ImmunityBio Soars 56% in a Day: Is This Cancer Breakthrough the Next $30 Stock?
In This Article:
ImmunityBio (NASDAQ:IBRX) surged 56% today to hit $6.57, fueled by the excitement around its latest Phase 1 trial launch for CD19 t-haNK cell therapy in South Africa. The QUILT 106 study is a bold moveImmunityBio's first natural killer cell-based trial in the regionaiming to enroll up to 100 patients by early 2025. Targeting non-Hodgkin lymphoma, the trial will test the therapy both as a standalone and alongside rituximab, positioning the company to deliver cutting-edge cancer treatments to a market often overlooked in advanced research.
This jump in share price reflects growing confidence in ImmunityBio's game plan: leveraging CAR-NK technology to address gaps where existing therapies struggle. By taking the fight to liquid tumors with this novel approach, the company aims to generate critical data by the second half of 2025 that could reshape how cancer is treated. ImmunityBio's executive chairman, Patrick Soon-Shiong, emphasized the trial's significance in tackling the unmet medical needs in Sub-Saharan Africa, potentially setting a precedent for future research in underserved areas.
EF Hutton's $30 price target now feels within reach, signaling a potential 357% gain from today's level. With the company expanding its pipeline and momentum building, ImmunityBio is positioning itself as a disruptor in the cancer therapy spaceand investors are betting big on its ability to deliver both breakthroughs and substantial returns.
This article first appeared on GuruFocus.