ImmunityBio (IBRX) Soars 10.8% Ahead of Health Conferences

IBRX -0.64%

We recently published 10 Stocks Racking Up Big Gains. ImmunityBio, Inc. (NASDAQ:IBRX) is one of the top performers of last week.

ImmunityBio rallied for a second day on Friday, soaring 10.80 percent to end at $2.36 apiece, mimicking optimism of the broader market and loading positions ahead of expected updates from its participation in a global health conference next week.

According to ImmunityBio, Inc. (NASDAQ:IBRX), it would participate in the 37th Piper Sandler Annual Healthcare Conference in New York from December 2 to 4.

Investors are expected to closely watch out for the company’s business updates and outlook related to its clinical pipelines.

Earlier this month, ImmunityBio, Inc. (NASDAQ:IBRX) narrowed its net loss attributable to shareholders by 21.6 percent to $67.25 million from $85.73 million in the same period last year, driven by increased product revenues and lower related-party interest expense.

Revenues soared by 425 percent to $32.06 million from $6.1 million year-on-year, thanks to strong sales from its non-muscle-invasive bladder cancer (NMIBC) treatment, Anktiva.

While we acknowledge the potential of IBRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.