ImmunityBio Trims Workforce Amid Efforts to Advance Anktiva in NSCLC

ImmunityBio, a San Diego-based biotech company, is continuing its workforce reduction into 2025 while simultaneously pushing forward with the development of its FDA-approved immunotherapy, Anktiva, for non-small cell lung cancer (NSCLC).

Ongoing Workforce Reductions

ImmunityBio is set to part ways with 10 employees in California effective March 25, according to Worker Adjustment and Retraining Notification Act notices. This follows a previous round of layoffs in the fall of 2024, where the company cut 31 positions. As of September 30, 2024, ImmunityBio reported a workforce of 672 employees. With these latest cuts, the company's headcount is estimated to drop to around 630.

The biotech firm has not publicly announced the reasons behind this workforce reduction, which affects nine employees in El Segundo and one in Culver City.

Advancing Anktiva in NSCLC

While trimming its workforce, ImmunityBio is simultaneously advancing its efforts to expand the applications of Anktiva. On January 29, 2025, the company announced a new collaboration and supply agreement with BeiGene, a global oncology company. This partnership aims to conduct a confirmatory randomized Phase III clinical trial combining BeiGene's PD-1 checkpoint inhibitor, tislelizumab, with Anktiva in non-small cell lung cancer.

The trial will investigate the potential of these two immunotherapeutic agents to improve overall survival in patients with advanced or metastatic NSCLC who have developed resistance to immune checkpoint inhibitor therapy. ImmunityBio has expressed intentions to submit a Biologics License Application (BLA) for this indication later this year.

Market Performance and Investor Sentiment

Despite Anktiva's FDA approval for non-muscle invasive bladder cancer in April 2024, the company's stock performance has been lackluster. In a January 21, 2025 investor's note, Aviso Capital Partners highlighted that while Anktiva has produced outstanding data in its approved indication, the approval "hasn't done much for the company or its retail shareholders." The firm noted a short spike following the approval, but the stock has since steadily declined. As of January 31, 2025, ImmunityBio's stock was trading at $3.48.

The company's journey with Anktiva has not been without challenges. The FDA initially rejected ImmunityBio's BLA for Anktiva in bladder cancer in May 2023, before ultimately granting approval in April 2024. As the company navigates these workforce reductions and clinical developments, industry observers remain focused on the potential of Anktiva in NSCLC and its impact on ImmunityBio's future trajectory.