ImmunityBio, Inc. (IBRX)

ImmunityBio, Inc., a biotechnology company, focuses on innovating, developing, and commercializing next-generation immunotherapies designed to activate the patient's immune system and deliver durable protection against cancer and infectious diseases. Its platforms for the development of biologic products and product candidates that include cytokine fusion proteins, DNA and vaccine vectors, and cell therapies. The company's platform has generated first-in-human therapeutic agents that are planned to be studied in clinical trials in liquid and solid tumors. Its lead biologic product candidate includes Anktiva, an FDA-approved immunotherapy in combination with bacillus calmette-guérin (BCG) for the treatment of adult patients with BCG unresponsive non-muscle invasive bladder cancer with carcinoma in situ, with or without papillary tumors; and 3M-052, a synthetic TLR7/8 agonist and 3M-052 formulations and related technology. The company has collaboration agreements with National Cancer Institute; Serum Institute of India Private Limited; and BeOne Medicines Ltd. It has license agreement with 3M Innovative Properties Company and Access to Advanced Health Institute. ImmunityBio, Inc. is based in San Diego, California.

Ticker
IBRX
Exchange
Nasdaq
Sector
Healthcare
Industry
Biotechnology
Market cap
$9.10B
52-week range
$1.95 - $12.43

Valuation

Share price
$8.64 (close of Nov 6, 2026)
P/E (TTM)
-8.91x
Price to book
-8.70x
Price to free cash flow
-31.59x
Enterprise value
$9.84B
Book value per share
$-0.99

Price performance

PeriodChange
1 day+7.87%
5 days+4.22%
1 month-10.84%
3 months+18.03%
6 months+3.10%
Year to date+336.36%
1 year+307.55%
3 years+140.00%
5 years+2.86%
10 years+44.97%
All time-75.06%

Short interest

As of
Oct 15, 2026
Short % of float
30.23%
Shares short
122.95M
Days to cover
7.15
Change since prior report
-0.92%
Source
FINRA consolidated short interest

Profitability and growth

Return on assets
-70.01%
Return on capital employed
-58.17%
Gross margin
99.34%
Net margin
-310.18%
EBITDA margin
-212.29%

Cash flow and balance sheet

Free cash flow yield (TTM)
-3.17%
Current ratio
5.72x
Net debt to EBITDA
-0.86x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$113.29M
Cost of revenue
$753.00K
Gross profit
$112.53M
EBITDA
-$240.50M
Net income
-$351.40M
Earnings per share
$-0.38
Interest expense
$60.89M
Shares outstanding
919.86M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$113.29M$112.53M-$351.40M-$0.38
2024-12-31$14.74M--$413.56M-$0.59
2023-12-31$622.00K--$583.20M-$1.15
2022-12-31$240.00K--$416.57M-$1.04
2021-12-31$934.00K--$346.79M-$0.89
2020-12-31$605.00K--$221.85M-$0.59
2019-12-31$2.20M--$157.78M-$0.43
2018-12-31$47.00K--$96.23M-$1.22
2017-12-31$45.00K--$96.42M-$1.20
2016-12-31$44.00K--$120.81M-$1.47

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3199.34%-310.18%--
2024-12-31--2,804.77%--
2023-12-31--93,761.41%--257.28%
2022-12-31--173,569.58%--128.23%
2021-12-31--37,129.55%--
2020-12-31--36,669.59%--
2019-12-31--7,165.17%-130.74%-115.86%
2018-12-31--204,736.17%-117.43%-119.46%
2017-12-31--214,273.33%-44.06%-45.07%
2016-12-31--274,565.91%-41.17%-42.24%

Cash and debt by year

Period endCashDebt
2025-12-31$88.33M-
2024-12-31$143.43M-
2023-12-31$265.45M$576.95M
2022-12-31$104.64M$241.27M
2021-12-31$181.10M-
2020-12-31$34.91M-
2019-12-31$75.80M-
2018-12-31$16.82M-
2017-12-31$23.87M-
2016-12-31$8.08M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$308.78M$36.81M
2024-12-31-$398.12M$34.43M
2023-12-31-$397.34M$49.16M
2022-12-31-$415.67M$40.18M
2021-12-31-$307.98M$57.18M
2020-12-31-$173.39M$2.19M
2019-12-31-$156.40M$3.42M
2018-12-31-$76.48M$23.38M
2017-12-31-$83.59M$37.00M
2016-12-31-$45.15M$73.85M

Investor relations

Next earnings report

Next confirmed report
Nov 10, 2026
Consensus EPS estimate
$-0.08

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-04Jun 2026-$0.09
2026-05-07Mar 2026-$0.08
2026-02-23Dec 2025-$0.08
2025-11-04Sep 2025-$0.10
2025-08-05Jun 2025-$0.10
2025-05-12Mar 2025-$0.12
2025-03-03Dec 2024-$0.26
2024-11-12Sep 2024-$0.18

Filings and sources

Company website
immunitybio.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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