ImmunityBio's bladder cancer therapy wins FDA approval

The US Food and Drug Administration has approved ImmunityBio's (IBRX) bladder cancer therapy, a significant milestone for the company. ImmunityBio Executive Chairman Dr. Patrick Soon-Shiong, joins Market Domination alongside Yahoo Finance's health reporter Anjalee Khemlani to discuss the company's plans following this pivotal approval.

Soon-Shiong says that Anktiva will be "the next generation of immuno-therapy." He claims the drug is the first of its kind to "generate complete remission that's completely durable" for 47 months and longer.

Soon-Shiong believes the drug will serve as "a backbone" to "checkpoint inhibitors," a class of immunotherapy drugs. He envisions the drug's potential to target cancers regardless of their location within the body, describing it as "an opportunity to use this as a fundamental platform across all tumor types."

Soon-Shiong says he, alongside other entities, collectively invested around $400 million in the company when the drug was first rejected. He further notes that additional investments totaling $100 million are forthcoming, stating, "the company is stable in terms of cash capabilities,"— hoping for a commercial launch of Anktiva in May.

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This post was written by Angel Smith