Overview
- Anktiva is FDA-approved for BCG-unresponsive non-muscle invasive bladder cancer.
- The therapy generated about $113 million in FY25 net product revenue, roughly 700% year-over-year growth.
- Anktiva is positioned as a chemo-free IL-15 superagonist immunotherapy showing early efficacy with manageable safety.
- Upcoming catalysts include trial readouts in bladder cancer and glioblastoma that the article says could unlock further upside if positive.
- IBRX shares have rallied strongly, and the analyst-author maintains a buy rating while cautioning that the valuation is highly sensitive to setbacks.