ImmunityBio (NASDAQ:IBRX), the California-based immunotherapy leader, reported explosive 2025 financial results on Monday, signaling its successful transition into a high-growth commercial powerhouse.
The company’s lead asset, ANKTIVA®, generated $113 million in net product revenue for the full year—a staggering 700% increase compared to 2024—driven by rapid adoption in the non-muscle invasive bladder cancer (NMIBC) market.
The commercial momentum was fueled by a 750% surge in unit sales volume, reflecting broad physician uptake and successful integration into oncology treatment pathways.
ImmunityBio maintained a strong growth trajectory through the end of the year, posting a 20% quarter-over-quarter revenue increase in the fourth quarter.
Beyond the balance sheet, 2025 marked a pivotal regulatory expansion for the company.
ImmunityBio now boasts a global footprint spanning 33 countries across four jurisdictions.
Most notably, the company secured its first regulatory approval for ANKTIVA in a new indication: a combination therapy with checkpoint inhibitors for the treatment of lung cancer.
This milestone significantly expands the drug's addressable market beyond urology and into the high-volume thoracic oncology space.