ImmunityBio's Revenue Soars on Global Expansion of Cancer Therapy

ImmunityBio forecasts 2025 revenue to hit $113.2M, up 700%, driven by Anktiva. Despite growth, firm remains unprofitable. New approvals enable launches in Saudi Arabia and Europe.

ImmunityBio has reported a dramatic surge in projected revenue for 2025, driven by its immunotherapy drug Anktiva. Despite this significant top-line growth, the biotechnology firm continues to operate at a loss. A key development in its strategy is a shift beyond the U.S. market, with recent regulatory approvals now paving the way for commercial launches in Saudi Arabia and Europe.

Financial Performance: Rapid Growth Amid Persistent Losses

The company forecasts net product revenue from Anktiva to reach approximately $113.2 million for the full year 2025. According to its announcement, this figure represents a staggering increase of roughly 700% compared to the prior year. The volume of units sold reportedly grew by an even more substantial 750%.

A quarterly breakdown shows accelerating commercial momentum. ImmunityBio generated $38.3 million in revenue during the fourth quarter of 2025. This result marks a 20% sequential increase from the third quarter and a significant jump from the $7.2 million reported in the same period of 2024. While these numbers underscore rapidly expanding sales, the company has not yet achieved profitability.

Losses remain a feature of the current financial picture. The net loss attributable to common shareholders was $61.9 million for Q4 2025, slightly higher than the $59.2 million loss recorded in the year-ago quarter.

On an annual basis, the loss situation showed some improvement. The net loss for 2025 narrowed to $351.4 million, down from $413.6 million in 2024. ImmunityBio ended the year with a solid financial cushion, holding $242.8 million in cash, cash equivalents, and marketable securities.

Strategic Moves: New Approvals Fuel International Rollout

The company's global expansion strategy gained critical momentum in early 2026. In January, the Saudi Food and Drug Authority granted a conditional accelerated approval for Anktiva. The therapy, in combination with checkpoint inhibitors, is now approved for treating metastatic non-small cell lung cancer in the region. This authorization is notable as it represents the first approval for Anktiva outside of its initial bladder cancer indication. To facilitate the launch, ImmunityBio established a local subsidiary and formed partnerships with regional distributors.

The European market also opened for business. The European Commission issued a conditional marketing authorization for Anktiva for the treatment of BCG-unresponsive non-muscle invasive bladder cancer. To manage its European rollout, the company has set up a subsidiary in Dublin and entered into a collaboration with Accord Healthcare. This partnership is designed to build a dedicated sales force across multiple European countries.