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Dec 31, 2024
ImmunityBio Q4 2024 Earnings Report
ImmunityBio reported its Q4 2024 financial results, showing increased product revenue and reduced net loss compared to the prior year.
Key Takeaways
ImmunityBio achieved net product revenue of approximately $7.2 million in Q4 2024, a 21% increase quarter-over-quarter. The company's net loss attributable to common stockholders significantly decreased to $59.2 million from $233.4 million in Q4 2023, primarily due to product revenue and fair value changes in convertible notes and warrant liabilities.
Product revenue, net, increased by $7.2 million in Q4 2024 compared to Q4 2023, driven by ANKTIVA sales.
Research and development expenses decreased by $16.3 million in Q4 2024, primarily due to lower research agreement expenses and manufacturing activities.
Selling, general and administrative expenses increased by $8.6 million in Q4 2024, mainly due to post-commercialization activities and a litigation settlement.
Net loss attributable to common stockholders significantly reduced to $59.2 million in Q4 2024 from $233.4 million in Q4 2023.
ImmunityBio
ImmunityBio
ImmunityBio Revenue by Segment
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CapyFin.comOther revenues Revenue
CapyFin.com Forward Guidance
ImmunityBio anticipates continued sales momentum for ANKTIVA following the permanent J-code issuance and expects to address the BCG shortage with expanded access to recombinant BCG. The company also plans for global marketing submissions and further clinical developments.
Positive Outlook
- Permanent J-code (J9028) for ANKTIVA is expected to drive continued sales momentum.
- FDA authorization of expanded access to an alternative source of BCG is expected to address the BCG shortage with over 45,000 doses available.
- Over 60 sites are being activated to receive recombinant BCG under the Expanded Access Program.
- Global marketing authorization applications for ANKTIVA have been accepted for review by MHRA and EMA.
- RMAT designation for ANKTIVA and CAR-NK is expected to expedite development and review of promising therapeutic candidates.
Challenges Ahead
- Risks and uncertainties regarding commercial launch execution, success, and timing.
- Risks and uncertainties related to the regulatory submission, filing, and review process.
- Potential delays in product availability and regulatory approvals.
- Risks associated with third-party collaborations and agreements.
- Potential product shortages or manufacturing disruptions that may impact product availability and timing.
Revenue & Expenses
Visualization of income flow from segment revenue to net income