Overview

• U.S. biotechnology firm's Q1 net product revenue rose 168% yr/yr to $44 mln

• Company ended Q1 with $381 mln in cash and marketable securities, up from Q4

• Q1 net loss widened, mainly due to non-cash liability changes and higher costs

Outlook

• Company anticipates additional commercial launches of ANKTIVA in new markets in 2026

Result Drivers

• ANKTIVA SALES GROWTH - Co said Q1 revenue growth was driven by a 168% increase in ANKTIVA unit sales and ongoing commercial activities

• EXPANDED MARKET ACCESS - ANKTIVA became available in additional international markets, including Saudi Arabia and Macau, supporting revenue growth

Company press release: ID:nBw17mD7la

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$632.80 mln
Q1 Operating Income		-$69.79 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Immunitybio Inc is $13.00, about 55.1% above its May 6 closing price of $8.38

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