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ImmunityBio (IBRX) Clinical Trial for Lymphona Drug Follows $505M Convertible Note Change

ImmunityBio Inc. (NASDAQ:IBRX) is one of the 13 hot stocks to buy with the highest upside potential. On February 2, ImmunityBio Inc. (NASDAQ:IBRX) announced that it has initiated a Phase 2 clinical trial evaluating a novel combination immunotherapy for patients with indolent B-cell non-Hodgkin lymphoma (iNHL).

Meanwhile, on January 26, ImmunityBio Inc. (NASDAQ:IBRX) amended a $505 million convertible promissory note with Nant Capital LLC, allowing the noteholder to convert any portion of the outstanding principal into fully paid and nonassessable shares of ImmunityBio’s common stock at any time before the note’s maturity date.

On the same day, H.C. Wainwright raised its price target on ImmunityBio Inc. (NASDAQ:IBRX) to $10 from $8, while maintaining a Buy rating. H.C. Wainwright also observed that while ImmunityBio has not been profitable over the last twelve months, the company’s financial position shows liquid assets exceeding short-term obligations with a current ratio of 5.77, as well as a moderate level of debt.

Photo by National Cancer Institute on Unsplash

ImmunityBio, Inc. is a clinical-stage immunotherapy company developing next-generation therapies that drive immunogenic mechanisms to defeat cancers and infectious diseases.

While we acknowledge the risk and potential of IBRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IBRX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 11 Best Stocks Under $3 to Buy Right Now and  10 Best High-Upside Materials Stocks to Buy

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

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In fact, Verge argues this company’s supercheap AI technology should concern rivals.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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