially.
The FDA expanded Anktiva's label to cover all patients with BCG-unresponsive NMIBC.
ImmunityBio (IBRX - Free Report) reported an adjusted loss of 10 cents per share in the third quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 8 cents. The loss also widened 43% compared with the year-ago period’s loss of 7 cents.
Total revenues jumped 53% year over year to $48.8 million but missed the Zacks Consensus Estimate of $61 million.
IBRX's Q3 Results in Detail
The top-line performance reflected continued adoption of the company’s sole marketed drug, Anktiva, among U.S. urologists and strong market access. Net product revenues, which accounted for nearly all quarterly revenues, reached $48.7 million, rising 53% year over year from $31.8 million in the year-ago quarter. However, net product revenues declined approximately 4% sequentially.
Other revenues totaled $0.1 million compared with $0.3 million in the year-ago period.
Research and development expenses (including stock-based compensation costs) grew 39.6% to nearly $71.5 million. The increase reflected higher personnel-related costs, clinical trial expenses partially offset by lower manufacturing expenses.
Selling, general and administrative expenses (including stock-based compensation costs) rose 48.8% year over year to $54 million. The increase stemmed mainly from higher professional services, personnel-related and commercial expenses.
As of Sept. 30, 2026, ImmunityBio held approximately $334.3 million in cash, cash equivalents and marketable securities compared with $350 million as of June 30, 2026.
ImmunityBio’s shares declined nearly 18% in response to the weaker-than-expected earnings results. Anktiva's sales fell sequentially, ending eight consecutive quarters of growth and raising concerns about its sales momentum. Rising operating expenses further dampened investor sentiment.
Year to date, shares of ImmunityBio have skyrocketed 259.1% compared with the industry’s nearly 9.9% growth.
Earlier this month, ImmunityBio reported positive final results from cohort A of the phase III QUILT-2.005 study which evaluated Anktiva plus BCG in BCG-naïve NMIBC patients. The study met its primary endpoint by showing that the chemotherapy-free combination significantly improved treatment efficacy in patients with carcinoma in situ (CIS), with or without papillary tumors, compared with BCG alone. The company remains on track to submit a supplemental biologics license application to the FDA to get approval of Anktiva in combination with BCG in patients with BCG-naïve NMIBC in the fourth quarter of 2026.
This month, the Israeli Ministry of Health approved Anktiva plus BCG for adults with BCG-unresponsive NMIBCwith CIS, with or without papillary tumors. The approval expanded Anktiva’s regulatory footprint, with Rafa Laboratories serving as its exclusive commercialization partner in Israel. The first patients in Europe were treated with the Anktiva -BCG combination, marking further progress in its international expansion.
ImmunityBio, Inc. Price, Consensus and EPS Surprise
Over the past 30 days, earnings per share estimates for TG Therapeutics remained unchanged at 83 cents for 2026. Over the same period, estimates for 2027 earnings per share have increased from $2.65 to $2.66. TGTX’s shares have surged 112.6% year to date.
TG Therapeutics’ earnings missed estimates in three of the trailing four quarters and beat in the remaining one, with an average surprise of 184.65%.
Over the past 30 days, earnings per share estimates for Amneal Pharmaceuticals have increased from $1.03 to $1.04 for 2026. Over the same period, estimates for 2027 earnings per share have risen from $1.16 to $1.19. AMRX’s shares have climbed 68.9% year to date.
Amneal Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 27.21%.
Over the past 30 days, earnings per share estimates for Halozyme Therapeutics have increased from $8.73 to $8.81 for 2026. Over the same period, estimates for 2027 earnings per share have risen from $9.80 to $10.31. HALO’s shares have climbed 53% year to date.
Halozyme Therapeutics’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 19.41%.
View the Zacks #1 Rank List
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IBRX Q3 Earnings Miss, Anktiva Sales Decline Q/Q, Stock Down 18%
Key Takeaways
ImmunityBio (IBRX - Free Report) reported an adjusted loss of 10 cents per share in the third quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 8 cents. The loss also widened 43% compared with the year-ago period’s loss of 7 cents.
Total revenues jumped 53% year over year to $48.8 million but missed the Zacks Consensus Estimate of $61 million.
IBRX's Q3 Results in Detail
The top-line performance reflected continued adoption of the company’s sole marketed drug, Anktiva, among U.S. urologists and strong market access. Net product revenues, which accounted for nearly all quarterly revenues, reached $48.7 million, rising 53% year over year from $31.8 million in the year-ago quarter. However, net product revenues declined approximately 4% sequentially.
Other revenues totaled $0.1 million compared with $0.3 million in the year-ago period.
Research and development expenses (including stock-based compensation costs) grew 39.6% to nearly $71.5 million. The increase reflected higher personnel-related costs, clinical trial expenses partially offset by lower manufacturing expenses.
Selling, general and administrative expenses (including stock-based compensation costs) rose 48.8% year over year to $54 million. The increase stemmed mainly from higher professional services, personnel-related and commercial expenses.
As of Sept. 30, 2026, ImmunityBio held approximately $334.3 million in cash, cash equivalents and marketable securities compared with $350 million as of June 30, 2026.
ImmunityBio’s shares declined nearly 18% in response to the weaker-than-expected earnings results. Anktiva's sales fell sequentially, ending eight consecutive quarters of growth and raising concerns about its sales momentum. Rising operating expenses further dampened investor sentiment.
Year to date, shares of ImmunityBio have skyrocketed 259.1% compared with the industry’s nearly 9.9% growth.
Image Source: Zacks Investment Research
IBRX Advances Anktiva’s Regulatory Reach
In October, the FDA approved a label expansion for Anktiva in combination with Bacillus Calmette-Guérin (BCG) to include adults with BCG-unresponsive NMIBC with high-grade papillary-only disease. The decision marks the first FDA approval specifically for this patient population. With the expanded label, Anktiva plus BCG now covers all patients with BCG-unresponsive NMIBC.
Earlier this month, ImmunityBio reported positive final results from cohort A of the phase III QUILT-2.005 study which evaluated Anktiva plus BCG in BCG-naïve NMIBC patients. The study met its primary endpoint by showing that the chemotherapy-free combination significantly improved treatment efficacy in patients with carcinoma in situ (CIS), with or without papillary tumors, compared with BCG alone. The company remains on track to submit a supplemental biologics license application to the FDA to get approval of Anktiva in combination with BCG in patients with BCG-naïve NMIBC in the fourth quarter of 2026.
This month, the Israeli Ministry of Health approved Anktiva plus BCG for adults with BCG-unresponsive NMIBCwith CIS, with or without papillary tumors. The approval expanded Anktiva’s regulatory footprint, with Rafa Laboratories serving as its exclusive commercialization partner in Israel. The first patients in Europe were treated with the Anktiva -BCG combination, marking further progress in its international expansion.
ImmunityBio, Inc. Price, Consensus and EPS Surprise
ImmunityBio, Inc. price-consensus-eps-surprise-chart | ImmunityBio, Inc. Quote
IBRX’s Zacks Rank & Other Stocks to Consider
Iovance currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are TG Therapeutics (TGTX - Free Report) and Amneal Pharmaceuticals (AMRX - Free Report) ,currently sporting a Zacks Rank #1 (Strong Buy) each and Halozyme Therapeutics (HALO - Free Report) , carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings per share estimates for TG Therapeutics remained unchanged at 83 cents for 2026. Over the same period, estimates for 2027 earnings per share have increased from $2.65 to $2.66. TGTX’s shares have surged 112.6% year to date.
TG Therapeutics’ earnings missed estimates in three of the trailing four quarters and beat in the remaining one, with an average surprise of 184.65%.
Over the past 30 days, earnings per share estimates for Amneal Pharmaceuticals have increased from $1.03 to $1.04 for 2026. Over the same period, estimates for 2027 earnings per share have risen from $1.16 to $1.19. AMRX’s shares have climbed 68.9% year to date.
Amneal Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 27.21%.
Over the past 30 days, earnings per share estimates for Halozyme Therapeutics have increased from $8.73 to $8.81 for 2026. Over the same period, estimates for 2027 earnings per share have risen from $9.80 to $10.31. HALO’s shares have climbed 53% year to date.
Halozyme Therapeutics’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 19.41%.