ImmunityBio (IBRX +12.99%), a purveyor of hopes packaged as immunotherapies, briefly touched $9.83 yesterday. A surge, they call it. A tremor, more like, in a market built on shifting sands. The reports speak of 700% revenue growth for their ‘Anktiva’ – a number designed to dazzle, not to inform. Losses are ‘narrowing,’ they say. As if a shrinking debt is a victory for anyone but the accountants.
Eighty-five million shares traded hands. A frenzy, fuelled by whispers and speculation. The same speculation that has lifted and dashed countless ventures before it. This company, born in 2015, has already shed 72% of its initial promise. A grim reminder that the market remembers little, and forgives less.
The Weight of Numbers
The broader market, of course, barely noticed this fleeting bloom. The S&P 500 dipped 1.01% to 6,840, and the Nasdaq Composite followed suit, falling 1.13% to 22,627. The numbers march on, indifferent to the fortunes of any single enterprise. Iovance Biotherapeutics and Krystal Biotech, fellow travelers in this uncertain realm, showed modest gains. A ripple in the pond, hardly a wave.
For Whom Does Anktiva Bloom?
Anktiva, it seems, is enjoying some success against bladder cancer, a cruel disease that cares little for stock prices. Approvals have been granted across a scattering of nations – the U.S., the E.U., Saudi Arabia, and a handful of others. A global reach, they boast. But reach does not equate to relief. Nor does it guarantee a future.
Now, they’ve found a new application for Anktiva – lung cancer in Saudi Arabia. A widening net, cast in the hope of catching more revenue. Clinical trials are underway for glioblastoma, sepsis, lymphoma, lymphopenia… a litany of suffering, each a potential market. The pipeline expands, promising salvation to some, and profit to others.
The stock has quintupled this year, they say with a touch of breathless wonder. A remarkable feat, certainly. But a dangerous height. A measured approach is advised, not for the sake of caution, but for the sake of those who will inevitably bear the cost when the inevitable correction arrives. The market giveth, and the market taketh away. And it rarely remembers the names of those it crushes.
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2026-02-24 00:53