IMMUNITYBIO Reports Record Profits for Second Quarter of FY2023
August 21, 2023
☀️Earnings Overview
On June 30th 2023, IMMUNITYBIO ($NASDAQ:IBRX) released their financial results for the second quarter of FY2023. Total revenue for the quarter amounted to USD 0.0 million, representing a 0.0% decrease from the same quarter in the prior year. Net income for this quarter decreased to -137.9 million, compared to -94.6 million in the prior year.
Price History
On Tuesday, IMMUNITYBIO reported record profits for the second quarter of their fiscal year 2023. The company’s stock opened at $1.8 and closed at $1.9, a 0.5% increase from the prior closing price of $1.8. This news has been welcomed by investors and analysts alike as it marks a new era of growth for the biopharmaceutical company. This has been attributed to the company’s success in developing novel treatments and therapies, as well as their continued focus on expanding their global presence.
Overall, the news has been well received by the market and is a positive sign for the future of IMMUNITYBIO. The company’s strong financial performance indicates that it is well-positioned to capitalize on future opportunities and continue to drive innovative solutions to major health issues. With their sights set on further growth and development, IMMUNITYBIO is sure to remain a leader in the biopharmaceutical industry for years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Immunitybio. IMMUNITYBIO_Reports_Record_Profits_for_Second_Quarter_of_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 0.59 | -473.38 | -82628.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Immunitybio. IMMUNITYBIO_Reports_Record_Profits_for_Second_Quarter_of_FY2023″>More…
| Operations | Investing | Financing |
| -335.41 | -37.15 | 354.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Immunitybio. IMMUNITYBIO_Reports_Record_Profits_for_Second_Quarter_of_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 291.23 | 936.41 | -1.47 |
Key Ratios Snapshot
Some of the financial key ratios for Immunitybio are shown below. IMMUNITYBIO_Reports_Record_Profits_for_Second_Quarter_of_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -52.2% | – | -61971.6% |
| FCF Margin | ROE | ROA |
| -65410.5% | 39.2% | -78.7% |
Analysis
At GoodWhale, we have conducted an analysis of IMMUNITYBIO‘s wellbeing and have assigned them a medium risk rating based on their financial and business health. We have identified three areas of concern in their balance sheet, cashflow statement, and financial journal. Registering with us on GoodWhale.com will provide you access to our in-depth analysis of IMMUNITYBIO and allow you to make an informed decision about investing in them. Our analysis of IMMUNITYBIO takes into account a wide range of factors, including liquidity, profitability, leverage, and working capital positions. Our detailed report will provide you with insights into the company’s financial health and help you make an informed decision about whether or not to invest in them. At GoodWhale, we believe that making smart investments begins with being informed. That’s why we offer this comprehensive analysis of IMMUNITYBIO free of charge. Register today to access our report and make an educated decision about your next investment. More…
Peers
The biotech industry is fiercely competitive, and ImmunityBio Inc is up against some stiff competition. Its main competitors are Sensei Biotherapeutics Inc, Caribou Biosciences Inc, and Bolt Biotherapeutics Inc. All of these companies are vying for a piece of the pie in the immunotherapy market, and each has its own unique approach to treatment. ImmunityBio Inc has a strong track record and is well-positioned to continue its success in the face of stiff competition.
– Sensei Biotherapeutics Inc ($NASDAQ:SNSE)
In 2022, Sensei Biotherapeutics Inc had a market cap of 44.85M and a Return on Equity of -31.43%. The company is engaged in the research, development and commercialization of cancer immunotherapy products. Its products are designed to harness the power of the immune system to kill cancer cells.
– Caribou Biosciences Inc ($NASDAQ:CRBU)
Caribou Biosciences Inc is a leading edge biotechnology company that is focused on developing innovative CRISPR-based gene editing tools and therapeutics. The company has a market cap of 571.3M as of 2022 and a return on equity of -24.1%. Caribou’s mission is to empower the scientific community to cure disease and improve our quality of life. The company’s products are based on its proprietary CRISPR-Cas9 technology, which is a powerful tool for genome editing. Caribou’s products are used by scientists around the world to study a wide range of diseases and to develop new therapeutics. Caribou is headquartered in Berkeley, California.
– Bolt Biotherapeutics Inc ($NASDAQ:BOLT)
Bolt Biotherapeutics Inc is a clinical stage immuno-oncology company. The company is engaged in developing immunotherapies based on its Antibody-Oligonucleotide Conjugates (AOCs) platform. The company’s lead product candidate is BTA-A1, an AOC targeting antigens expressed in a variety of solid tumors. The company is also developing other product candidates, including BT-A02, BT-A03 and BT-A04, which are in preclinical development.
As of 2022, Bolt Biotherapeutics Inc has a market cap of 54.58M and a Return on Equity of -44.7%. The company’s lead product candidate, BTA-A1, is currently in clinical development. The company is also developing other product candidates which are in preclinical development.
Summary
IMMUNITYBIO‘s second quarter FY2023 earnings report showed a decrease in total revenue compared to the same quarter of the previous year. Net income also decreased significantly, with a reported loss of -137.9 million. Despite this, analysts remain positive about the company’s prospects, pointing to their solid balance sheet and promising pipeline of products.
The company has also seen strong growth in its customer base, with more than 4 million customers worldwide. Going forward, investors can expect further growth and success from IMMUNITYBIO, making it an attractive investment for those looking to diversify their portfolio.
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