ImmunityBio, Inc. (NASDAQ:IBRX) shares are trading higher Friday after the company announced overall survival results in its QUILT 3.055 study.
The Details:
ImmunityBio said the QUILT 3.055 trial shows median overall survival almost double that of standard of care chemotherapy in 2nd- and 3rd-line non-small cell lung cancer (NSCLC) patients whose cancer did not respond to checkpoint inhibitors with or without chemotherapy.
"The results we noted with the completion of the QUILT 3.055 basket trial across multiple tumor types in patients with late-stage cancers for whom standard of care plus checkpoints failed, validates our hypothesis that orchestration of NK cells with killer T cells and memory T cells could result in meaningful clinical improvements to current standards of care," said Patrick Soon-Shiong, M.D., CSO of ImmunityBio.
The FDA approved the company's Anktiva plus Bacillus Calmette-Guérin (BCG) for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) on Monday.
ImmunityBio shares are moving on heavy trading volume Friday. According to data from Benzinga Pro, more than 26.6 million shares have been traded in the session, compared to the stock's 100-day average of 4.774 million shares.
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How To Buy IBRX Stock:
By now you're likely curious about how to participate in the market for ImmunityBio – be it to purchase shares, or even attempt to bet against the company.
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If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
IBRX Price Action: According to Benzinga Pro, ImmunityBio shares are up 48% at $7.56 at the time of publication Friday.
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