Immunitybio is trading at $7.25 (+4.32%) after reporting second-quarter product revenue of $50.7 million, representing a 92% year-over-year increase.
- The rally is driven by the eighth consecutive quarter of sequential growth for ANKTIVA, with investors focusing on commercial momentum despite widened net losses from non-cash fair value adjustments.
- Upside is further reinforced by a broader risk-on biotech backdrop, as the XBI ETF rose 2.02% alongside gains in major U.S. indexes.