ImmunityBio Posts Wider Loss, Misses Sales Estimates
The biotech reported a third-quarter adjusted loss of 9 cents per share, missing consensus, as shares fell 25.94% on Monday.
Updated on Nov. 9, 2026 in Biotech
ImmunityBio reported a widened adjusted net loss of $97.9 million for the quarter, up from $72.4 million a year earlier. Sales of $48.84 million rose 52.3% but fell short of the $59.25 million consensus estimate.
Why it matters
The results show the company's losses growing even as ANKTIVA sales expand, with investors reacting to the gap between revenue and expectations. Regulatory progress in Israel and planned U.S. filings could shape the drug's commercial path.
Consolidated cash, cash equivalents and marketable securities totaled $334.3 million at quarter end. Net loss rose to $184.6 million from $67.3 million, driven largely by fair-value changes on a related-party convertible note and warrant liabilities after the stock price increase.
The players
ImmunityBio
A biotechnology company developing ANKTIVA, an immunotherapy approved in 35 countries for bladder cancer.
Rafa Laboratories
An Israeli pharmaceutical company serving as exclusive partner to lead commercialization of ANKTIVA in Israel.
The details
Net loss increased due to a stock price rise during the quarter, higher interest expense on the revenue interest liability, and greater research and development and SG&A spending. Separately, the Israeli Ministry of Health approved ANKTIVA with BCG for BCG-unresponsive non-muscle invasive bladder cancer under an accelerated review pathway, and ANKTIVA reached the primary endpoint in Cohort A of the QUILT-2.005 trial.
Timeline
Third quarter 2026: quarterly results reported with adjusted loss and sales miss.
Monday, November 9, 2026: shares fell 25.94% to $6.395 as Israeli approval and trial results were announced.
Before the end of 2026: ImmunityBio plans to submit a supplemental Biologics License Application to the FDA.
Within the coming weeks: Israeli registration license expected.
Roadmap
The Israeli approval, granted four months after submission under an accelerated review pathway, mirrors the expedited regulatory routes that bladder cancer therapies have used in recent years. ImmunityBio's planned supplemental Biologics License Application to the FDA would test whether that momentum carries into the U.S. market.
Patients with BCG-unresponsive bladder cancer in Israel may gain access to ANKTIVA once registration is complete. Investors face continued volatility as losses widen and the company works toward its next regulatory filings.
The takeaway
Quarterly losses can widen even when revenue grows, so readers tracking biotech stocks should watch both sales trends and the accounting effects of financing instruments. Regulatory milestones in new markets often precede the U.S. filings that matter most for long-term commercial prospects.
What happens next
ImmunityBio plans to submit a supplemental Biologics License Application to the FDA before the end of 2026, and an Israeli registration license is expected within the coming weeks.
Further reading
Explore more Biotech coverage for context on drug approvals and pharmaceutical earnings.
