IBRX - ImmunityBio: Anktiva's Launch Demands A Reassessment
2024-06-06 15:09:22 ET
Summary
- ImmunityBio's flagship product, Anktiva, has been launched in the market for the treatment of bladder cancer, with strong clinical data supporting its efficacy.
- The company is well-prepared for the launch, with a strong sales force, established distribution channels, and sufficient inventory.
- Analyst projections suggest significant growth for ImmunityBio, with the potential for Anktiva to become a blockbuster drug and drive the company's revenue in the coming years.
It has been nearly two years since my last ImmunityBio ( IBRX ) article , where I mentioned that the company had just submitted their BLA for Anktiva (N-803) to be used in combination with BCG for "BCG-unresponsive non-muscle invasive bladder cancer "NMIBC' carcinoma in situ "CIS" with or without Ta or T1 disease." Since then, the FDA has approved Anktiva in BCG unresponsive NMIBC and ImmunityBio launched the product earlier this month. Initially, the market responded positively moving the ticker from below $5 per share to over $10 per share after the approval providing a great opportunity to book some long overdue profit. However, the ticker has retreated to an attractive technical level, yet, it is still trading above my current Buy Threshold. I believe it is time to reassess my IBRX strategy now that Anktiva is on the market, and we should see some revenue recorded in Q2....
ImmunityBio: Anktiva's Launch Demands A Reassessment