ImmunityBio reported third-quarter 2026 net product revenue of $48.7 million, an increase of 53% year over year, as adoption of ANKTIVA expanded among U.S. urologists. Net product revenue for the first nine months reached $143.6 million, up 92% and above the $113 million generated during all of 2025.
The company ended September with $334.3 million in cash, cash equivalents, and marketable securities. Research and development expense increased to $71.5 million from $51.2 million, while selling, general, and administrative expense rose to $54 million from $36.3 million as commercial and clinical activity expanded.
The net loss attributable to common shareholders widened to $184.6 million from $67.3 million. The increase primarily reflected noncash fair-value changes involving a related-party convertible note and warrant and derivative liabilities, along with higher interest, research, and commercial expenses. Adjusted net loss was $97.9 million, compared with $72.4 million.
ImmunityBio expanded the U.S. label for ANKTIVA in combination with BCG to include adults with BCG-unresponsive nonmuscle invasive bladder cancer involving papillary-only tumors. The therapy is approved or authorized across six regulatory jurisdictions covering 35 countries. The company also began European commercial treatment and reported positive progress in BCG-naïve disease.
Revenue growth and broader regulatory access strengthen the commercial opportunity, but the company continues to spend heavily on trials, commercialization, and financing. Its outlook depends on physician adoption, additional approvals, reimbursement, clinical execution, and access to capital. The expanded label and international launches create new potential demand, while the larger GAAP and adjusted losses show that continued growth will need to offset a substantial expense base.
KEY QUOTE:
“The recent label expansion represents an important opportunity to broaden access to ANKTIVA for a significantly larger patient population.”
Richard Adcock, President and Chief Executive Officer of ImmunityBio
