MRK - ImmunityBio: FDA Approval Gets Ball Rolling Towards Next Set Of Indications

2024-04-23 12:40:36 ET

Summary

• FDA approved ImmunityBio, Inc.'s ANKTIVA for the treatment of patients with BCG-unresponsive non-muscle invasive bladder cancer with carcinoma in situ, with or without papillary tumors.
• The global bladder cancer market could reach $11.5 billion by 2032.
• Company also tends to evaluate the use of ANKTIVA towards other cancer indications such as acute myeloid leukemia and platinum-resistant ovarian cancer.
• A $100 million payment based on a royalty agreement was contingent upon receiving FDA approval of ANKTIVA for the treatment of patients with BCG-unresponsive NMIBC.

ImmunityBio, Inc. ( IBRX ) was able to receive FDA approval of its drug ANKTIVA plus Bacillus Calmette-Guerin [BCG] for the treatment of patients with BCG-unresponsive non-muscle invasive bladder cancer [NMIBC] with carcinoma in situ [CIS], with or without papillary tumors. This FDA approval transitions this company to a commercial biotech, and it will be able to start generating revenue. Not only that, but a big reason why this FDA approval of ANKTIVA was huge is because of the cash it was able to receive because of it. That is, its ability to receive an additional $100 million of the total $320 million royalty financing and equity investment that was contingent upon receiving FDA approval of this drug for the treatment of this patient population....

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