ImmunityBio (IBRX) Rockets on 12th Day, Hits Fresh High

We recently published 10 Stocks Breaking Records While Wall Street Bleeds. ImmunityBio Inc. (NASDAQ:IBRX) was one of the top performers on Tuesday.

ImmunityBio saw its share prices rally for a 12th consecutive day on Tuesday, reaching a fresh 52-week high, as investors took heart from developments in its supplemental biologics license application (BLA) for Anktiva combined with Bacillus Calmette-Guérin (BCG) in patients with BCG-unresponsive non-muscle invasive bladder cancer.

At intra-day trading, ImmunityBio Inc. (NASDAQ:IBRX) surged to a new record high of $7.98 before trimming gains to finish the day just up by 17.39 percent at $6.48 apiece.

Anktiva. Photo from ImmunityBio website

In a statement on the same day, the company said that it sat down recently with the Food and Drug Administration to discuss the supplemental BLA, saying that it was told to submit additional information to support its resubmission. The information would be submitted within the next 30 days without the anticipation of a new clinical trial.

According to ImmunityBio Inc. (NASDAQ:IBRX), Anktiva, in combination with BCG, showed strong results, after registering disease-specific survival of approximately 96 percent at 36 months, with the median survival not yet reached even with five years of follow-up.

In other news, ImmunityBio Inc. (NASDAQ:IBRX) announced that it is set to begin selling Anktiva, in combination with an immune checkpoint inhibitor, for lung cancer patients in Saudi Arabia after securing the latter’s FDA approval. Lung cancer is one of the most prevalent cancer types in Saudi.

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