ImmunityBio (IBRX) Rallies 15% as Firm Raises $100M For Global Expansion

ImmunityBio Inc. (NASDAQ:IBRX) is one of the 10 Stocks Dominating Today’s Market Surge.

ImmunityBio soared by 15.17 percent on Tuesday to finish at $7.67 apiece, as investor sentiment was boosted by its successful raising of $100 million in fresh funds to support its global expansion.

In a statement on the same day, ImmunityBio Inc. (NASDAQ:IBRX) said that it secured a $75 million, non-dilutive financing from Oberland Capital under the existing $375 million Royalty Interest Purchase Agreement.

“This additional non-dilutive financing gives us the capacity to continue scaling our commercial efforts and expanding globally following recent Anktiva approvals, while positioning us to take full advantage of the growth opportunities ahead,” ImmunityBio Inc. (NASDAQ:IBRX) President and CEO Richard Adcock said.

ImmunityBio (IBRX) Rallies 15% as Firm Raises $100M For Global Expansion

“The strengthening of the company’s balance sheet through non-dilutive financing from Oberland, combined with the Founder’s reduction of debt, supports our global expansion following recent approvals and the advancement of our immunotherapy pipeline,” he added.

Simultaneously, Nant Capital, LLC—a company affiliated with ImmunityBio Inc. (NASDAQ:IBRX) Chairman Patrick Soon-Shiong, converted $25 million of debt into 4.6 million shares, slashing its $505 million debt under a December 2024 promissory note.

Earlier this month, ImmunityBio Inc. (NASDAQ:IBRX) announced its future expansion into Macau following the special administrative region’s green light for the sale of Anktiva in the said area.

Macau marks the 34th country where Anktiva would be commercially available, having also secured the approval of the US, the UK, Europe, and Saudi Arabia.

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