ImmunityBio, Inc. (NASDAQ: IBRX) has secured $75 million in equity financing through a registered direct offering with a single institutional investor, the immunotherapy company announced on April 8, 2025. The transaction includes warrants for additional shares that could generate up to $90 million in further proceeds if fully exercised.
The Culver City, California-based company intends to use the funds to provide working capital and support its ongoing business operations, including the advancement of its immunotherapy and cell therapy platforms.
Financing Details
The securities purchase agreement provides for the issuance of common stock along with warrants for the purchase of additional shares. The transaction is expected to close shortly, subject to customary closing conditions. The securities are being offered under ImmunityBio's automatic shelf registration statement on Form S-3 (Registration No. 333-278770).
"This financing strengthens our balance sheet and provides us with additional resources to advance our pipeline of immunotherapies," said an ImmunityBio representative. The company did not disclose the identity of the institutional investor participating in the offering.
Company's Therapeutic Focus
ImmunityBio is known for its vertically-integrated approach to developing next-generation therapies and vaccines that enhance the natural immune system to combat cancers and infectious diseases. The company's flagship product, ANKTIVA, received FDA Breakthrough Therapy designation and is the first FDA-approved immunotherapy for non-muscle invasive bladder cancer carcinoma in situ (CIS).
ANKTIVA works by activating natural killer cells, T cells, and memory T cells to create a long-duration immune response. This approach represents a significant advancement in the treatment landscape for bladder cancer patients.
Strategic Direction
The company is applying its scientific platforms to treat various cancers, including the development of potential cancer vaccines. ImmunityBio's technologies aim to reduce or eliminate the need for standard high-dose chemotherapy, potentially offering more effective, accessible, and easily administered alternatives to current standards of care in oncology and infectious diseases.
Dr. Hemanth Ramaprakash, who handles investor relations for ImmunityBio, has been designated as the contact for questions regarding this financing.
Market Context
This financing comes at a time when biotech companies are navigating a challenging funding environment. For ImmunityBio, the capital infusion provides operational runway while it continues to develop and commercialize its immunotherapy portfolio.
The company's approach of combining multiple immune-stimulating agents in a single platform differentiates it from competitors who typically focus on singular mechanisms of action. This integrated strategy targets the adaptive immune system (T cells), the innate immune system (natural killer cells), and tumor microenvironments simultaneously.
Regulatory and Clinical Outlook
With ANKTIVA already approved for bladder cancer, ImmunityBio is working to expand its therapeutic applications. The company's clinical pipeline includes studies in multiple cancer types, including pancreatic cancer, lung cancer, and triple-negative breast cancer.
The additional funding is expected to accelerate these clinical programs and support potential regulatory submissions for expanded indications of its immunotherapy platforms.
