Positive Developments from Saudi Arabia: ImmunityBio Gains Momentum with 400 Billion Won Deficit

ImmunityBio, Inc. (NASDAQ: IBRX) shares surged 6.91% to close at $3.02 on the Nasdaq on the 13th. In a single session, its market capitalization rose by roughly $220 million (over KRW 300 billion), lifting total market value to about $2.97 billion (around KRW 4 trillion). Trading volume topped 32 million shares, signaling unusually high activity.

On the 14th, ImmunityBio announced that the Saudi Food and Drug Authority granted accelerated approval for its immuno-oncology drug ANKTIVA in bladder and lung cancers. This approval secures the company’s official entry into the Middle East market, following prior authorizations in the U.S., U.K. and Europe.

The previous day, the company reported positive results from a non-small cell lung cancer trial, demonstrating preservation of immune cells and extended survival—further underscoring the value of its pipeline. ImmunityBio also recently received a favorable opinion from the European Medicines Agency for ANKTIVA as a treatment for non–muscle-invasive bladder cancer, expanding its global regulatory footprint.

Since late last year, the company has raised several hundred billion Korean won through public offerings and in-market share sale agreements to fund commercialization and additional clinical studies. It is simultaneously executing capital-expansion strategies, including an amendment to an open-market share sale agreement with Jefferies, as detailed in a recent SEC filing.