ImmunityBio Shares Rose Following Turkish Meeting
The company's stock jumped after founder Patrick Soon-Shiong met with President Recep Tayyip Erdogan.
Updated on Sept. 29, 2026 in Healthcare
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ImmunityBio shares climbed 10 percent on Tuesday after founder Patrick Soon-Shiong met with Turkish President Recep Tayyip Erdogan. The discussion explored plans to establish Turkey as a global hub for cancer treatments using the company's therapies.
Why it matters
Investors viewed the meeting as a significant indicator of ImmunityBio's ongoing international expansion strategy. The company currently holds regulatory approval for its Anktiva drug in 34 countries.
ImmunityBio raised a total of $100 million for growth, including $75 million from Oberland Capital and $25 million via a debt conversion with Nant Capital LLC. The firm also reported a $230.39 million net loss for the second quarter.
The players
Patrick Soon-Shiong
He is the founder of ImmunityBio and a prominent biotechnology entrepreneur and medical researcher.
Recep Tayyip Erdogan
He is the President of Turkey and serves as the country's head of state.
ImmunityBio
It is a clinical-stage biotechnology company focused on developing immunotherapies for cancer and infectious diseases.
Oberland Capital
It is an investment firm that provides non-dilutive financing solutions to companies in the healthcare sector.
Nant Capital LLC
It is an investment vehicle founded by Patrick Soon-Shiong that manages various healthcare and technology interests.
The details
The meeting between Soon-Shiong and Erdogan signals a strategic pivot to leverage international partnerships to boost the reach of the company's pharmaceutical portfolio. ImmunityBio’s market presence is further supported by an increase in institutional interest, with hedge fund holdings reaching $314.9 million across 27 positions.
Timeline
ImmunityBio generated $51.24 million in revenue during Q2 2026.
ImmunityBio stock closed at $9.29 on September 29, 2026.
Market Landscape
The proposed expansion into Turkey follows a pattern set by the rise of regional medical hubs for advanced oncology care, as the company seeks to scale the reach of its proprietary therapeutic platforms. This move intensifies the competitive environment for global market share in immunotherapy.
Shareholders and potential investors may see increased volatility as the company pursues international growth and attempts to offset significant quarterly losses. Patients and medical providers should monitor whether these expansion plans result in wider accessibility for Anktiva.
The takeaway
Securing non-dilutive financing provides the company with a stable runway to pursue large-scale international projects without immediately diluting current shareholders. Investors should track future regulatory progress in target expansion regions to gauge the long-term success of these partnerships.
Further reading
For more on the sector, explore the latest developments in Healthcare.
Source note: This article includes information reported by RocketNews.
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