IBRX stock rose more than 23% on January 3, 2022, after the company issued a press release update on their joint venture COVID-19 vaccine.
AMYRIS AND IMMUNITYBIO COMPLETE JOINT VENTURE FOR NEXT GENERATION COVID-19 RNA VACCINE
On January 3, 2022, Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company accelerating the world to sustainable consumption through its Lab-to-Market™ operating platform, and ImmunityBio (Nasdaq: IBRX), a clinical-stage immunotherapy company, announced the completion of a joint venture agreement to accelerate the commercialization of a leading next-generation COVID-19 vaccine.
Amyris and ImmunityBio combine important vaccine technology and manufacturing capabilities in the joint venture. Upon completion of successful human trials and regulatory approval, the joint venture’s goal is to start delivering the second generation vaccine in 2022 as soon as is practically possible with a goal of delivering immunity for COVID-19 and access to underserved parts of the world where current vaccine technology is challenged due to cost and supply chain limitations.
“We are pleased to combine our expertise in human trials, T-Cell technology and our access to RNA manufacturing capacity with the Amyris and Infectious Disease Research Institute (IDRI) RNA technology platform and Amyris’ adjuvant technology,” said Patrick Soon-Shiong, M.D., Executive Chairman and Global Chief Scientific and Medical Officer at ImmunityBio. “Combined we have a real opportunity to provide true immunity against COVID-19 variants along with a platform that can quickly adapt to a future potential respiratory virus. We are focused on completing human trials and delivering vaccines in 2022.”
“Combining our RNA technology with ImmunityBio’s expertise and access has the potential to significantly accelerate and de-risk our time to market for a much-needed second generation COVID-19 vaccine,” said John Melo, President and Chief Executive Officer of Amyris. “We are very pleased with the progress our teams have made in the short time we’ve been working together and remain focused on completing successful human trials as quickly as possible.”
“Two years into the COVID-19 pandemic, it has become abundantly clear that next-generation vaccines will be required to put the pandemic behind us,” said Corey Casper, M.D., MPH and Chief Executive Officer of IDRI. “Vaccines that are accessible to every person across the globe, broad in their protection against current and future variants of concern, and invoke durable protective immunity are now within our reach. The ability to ‘mix and match’ vaccine platforms through this new joint venture and ImmunityBio’s multiple COVID vaccine platforms represents one of the most exciting approaches to ending COVID-19.”
ImmunityBio (Nasdaq: IBRX) is a leading late-clinical-stage immunotherapy company developing next-generation therapies that drive immunogenic mechanisms for defeating cancers and infectious diseases. The company’s broad immunotherapy and cell therapy platforms—including Antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies (hAd5 viral vector, mRNA, recombinant protein, and adjuvant), and genetically-modified, off-the-shelf natural killer cells (autologous and allogenic cytokine-enhanced memory NK cells)—activate both the innate (natural killer cell and macrophage) and adaptive (T cell) immune systems to create long-term “immunological memory.”
ImmunityBio’s clinical pipeline consists of 21 clinical trials—13 of which are in Phase II or III development—across 12 indications in solid and liquid cancers (including bladder, pancreatic, and lung cancers) and infectious diseases (including SARS-CoV-2 and HIV). Anktiva™, ImmunityBio’s lead cytokine infusion protein, is a novel interleukin-15 (IL-15) superagonist complex and has received Breakthrough Therapy and Fast Track Designations from the U.S. Food and Drug Administration (FDA) for BCG-unresponsive CIS non-muscle invasive bladder cancer (NMIBC).
CytRx Highlights ImmunityBio’s Use of Aldoxorubicin in Ongoing Clinical Studies for Various Forms of Cancer
On December 21, 2021, CytRx Corporation (OTCQB:CYTR), a specialized biopharmaceutical company focused on research and development in oncology and neurodegenerative diseases, today highlighted ImmunityBio, Inc.’s (NASDAQ: IBRX) recent clinical developments in the study of aldoxorubicin to treat various cancers.
CytRx out-licensed global development, manufacturing and commercialization rights for aldoxorubicin to ImmunityBio in 2017. The Company has an agreement with ImmunityBio that can yield up to $343 million in potential milestone payments as well as prospective royalties on sales of aldoxorubicin.
ImmunityBio’s QUILT 88 study is a randomized, three-cohort, open-label study that evaluates the comparative efficacy and overall safety of standard-of-care chemotherapy versus standard-of-care chemotherapy in combination with PD-L1 t-haNK, Anktiva (N-803), and aldoxorubicin in subjects with locally advanced or metastatic pancreatic cancer.
On October 13, ImmunityBio announced that the third cohort (“Cohort C”) in the QUILT 88 study, which includes patients with third-line or greater disease, is fully enrolled and of the evaluable patients, 90% (43/48) have exceeded the historical survival rates of approximately two months with standard-of-care chemotherapy. Based on the strength of this early data and the significant unmet medical need, ImmunityBio submitted an amendment to the U.S. Food and Drug Administration to increase enrollment in Cohort C, and enrollment is actively ongoing.
The interim results of Cohort C in the QUILT 88 study have been selected for presentation at the ASCO Gastrointestinal Cancers Symposium in January 2022 and the data to date continues to show that the historical overall survival in patients who have enrolled with 3rd, 4th, 5th and even 6th line metastatic pancreatic cancer exceeds any historical overall survival rate for this advanced stage of disease, for which there are no further treatment options available.
Triple Negative Breast Cancer and Head and Neck Cancer
ImmunityBio continues to study the effectiveness of N-803 and aldoxorubicin in combination with PD-L1 t-haNK in Phase 1 / 2 clinical trials to treat triple negative breast cancer and head and neck cancer.
ImmunityBio price target lowered to $20 from $25 at Piper Sandler
On December 20, 2021, Piper Sandler analyst Joseph Catanzaro lowered the firm’s price target on ImmunityBio to $20 from $25 and keeps an Overweight rating on the shares. The company this morning announced additional funding and provided key catalysts for 2022, Catanzaro tells investors in a research note. Most important is the impending Biologics License Application filing for N-803 plus BCG in non-muscle invasive bladder cancer, says the analyst.
📺 IBRX (Immunitybio Inc) Stock Technical Analysis | 1/3/2022
📈 ImmunityBio Stock Technical Analysis
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting. IBRX is currently trading near the lower end of its 52 week range, which is not a good sign considering that the S&P500 Index is trading near new 52 week highs at the moment.
There is a support zone ranging from 7.42 to 7.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The technical rating of IBRX is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when IBRX stock consolidates and is a good technical entry.