We recently compiled a list of the Top 10 AI-Powered Biotech Stocks to Buy Right Now. ImmunityBio, Inc. is one of the best biotech stocks on our list.
TheFly reported on April 21 that ImmunityBio, Inc. (NASDAQ:IBRX) announced that its immunotherapy ANKTIVA has begun commercial availability in Saudi Arabia, with initial patients already identified for treatment. The therapy is being used in approved indications, including bladder cancer, in combination with Bacillus Calmette-Guérin for adults with BCG-unresponsive non-muscle invasive disease, as well as in metastatic non-small cell lung cancer when combined with an immune checkpoint inhibitor.
Both uses have been authorized by the Saudi Food and Drug Authority. Distribution in the region is being handled through partnerships with Biopharma and Cigalah Healthcare, supported by the company’s local Saudi subsidiary. The launch marks an expansion of access to ANKTIVA across the Middle East, advancing its presence in oncology care settings.
Separately, earlier on March 31, IBRX announced it had strengthened its financial position by securing $75 million in non-dilutive funding through an amended royalty interest agreement with Oberland Capital, increasing total committed capital under the arrangement to $375 million.
The updated structure keeps existing terms largely intact while slightly adjusting the royalty repayment rate, while preserving the overall cap. In a related transaction, $25 million of principal was converted by Nant Capital, an affiliated entity, resulting in the issuance of approximately 4.6 million shares and a reduction in outstanding debt under a prior promissory note.
ImmunityBio, Inc. is a San Diego-based, AI-driven biotechnology company developing next-generation immunotherapies for cancer and infectious diseases. It uses advanced platforms and cell therapies to activate the immune system, with FDA-approved Anktiva marking its transition into a commercial-stage biotech firm.
READ NEXT: 9 Most Undervalued Healthcare Stocks to Buy Now and 10 Most Undervalued Dow Stocks to Buy Now.
Hedge Fund Resource Center