ImmunityBio, Inc. (NASDAQ: IBRX) is a biotechnology company focused on developing therapies and vaccines aimed at enhancing the immune system to combat cancers and infectious diseases. The company reported significant growth in its financial performance for the first quarter of 2025.

For the three-month period ending March 31, 2025, ImmunityBio achieved net product revenue of approximately $16.5 million. This figure marks a 129% increase from the $7.2 million reported in the fourth quarter of 2024. The rise in revenue has been attributed to strong sales of its product ANKTIVA®, which saw unit sales volume increase by 150% compared to the previous quarter.

Alongside revenue growth, production and sales momentum have been evident, with March’s unit sales volume increasing by 69% from February. The company is also addressing a shortage in Bacillus Calmette-Guérin (BCG) treatments with its recombinant BCG (rBCG) Expanded Access Program. Nearly 200 urology practices across the U.S. are currently engaging with this program.

The company has experienced a decrease in total expenses. Research and development expenses decreased to $48.2 million in Q1 2025 from $53.3 million in Q1 2024, a difference of $5.1 million. Similarly, selling, general, and administrative expenses were reduced to $32.7 million from $41.9 million, a reduction of $9.2 million.

The net loss attributable to ImmunityBio common stockholders was $129.6 million for Q1 2025, a minor improvement from a net loss of $134.1 million reported in the prior year’s quarter. This reduction in loss reflects improved product revenue along with decreased R&D and SG&A expenses.

As of March 31, 2025, ImmunityBio’s consolidated cash, cash equivalents, and marketable securities totaled $136.4 million, factoring in net proceeds of $74.8 million from an equity financing completed in April.

Total operational costs for the first quarter of 2025 amounted to $80.9 million, which is lower than the $95.2 million recorded in the year-ago quarter. The decrease was primarily driven by reduced costs in R&D, SG&A, and external manufacturing expenses.

Cash used in operating activities for Q1 2025 stood at $85.9 million, down from $106.98 million for the same period last year. The total liabilities as of March 31, 2025, were $894.2 million compared to $871.1 million as of December 31, 2024.

Overall, ImmunityBio’s operational and financial metrics suggest robust growth and stabilization, driven by product commercialization and decreased expenses.