10 Firms Shine Amid Wall Street’s Lackluster Trading

1. Immunitybio Inc. (NASDAQ:IBRX)

Shares of Immunitybio (IBRX) surged by 27.2 on Thursday, a second consecutive day, as investors cheered announcements of plans to submit multiple treatments for approval by the Food and Drug Administration in 2025.

Late Wednesday, Immunitybio said it would submit a supplemental biologics license application (BLA) for the treatment of bladder cancer. If approved by the FDA, the BLAs will allow the company to sell its products across the US.

In addition, it would also submit another BLA for the treatment of patients with a certain type of lung cancer.

Immunitybio (IBRX) said that a Phase 2B study had already indicated positive results for patients whose first and second treatment attempts ended unsuccessfully after using the company’s Anktiva drug in combination with other inhibitors.

While we acknowledge the potential of IBRX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than IBRX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.