IBRX Stock Under Pressure: Retail Sees 'Ridiculously Cheap' Bargain As Founder Touts Sister Firm Nantiq's Aetna Work

(MENAFN- AsiaNet News)

• Founder Patrick Soon-Shiong touted a cancer-care initiative involving NantIQ, his separate tech business, and Aetna, part of CVS Health.
• NantIQ's Eviti platform checks cancer-treatment plans against clinical evidence and insurance policies before care begins.
• Aetna expanded bundled cancer-care approvals for eligible Medicaid members in September, with a broader rollout planned for next year.

Shares of ImmunityBio, Inc. (IBRX) remained under pressure this week even as founder Patrick Soon-Shiong touted a cancer-care initiative linking his separate NantIQ tech business with insurer Aetna, part of CVS Health, fueling retail hopes for indirect benefits to the biotech firm.

IBRX stock rose 0.6% on Wednesday to $9.75 but remained down 5% for the week, putting it on track for its worst weekly performance since late July. 

Soon-Shiong Touts NantIQ's Aetna-CVS Connection

In a post on X, Soon-Shiong outlined integrating imaging, immunotherapy, chemotherapy and radiation so doctors could coordinate cancer treatment more precisely.“That day has arrived thanks to Aetna CVS and our amazing tech/AI team at NantIQ,” he said, identifying NantIQ as another NantWorks company.

The connection runs through Soon-Shiong: he founded ImmunityBio, which develops and commercializes immunotherapies, while NantIQ is a separate tech business within his broader NantWorks network. Aetna, the insurer owned by CVS Health, uses Eviti in parts of its cancer-treatment authorization process.

Soon-Shiong highlighted Eviti, which he called“Evidence-Based Treatment Integration,” as a platform in development for a decade. He also pointed to“Trial Match” as the next step, aiming to help doctors and patients learn about advanced clinical trials.

Aetna Streamlines Cancer-Care Approvals

Aetna announced last month that it expanded bundled prior authorizations to eligible Medicaid members across all cancer types, effective Sept. 1. Rather than requiring separate approvals for individual services, the approach lets providers submit a broader treatment plan through one portal. 

Depending on the plan, that can include chemotherapy, immunotherapy, radiation, and related MRI or CT scans. Aetna said providers previously submitted an average of four separate authorization requests for these services. Nearly a quarter of eligible members were already receiving care under bundled approvals.

The insurer plans to expand the approach across its businesses next year, including Medicare and commercial plans during the first half of the year. Meanwhile, Eviti checks proposed cancer-treatment plans against clinical evidence and insurance policies before treatment begins. 

ImmunityBio Eyes January FDA Decision

The NantIQ update builds on Soon-Shiong's push for 'Immunotherapy 2.0,' combining treatments, diagnostics and immune monitoring to prevent cancer from returning. After welcoming Michael Caputo's appointment to Trump's Cancer Panel, he said,“We are closer than ever.” 

ImmunityBio's flagship immunotherapy, Anktiva, received FDA approval in April 2024 for use with BCG in certain patients with bladder cancer that has not responded to BCG treatment. The next major milestone is the FDA's Jan. 6, 2027, target decision date on expanding Anktiva's bladder-cancer label to papillary-only disease. Anktiva is already approved in the U.S. for carcinoma in situ, with or without papillary tumors, while July's UAE authorization expanded its regulatory footprint to 34 countries. 

How Do Retail Traders Feel About IBRX?

On Stocktwits, retail sentiment for IBRX has been 'bullish' for the past week amid 'high' message volume.

IBRX sentiment and message volume as of October 8 | Source: Stocktwits

One user argued that connecting patient identification, tumor analysis, treatment selection, monitoring and clinical-trial matching could create an ecosystem extending beyond a single drug.“If even a fraction of the vision becomes reality, today's valuation could look ridiculously cheap in hindsight,” the user said.

Another user highlighted the possibility of evaluating an integrated treatment plan instead of treating each service as a separate reimbursement decision, calling the approach“huge.” A separate user questioned whether Soon-Shiong's promotion of another Nant business would translate into tangible benefits for IBRX shareholders.

IBRX stock has rocketed 392% year to date.

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