IBRX Stock Gains Steam: Founder Teases Balance Sheet ‘Strengthening’ And Global Push As Bears Finally Step Back

• Founder Patrick Soon-Shiong signaled balance sheet “strengthening” and a push for global expansion.
• Soon-Shiong had also flagged Europe expansion talks around “immunotherapy 2.0.”
• Momentum has eased over the past week after an FDA warning letter over claims suggesting Anktiva could treat cancers beyond its approved use.

Shares of ImmunityBio, Inc. (IBRX) climbed more than 2% overnight early Tuesday after founder Patrick Soon-Shiong teased balance sheet “strengthening” and global expansion plans, as short sellers stepped back amid strong momentum for Anktiva, its lead immunotherapy.

IBRX stock plunged nearly 10% on Monday, but is on track to post its best quarter in about six years. Shares have surged 237% so far this year, outperforming the SPDR S&P Biotech ETF (XBI), which has dipped nearly 3% over the same period.  

Founder Teases Balance Sheet Strengthening 

Soon-Shiong took to X on Tuesday and said, “Strengthening the balance sheet. Recharging for global expansion. Stay tuned.”

The development comes just a day after Soon-Shiong signaled the company’s European expansion plans, saying he had been invited by a European health minister to discuss advancing “immunotherapy 2.0.” The effort is part of a broader push to expand natural killer cell- and CD8 T-cell-based therapies, which are immune treatments that activate the body’s virus- and cancer-fighting cells, alongside Anktiva’s global rollout.

Short Bets Retreat From Highs

Meanwhile, short interest in IBRX has been steadily declining from record highs hit in mid-February, as sentiment improved following regulatory approvals and continued expansion of Anktiva across new indications and geographies.

Short positioning rose to 13.7% of the free float between Feb.13 and Feb.19, according to Koyfin data, as investors awaited a final decision from the European Commission on approval of the therapy for BCG-unresponsive non-muscle invasive bladder cancer carcinoma in situ with or without papillary tumors.

The uncertainty eased later in February after the European Commission granted conditional marketing authorization across 27 European Union member states plus Iceland, Liechtenstein and Norway, expanding Anktiva’s reach to 33 countries globally, including the U.S.

Short interest declined to 13.1% by Feb. 27, marking its first drop since October 2025, and has since eased further to around 12.9%. The drop followed a slew of developments supporting the therapy’s outlook beyond its initial bladder cancer indication. These include the launch of a Phase 2 study evaluating Anktiva in long COVID, expansion into programs across non-small cell lung cancer, pancreatic cancer, colorectal cancer and glioblastoma, and new trials in severe pneumonia, sepsis and acute respiratory distress syndrome.

Momentum was also supported by NCCN guideline inclusion for papillary bladder cancer that no longer responds to standard BCG therapy, the company’s resubmission seeking label expansion into papillary disease, and preparations for a Saudi Arabia launch following approvals covering bladder cancer and metastatic non-small cell lung cancer.

FDA Warning Weighs On Shares

The improving sentiment follows a sharp selloff over the past week after the U.S. Food and Drug Administration (FDA) issued a warning letter to ImmunityBio and Soon-Shiong, citing false and misleading promotional claims about Anktiva.

The agency objected to statements in a television advertisement and a podcast appearance suggesting the therapy could treat cancers beyond its approved bladder cancer indication, including claims that it “can treat all cancers.” The FDA said the representations implied uses not supported by the drug’s labeling and requested corrective action within 15 working days.

The warning came after regulators had refused to review the company’s application seeking broader label expansion, prompting ImmunityBio to resubmit it earlier this month.

How Do Stocktwits Users Feel About IBRX?

On Stocktwits, retail sentiment slipped to ‘bearish’ from ‘bullish’ levels a day ago amid over a 400% surge in message volumes over the past 24 hours.

One user said Soon-Shiong could strengthen the balance sheet by boosting assets or reducing liabilities. They added that with 650 million shares and voting control, a buyout near $20 billion could cost about $7 billion, calling the idea “genius,” and said “there are a lot of players who would want a large piece of this like Elon or the Saudi’s.”

Another user said, “I’m guessing it will be $200-250 million dollars, otherwise it wouldn’t really do much strengthening. That post is annoyingly cryptic, although I think he meant it as a comfort to long shareholders and a discomfort for shorts.”

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