ImmunityBio $IBRX Stock Up On Aldoxorubicin in Ongoing Clinical Studies

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IBRX stock moved more than 15% higher in morning trade on December 28, 2021, after the company announced an update on Aldoxorubicin to treat the most deadly forms of cancer.

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) (“ImmunityBio”) 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.

Pancreatic Cancer

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.

Glioblastoma

A Phase 1 / 2 trial has been submitted for the study of N-803 and aldoxorubicin in Glioblastoma. Further updates will be provided in 2022.

CytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRx’s most recent advanced drug conjugate, aldoxorubicin, is an improved version of the widely used anti-cancer drug doxorubicin and has been out-licensed to ImmunityBio, Inc. In addition, CytRx’s drug candidate, arimoclomol, was sold to Orphazyme A/S in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in two indications, including Niemann-Pick disease Type C (NPC), and Gaucher disease.

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.

📽 ImmunityBio IBRX stock update: Major disconnect between value & price

ImmunityBio IBRX stock update: Major disconnect between value & price

📈 IBRX Technical Analysis

Ibrx Stock

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 one of the lesser performing stocks in the Biotechnology industry. 100% of 628 stocks in the same industry do better. There is a support zone ranging from 7.16 to 7.21. 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 entry.

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