Why ImmunityBio, Inc. (IBRX) Soared on Friday

We recently compiled a list of the Wall Street Optimism Spills Over to These 10 Stocks on Friday. In this article, we are going to take a look at where ImmunityBio, Inc. (NASDAQ:IBRX) stands against the other stocks.

Wall Street finished the trading week stronger, posting gains by more than 1 percent after slipping into the negative territory at intra-day trading following a clash between US President Donald Trump and Ukrainian leader Volodymyr Zelensky at the White House.

Following the televised meeting, the two leaders concluded the encounter without a deal for joint development of mineral resources.

The Dow Jones jumped by 1.39 percent, the S&P 500 surged by 1.59 percent, and the Nasdaq soared by 1.63 percent.

The broader market optimism spilled into individual stocks, with 10 companies ending the trading session with strong gains. In this article, we have detailed the reasons behind their impressive performance.

To come up with Friday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A technician analyzing natural killer cells, as part of an immune system study and research into therapeutical agents.

ImmunityBio, Inc. (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) snapped a six-day losing streak on Friday as investors resorted to bargain-hunting to take advantage of its cheap valuation while also cheering news that it has officially received the Food and Drug Administration’s (FDA) Regenerative Medicine Advanced Therapy designation for ANKTIVA and CARNK to treat lymphopenia and pancreatic cancer.

In other news, earlier last month, ImmunityBio, Inc. (NASDAQ:IBRX) was also authorized by the 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, ImmunityBio, Inc. (NASDAQ:IBRX) said supplies of rBCG would be shipped immediately. The alternative source was developed by the Serum Institute of India, the world’s largest manufacturer of vaccines by volume.

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.

Overall IBRX ranks 3rd on our list of Friday’s top gainers. While we acknowledge the potential of IBRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IBRX but 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 is originally published at Insider Monkey.