ImmunityBio's Anktiva Shows Blockbuster Potential as Piper Sandler Eyes Label Expansion After QUILT Trial Data
ImmunityBio, Inc. (NASDAQ: IBRX) is attracting renewed Wall Street attention following robust interim clinical data and explosive commercial growth for its flagship immunotherapy, Anktiva. Investment firm Piper Sandler recently increased its price target on the biotech stock to $7 from $5, maintaining an Overweight rating, as analysts see a clear path for the drug beyond its current bladder cancer indication.
The optimism stems from two key developments. First, U.S. net sales for Anktiva skyrocketed by nearly 700% year-over-year to approximately $113 million, with projections pointing to $180 million in revenue for 2026. More critically, the firm highlighted encouraging interim results from the QUILT-2.005 study. Positive final data, expected in the fourth quarter of 2026, could lay the groundwork for a significant label expansion into additional cancer types as early as 2027.
Separately, the company released Phase 2 results from its QUILT-3.078 trial in recurrent glioblastoma (GBM), an aggressive brain cancer. The data showed a promising signal: 19 of 23 patients remain alive, with the longest survival reaching 12 months and the median overall survival not yet reached. The regimen demonstrated a manageable safety profile and preserved patients' immune function—a notable advantage over some harsh chemotherapies.
"This isn't just a one-trick pony," said Dr. Evelyn Reed, an oncologist at Midwest Cancer Center. "The sales trajectory for its approved use is impressive, but the real value driver is the platform's potential across multiple solid tumors. The GBM data, while early, provides a compelling proof-of-concept."
However, not all observers are convinced. Mark Torrence, a portfolio manager focused on healthcare, offered a more skeptical take: "Let's pump the brakes. A 700% increase on a small base is marketing math. The GBM survival data is intriguing but from a tiny cohort. Until we see robust Phase 3 data for a new indication, this is still a high-risk, binary bet on data readouts years away."
Sarah Chen, a biotech retail investor, reflected a common sentiment among individual shareholders: "As a patient advocate, I'm thrilled to see survival signals in GBM. As an investor, the sales growth gives me confidence the company can fund its own pipeline. It feels less like a pre-revenue gamble now."
ImmunityBio is developing a suite of therapies designed to harness and enhance the body's innate immune system to combat cancers and infectious diseases. The recent updates suggest its lead asset is gaining commercial traction while its clinical pipeline advances, potentially de-risking the long-term investment thesis.