Why Immunitybio Inc. (IBRX) Soared on Thursday

We recently compiled a list of the 10 Firms Lead Thursday’s Rally on Better Earnings, Bargain-Hunting. In this article, we are going to take a look at where Immunitybio Inc. (NASDAQ:IBRX) stands against the other stocks.

Optimistic sentiment continued to drive Wall Street on Thursday, with all major indices closing higher.

The Dow Jones Industrial Average rose by 0.38 percent, the S&P 500 grew 0.53 percent, and the Nasdaq Composite was up by 0.25 percent.

Ten companies posted notable gains, largely fueled by strong earnings results for the fourth quarter and full-year 2024.

To come up with Thursday’s top gainers, we considered only the stocks with at least $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)

Shares of Immunitybio rose 9.81 percent on Thursday to finish at $3.47 apiece as investor sentiment was buoyed by news that it sealed a collaboration and supply partnership with multinational oncology firm BeiGene.

The partnership involves the conduct of a confirmatory randomized Phase 3 clinical trial combining BeiGene’s tislelizumab and ImmunityBio’s Anktiva, which aims to confirm the efficacy and safety of a combination ANKTIVA plus CPI therapy and provide evidence of the potential for the two immunotherapeutic agents to improve overall survival in patients with advanced or metastatic NSCLC who have acquired resistance to immune CPI therapy.

The primary endpoint of the study is overall survival, with secondary endpoints including disease control rate, progression-free survival, objective response rate, and safety.

Overall IBRX ranks 9th on our list of Thursday’s top gainers. 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.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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