Shares of ImmunityBio (NASDAQ:IBRX) climbed roughly 8% after the company disclosed a $100 million financing package that blends additional non-dilutive capital with a conversion of existing debt into common stock.
The largest component is $75 million secured through the company’s standing Revenue Interest Purchase Agreement (RIPA) with Oberland Capital. That commitment increases the total capital available under the RIPA to $375 million. According to the company, the amended agreement preserves the prior terms while incorporating a modest rise in the royalty payback rate; the royalty cap remains unchanged.
In a parallel transaction, Nant Capital - an entity affiliated with ImmunityBio’s Executive Chairman Patrick Soon-Shiong - converted $25 million of principal from the firm’s outstanding promissory note into equity. That conversion yielded 4.6 million shares of common stock and reduces the outstanding balance under the $505 million promissory note that matures in December 2024.
ImmunityBio said the proceeds will be applied to support global commercial expansion after recent regulatory milestones and to advance its immunotherapy development efforts. The company highlighted regulatory achievements for ANKTIVA used in combination with BCG to treat BCG-unresponsive non-muscle invasive bladder cancer, which it said is now approved or authorized across five regulatory jurisdictions representing about 34 countries.
- Recent regulatory actions cited by the company include U.S. Food and Drug Administration approval in April 2024.
- The UK’s Medicines and Healthcare products Regulatory Agency granted authorization in July 2025.
- The European Commission issued a conditional marketing authorization in February 2026 that covers all 27 EU member states plus Iceland, Norway, and Liechtenstein.
Additional regulatory developments include approvals in the Middle East and Asia. In January 2026, Saudi Arabia’s Food and Drug Authority granted accelerated approval for ANKTIVA in BCG-unresponsive non-muscle invasive bladder cancer and a conditional accelerated approval for use in metastatic non-small cell lung cancer in combination with checkpoint inhibitors - the first jurisdiction to authorize ANKTIVA for lung cancer. Macau’s Pharmaceutical Administration Bureau followed with authorization in March 2026.
By combining revenue-based financing with a partial debt conversion, ImmunityBio has increased available capital while trimming the balance on a significant promissory note. The company is positioning those funds to support marketing and regulatory efforts globally and to continue developing its immunotherapy pipeline.
Summary
ImmunityBio’s $100 million financing mixes $75 million of non-dilutive RIPA funding and a $25 million debt-to-equity conversion as the company scales following multiple regulatory approvals for ANKTIVA.