Equity Profile

IBRX

ImmunityBio, Inc.

Health CareBiotechnology$7.2B

Mar24Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

ImmunityBio, Inc. is a biotechnology company focused on developing immunotherapies to treat cancer and infectious diseases....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and is crucial for assessing its operational success.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

IBRX Q2-2026 Earnings Preview

Context

Company Snapshot

ImmunityBio, Inc. is a biotechnology company focused on developing immunotherapies to treat cancer and infectious diseases. As part of the health care sector, its innovations could play a significant role in advancing treatment options and improving patient outcomes.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-72.64%

Avg Stock Reaction

-0.28%

Last Quarter Recap

In Q1 2026, ImmunityBio reported an EPS of -$0.62, significantly missing the estimate of -$0.08. The stock reacted negatively, dropping 7.40% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as the company has struggled with profitability but has potential in its innovative therapies. Investors will be watching closely for any signs of improvement.

Bull Case

If ImmunityBio can demonstrate progress in its clinical trials and show improved financial metrics, it could regain investor confidence and drive stock prices higher.

Bear Case

On the other hand, continued losses and missed expectations could lead to further declines in stock value, especially if the market perceives a lack of progress in its drug development pipeline.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the company's updated timeline for its key clinical trials?

The timeline for clinical trials is crucial for understanding potential revenue streams and market entry, which could significantly impact investor sentiment.

How does ImmunityBio plan to address its recent earnings misses?

Addressing past performance and outlining a clear path to profitability will be essential for regaining investor trust and confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly focused on recent earnings misses without fully considering the potential for upcoming clinical trial results to shift sentiment positively.

Supporting Evidence

The options market is pricing a 7.94% move, indicating expectations of volatility that could be driven by trial updates.

The historical EPS beat rate of 63% suggests that the company has a track record of exceeding expectations, which may not be fully appreciated.

Key Risk

If the company can provide positive updates on its clinical trials, it could significantly alter the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is currently weighing the potential for recovery against the backdrop of recent disappointing earnings.

Bull Confirmed If

A reduction in EPS losses to below -$0.50 would indicate improved operational efficiency.

Bear Confirmed If

If EPS remains above -$0.60, it may signal ongoing struggles and lead to further stock declines.

Pre-Earnings Positioning

Options Market

Implied Move

±7.94%

Historical Avg

±7.9%

In line with history

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±7.9% while IBRX has averaged ±7.9% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

1.0%

30d HV

77.0%

Calls (1.2M)P/C Ratio: 0.47Puts (406K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing in-line setup in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.6%, with a raw directional average of -1.3% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ImmunityBio beats expectations, history suggests the stock could rise by around 3.1%, confirming a positive trend in its recovery.

In-Line / Cautious

An in-line report may lead to a muted reaction, as investors assess management's commentary on future prospects.

Miss

If the company misses expectations again, history indicates a potential drop of around 1.3%, reinforcing concerns about its financial health.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the progress of key clinical trials and any new data.
2Management's strategy for addressing recent earnings misses.
3Insights into revenue growth projections for the next quarter.
4Any partnerships or collaborations that could enhance product development.
5Future guidance on operational efficiencies and cost management.

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AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

ImmunityBio, Inc. is a biotechnology company focused on developing immunotherapies to treat cancer and infectious diseases....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and is crucial for assessing its operational success.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

IBRX Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-72.64%

Avg Stock Reaction

-0.28%

Last Quarter Recap

In Q1 2026, ImmunityBio reported an EPS of -$0.62, significantly missing the estimate of -$0.08. The stock reacted negatively, dropping 7.40% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as the company has struggled with profitability but has potential in its innovative therapies. Investors will be watching closely for any signs of improvement.

Bull Case

If ImmunityBio can demonstrate progress in its clinical trials and show improved financial metrics, it could regain investor confidence and drive stock prices higher.

Bear Case

On the other hand, continued losses and missed expectations could lead to further declines in stock value, especially if the market perceives a lack of progress in its drug development pipeline.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the company's updated timeline for its key clinical trials?

The timeline for clinical trials is crucial for understanding potential revenue streams and market entry, which could significantly impact investor sentiment.

How does ImmunityBio plan to address its recent earnings misses?

Addressing past performance and outlining a clear path to profitability will be essential for regaining investor trust and confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly focused on recent earnings misses without fully considering the potential for upcoming clinical trial results to shift sentiment positively.

Supporting Evidence

The options market is pricing a 7.94% move, indicating expectations of volatility that could be driven by trial updates.

The historical EPS beat rate of 63% suggests that the company has a track record of exceeding expectations, which may not be fully appreciated.

Key Risk

If the company can provide positive updates on its clinical trials, it could significantly alter the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is currently weighing the potential for recovery against the backdrop of recent disappointing earnings.

Bull Confirmed If

A reduction in EPS losses to below -$0.50 would indicate improved operational efficiency.

Bear Confirmed If

If EPS remains above -$0.60, it may signal ongoing struggles and lead to further stock declines.

Pre-Earnings Positioning

Options Market

Implied Move

±7.94%

Historical Avg

±7.9%

In line with history

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±7.9% while IBRX has averaged ±7.9% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

1.0%

30d HV

77.0%

Calls (1.2M)P/C Ratio: 0.47Puts (406K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing in-line setup in Health Care

n=30

Fade rate: 13 of 29 (45%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ImmunityBio beats expectations, history suggests the stock could rise by around 3.1%, confirming a positive trend in its recovery.

In-Line / Cautious

An in-line report may lead to a muted reaction, as investors assess management's commentary on future prospects.

Miss

If the company misses expectations again, history indicates a potential drop of around 1.3%, reinforcing concerns about its financial health.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the progress of key clinical trials and any new data.
2Management's strategy for addressing recent earnings misses.
3Insights into revenue growth projections for the next quarter.
4Any partnerships or collaborations that could enhance product development.
5Future guidance on operational efficiencies and cost management.