Shares of ImmunityBio Inc. (IBRX) are moving higher Thursday after the company dropped some seriously impressive numbers from a key cancer trial. It's one of those moments where the data is so good, you almost have to read it twice.

The company has completed enrollment ahead of schedule in its pivotal randomized trial, called QUILT 2.005. They're testing their drug, Anktiva, in combination with the standard treatment Bacillus Calmette-Guérin (BCG) against BCG alone for non-muscle invasive bladder cancer. The interim results are what's turning heads.

Here's the headline number: 85% of patients receiving the Anktiva-plus-BCG combo maintained a complete response at the six-month mark. For patients getting BCG alone, that number was 57%. That's not just a modest improvement; that's a dramatic leap in efficacy. The benefit held strong at nine months too, with 84% of the combo group maintaining a complete response versus 52% for BCG alone.

Based on this, ImmunityBio is planning its big move: submitting a biologics license application (BLA) to the FDA by the fourth quarter of 2026. It's a long runway, but in biotech, data this compelling is what builds the runway in the first place.

Commercial Momentum Is Already Building

While the trial news is forward-looking, the commercial story for Anktiva is happening right now. The drug is already approved in 33 countries for this type of bladder cancer, and sales are exploding.

The company recently reported a jaw-dropping year-over-year revenue increase, jumping from $7.56 million to $38.29 million, which even beat analyst expectations. The driver? A 750% increase in Anktiva unit sales volume. That's the kind of growth that makes you sit up and take notice, suggesting doctors are already embracing this therapy where it's available.

What Are the Charts and Analysts Saying?

On the technical side, the stock is showing some strength, trading above its 20-day simple moving average. It's had a strong run over the past year and is sitting closer to its 52-week highs than lows. The Relative Strength Index (RSI) is right at 50, which is perfectly neutral—it tells us the stock isn't overbought or oversold at the moment, giving traders a relatively clean slate.

The analyst community is firmly in the bull camp. The stock carries a consensus Buy rating with an average price target of $12.60. Recently, HC Wainwright & Co. raised its target to $15.00, while D. Boral Capital maintained a bullish $23.00 target. For context, the stock was trading around $9.91 in premarket activity Thursday, up nearly 4% on the trial news.

From a trading perspective, key resistance is seen around $12.50, with support down near $9.00.

So, you've got a biotech story with two powerful engines: stunning clinical data that could redefine treatment in a major cancer market, and commercial execution that's already proving the product can win in the real world. It's a combination that doesn't come along every day, and investors are clearly taking notice.