10 Stocks Stand Strong Amid Cautious Market Environment

3. ImmunityBio, Inc. (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) surged by 16.42 percent on Wednesday to end at $3.9 apiece as investors cheered news that it was authorized by the Food and Drug Administration (FDA) to help address the supply shortage of bladder cancer treatments in the US through bringing a vital alternative source of BCG (Bacillus Calmette-Guérin).

Upon securing FDA approval, IBRX said supplies of rBCG have been shipped immediately. The alternative source was developed by the Serum Institute of India, the world’s largest manufacturer of vaccines by volume.

“With the increasing threat of supply shortages of essential medicines, the biopharmaceutical industry must innovate and secure new means of ensuring uninterrupted access to vital therapeutics,” said Dr. Patrick Soon-Shiong, Founder, Executive Chairman and Global Chief Scientific and Medical Officer of ImmunityBio. “Our collaboration with the FDA and Serum Institute to ensure a reliable supply of this vital drug for bladder cancer patients underscores ImmunityBio’s commitment to addressing critical access issues that affect so many patients.”

Data from the National Cancer Institute in 2024 showed that there were 83,190 estimated new cases of bladder cancer in the US, while 16,840 died from the disease during the period. The current survival rate for individuals with bladder cancer is 78.4 percent.