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Thursday, February 2, 2023

ImmunityBio Inc. (IBRX) Stock Exhibits Volatility Despite Continued Development of QUILT Study

ImmunityBio Inc. (IBRX) stock prices were down by 9.36% as of the market closing on September 24th, 2021. This brought the price per share down to USD$10.26 at the end of the trading day. Subsequent aftermarket fluctuations have seen the stock rise by 9.75%, bringing it up to USD$11.26.

IBRX Stock’s QUILT Study

September 13th, 2021 saw IBRX stock announce updated data from its ongoing bladder cancer trial. The results showed sustained complete response rates in patients with BCG-unresponsive non-muscle invasive carcinoma in situ (CIS) bladder cancer (Cohort A). The 3.032 QUILT study enrolled 81 patients and, of these patients, 58 patients (72%) exhibited a complete response (CR) at any time (three or six months). The response recorded was to the administration of intravesical BCG plus N-803 (Anktiva) with median duration of CR of 19.9 months.

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Efficacy of QUILT Study

The reported data also indicated a 59% probability that responding patients would maintain a complete response for more than 12 months, based on Kaplan-Meier analysis. These results are associated with a 95% confidence interval; 43.1% and 71.2%. Patients who exhibited a complete response within the first three months of the treatment reported a CR rate of 77%. This is in conjunction with a 61% probability of remaining disease free at 18 months. The median duration of complete response had not yet been reached in that group. 85% of patients in the cohort avoided a cystectomy with a median duration of follow-up of 20.4 months.

Stellar Safety Profile

Notably, the therapy reported 0% treatment-related serious adverse events, indicated stellar tolerance of the treatment by patients. This tolerance was further consolidated by 0% immune-related adverse events and 0% grade 4 or 5 treatment-related adverse events. Contrastingly, the currently approved checkpoint therapy for the indication has been associated with an incidence rate of 21% for immune-related adverse events.

Scope of IBRX Stock’s Treatment

Bladder cancer is prevalent across the globe, with 2020 seeing roughly 573,278 new cases being diagnosed. The year also reported 212,536 deaths from the disease. In the United States, bladder cancer comes in as the fourth most commonly diagnosed solid malignancy in men and the twelfth for women. The American Cancer Society had estimated 81,400 new cases and 17,980 deaths.

Future Outlook for IBRX Stock

The company has benefitted from the success of its ongoing bladder cancer study, especially in light of the unfortunately massive scope of the disease. IBRX stock is poised to capitalize on this opportunity and address the burgeoning healthcare market. Current and potential investors are confident in the company’s ability to effectively allocate the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value over the long term.

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