Why ImmunityBio Stock Is Trading Higher Thursday

ImmunityBio, Inc. IBRX shares are moving higher Thursday after the company announced insurance coverage of ANKTIVA across multiple states.

The Details: ANKTIVA is a immunotherapy used to treat non-muscle invasive bladder cancer that was unresponsive to other specific treatments.

The immunotherapy received FDA approval less than two months ago and the first doses of ANKTIVA have now been administered to patients located across the United States.

“In addition to its unique mechanism of action, ANKTIVA can be readily administered by urologists in their own offices and clinics enabling more patients to receive it in familiar settings from their own providers,” said Richard Adcock, CEO of ImmunityBio.

FDA approval was based on a clinical trial involving 77 patients with a complete response rate of 62%.

Related Link: 19 Analysts Have This To Say About Sage Therapeutics

IBRX Price Action: ImmunityBio stock is trading 8.11% higher at $6.73, according to data from Benzinga Pro.

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