ImmunityBio Taps 85-Person Sales Team to Launch Its Bladder Cancer Drug In European Countries

ImmunityBio Inc. (NASDAQ:IBRX) shares are down during Friday’s premarket session. However, there is no news to justify the move.

The stock’s decline comes as broader markets experienced a slight downturn, with the Nasdaq falling 0.17% on the previous trading day.

Distribution Pact

On Thursday, ImmunityBio announced that it has expanded access to its product Anktiva in the EU through a new distribution partnership with Accord Healthcare, which is expected to enhance its market presence.

On Wednesday, the European Commission authorized the drug indicated in combination with Bacillus Calmette-Guérin (BCG) for eligible patients with BCG-unresponsive non-muscle invasive bladder cancer carcinoma in situ, with or without papillary disease.

As part of the partnership, Accord Healthcare will utilize over 100 sales, medical, and marketing professionals to drive the commercialization of Anktiva in the UK, European Union, as well as European Free Trade Association members Iceland, Liechtenstein, and Norway.

ImmunityBio also established an Irish subsidiary in Dublin to support the company’s distribution and commercialization strategy throughout Europe.

ImmunityBio partner Accord Healthcare to deploy an 85-person sales force to drive Anktiva commercialization across 30 countries.

Meanwhile, the broader market experienced a slight pullback on the previous trading day, with the S&P 500 declining 0.16%. This market movement may indicate that ImmunityBio’s stock is reacting to broader investor sentiment rather than solely to company-specific news.

Technical Analysis

The stock is currently trading 9.2% below its 20-day simple moving average (SMA) and 12.5% below its 100-day SMA, indicating a bearish trend in the short to medium term. Shares have decreased approximately 5.6% over the past 12 months and are currently positioned closer to their 52-week lows than highs.

The RSI is at 50.00, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, MACD is at -0.02, below its signal line at 0.03, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that traders should be cautious.

• Key Resistance: $9.00
• Key Support: $8.00

The countdown is on: ImmunityBio is set to report earnings on Mar. 6.

• EPS Estimate: Loss of 9 cents (Up from Loss of 9 cents)
• Revenue Estimate: $37.51 million (Up from $7.55 million)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $11.80. Recent analyst moves include:

• D. Boral Capital: Buy (Maintains Target to $24.00) (Feb. 19)
• HC Wainwright & Co.: Buy (Raises Target to $10.00) (Jan. 26)

IBRX Price Action: ImmunityBio shares were down 2.75% at $8.37 during premarket trading on Friday. The stock is approaching its 52-week high of $8.94.

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