Company Overview
ImmunityBio, Inc. operates within the healthcare sector specifically as a biotechnology firm dedicated to innovating, developing, and commercializing next-generation immunotherapies designed to activate the patient's immune system for durable protection against cancer and infectious diseases. The company focuses on platforms for the development of biologic products intended to deliver these advanced therapeutic solutions. As of the latest reporting period, the company holds a market capitalization of $9.07B and generates annual revenue of $113.29M. The organization employs a workforce of 684 individuals to execute its research and commercialization strategies. The market cap of $9.07B combined with the revenue figure of $113.29M indicates that the market has assigned a significant valuation to the company, reflecting high expectations for future commercial success despite current profitability challenges. This scale suggests the entity is a major player in its specific niche within the broader biotechnology industry, utilizing substantial resources to advance its immunotherapy pipelines.
Financial Health
The company reported revenue of $113.29M for the trailing twelve months, yet recorded a net income of $-351,398,016 and an EBITDA of $-240,602,000. The substantial gap between the positive revenue of $113.29M and the large negative net income reveals a cost structure where operating expenses and research expenditures significantly exceed current earnings potential. The free cash flow stands at $-213,356,992, which indicates that the company is currently burning cash and relies on external capital sources to fund its operations and development activities rather than generating internal liquidity. In terms of profitability margins, the gross margin is reported at 99.3%, suggesting high efficiency in the cost of goods sold relative to revenue, while the operating margin is -169.0% and the profit margin is 0.0%, highlighting severe operational losses that outweigh gross profits. The balance sheet shows cash holdings of $242.82M against total debt of $844.72M, creating a situation where debt obligations exceed available liquid assets. Although the debt-to-equity ratio is listed as N/A, the comparison of cash versus debt demonstrates a highly leveraged position where liabilities exceed cash reserves. The current ratio is 5.10, indicating that the company possesses 5.10 dollars of current assets for every 1 dollar of current liabilities, which points to strong short-term liquidity despite the overall debt burden. Return on Equity is N/A due to the equity structure, while Return on Assets is -36.2%, revealing that the company's assets are generating negative returns relative to the capital invested.
Valuation Assessment
The P/E Ratio (TTM) is N/A because the company is unprofitable, while the forward P/E is -441.00, implying that the market is pricing in future earnings that are expected to be negative or that current valuation models rely on alternative metrics. The price-to-book ratio is -17.82, which indicates a market valuation that is negative relative to the company's book value, a common characteristic for biotechnology firms with significant intangible assets and development costs not fully captured on the balance sheet. The price-to-sales ratio is 80.04, and the EV/EBITDA is -40.19, suggesting that valuation is being driven by growth expectations and potential future milestones rather than current earnings multiples or book value multiples. The 52-week high is $12.43 and the 52-week low is $1.83, placing the stock's recent trading activity within a wide range of volatility typical for high-growth biotech equities. The beta value is -0.08, which is an anomalous negative figure indicating that the stock price has historically moved in a direction opposite to the broader market or that the statistical correlation over the measurement period resulted in a negative coefficient. This metric suggests that the stock's price volatility is not positively correlated with general market movements, potentially offering a unique risk profile compared to standard market benchmarks.
Growth & Income
The revenue growth year-over-year is 407.0%, while earnings growth is N/A due to the company's current lack of profitability. The absence of earnings growth data alongside massive revenue expansion implies that the company is prioritizing top-line expansion and R&D investment over immediate profit generation, which is a standard strategy for early-stage to mid-stage biotechnology companies. As the company does not pay dividends, the dividend yield is N/A and the payout ratio is 0.0%, meaning the firm reinvests all available cash flow and generated earnings back into research, development, and commercialization efforts rather than distributing income to shareholders. This reinvestment strategy is essential for funding the clinical trials and regulatory processes required to bring new immunotherapies to market. The overall growth and income profile is characterized by explosive revenue expansion coupled with significant cash burn and no current income distribution, reflecting a high-risk, high-reward investment thesis centered on future product approvals.