By Owen Tucker-Smith
ImmunityBio shares rose after the company said it planned to submit multiple treatments for FDA commercial approval in 2025.
Shares of the San Diego-based biotechnology company were recently up 16% to $2.77. The stock is down more than 57% over the last six months, and more than 28% over the last year.
The company said Wednesday evening that it would submit a supplemental biologics license application, or BLA, for a treatment that targets a type of bladder cancer. BLAs, if approved by the FDA, allow companies to sell their products across state lines.
The company said it would submit another BLA in 2025 for a treatment of patients with a certain type of lung cancer. The company said that a Phase 2b study had indicated positive results for patients for whom first and second treatment attempts have been unsuccessful when they used the company's Anktiva drug in combination with other inhibitors.
Executive Chairman Patrick Soon-Shiong characterized improved outcomes for these types of lung cancer as an "unmet need." Soon-Shiong also owns the Los Angeles Times.
ImmunityBio also said it will submit a regulatory filing for an alternative source of Bacillus Calmette-Guerin, a drug which treats bladder cancer. The company expects to produce large quantities of BCG in collaboration with the Serum Institute of India, and noted that there is currently a shortage of the drug.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 16, 2025 12:36 ET (17:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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