ImmunityBio, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ImmunityBio, Inc. (IBRX) has filed its 2023 10-K annual report, detailing its financial performance and corporate history.</b>

AI Summary

ImmunityBio, Inc. (IBRX) filed a Annual Report (10-K) with the SEC on March 19, 2024. ImmunityBio, Inc. (IBRX) filed its 2023 10-K report on March 19, 2024. The company's fiscal year ends on December 31st. ImmunityBio, Inc. was formerly known as NantKwest, Inc., Conkwest, Inc., and ZelleRx Corp. The company is incorporated in Delaware and headquartered in San Diego, CA. The filing includes financial data for the fiscal years ending December 31, 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking ImmunityBio, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ImmunityBio's financial health and operational status for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the company's historical name changes and corporate structure, as detailed in the filing, can provide context for its evolution and strategic direction.

Risk Assessment

Risk Level: medium — ImmunityBio, Inc. shows moderate risk based on this filing. The company's financial performance and operational status are detailed in this 10-K filing, which is a standard requirement for publicly traded companies. Specific financial figures and risk factors will determine the overall risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess ImmunityBio's financial health and potential investment risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-19 — Filing Date (Date of submission)
• 124 — Public Document Count (Number of documents in the filing)
• 2836 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• ImmunityBio, Inc. (company) — Filer name
• IBRX (company) — Ticker symbol
• NantKwest, Inc. (company) — Former company name
• Conkwest, Inc. (company) — Former company name
• ZelleRx Corp (company) — Former company name
• San Diego, CA (company) — Business address city and state
• 2023-12-31 (date) — Fiscal year end
• 2024-03-19 (date) — Filing date

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-19: Filing Date — Date ImmunityBio, Inc. submitted its 10-K report.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and business overview for ImmunityBio, Inc.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period covered by the financial statements in the 10-K.)

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share IBRX The Nasdaq Global Select
• $100.0 million — stone after which Oberland may purchase $100.0 million in Revenue Interests will be achieved;

Filing Documents

• ibrx-20231231.htm (10-K) — 3981KB
• ibrx-20231231x10kexhibit47.htm (EX-4.7) — 17KB
• ibrx20231231-10kexhibit103.htm (EX-10.3) — 759KB
• ibrx20231231-10kexhibit104.htm (EX-10.4) — 232KB
• ibrx20231231-10kexhibit105.htm (EX-10.5) — 128KB
• ibrx20231231-10kexhibit1013.htm (EX-10.13) — 16KB
• ibrx20231231-10kexhibit1017.htm (EX-10.17) — 70KB
• ibrx-20231231x10kex1041.htm (EX-10.41) — 9KB
• ibrx-20231231x10kexhibit211.htm (EX-21.1) — 16KB
• ibrx-20231231x10kexhibit231.htm (EX-23.1) — 6KB
• ibrx-20231231x10kexhibit311.htm (EX-31.1) — 11KB
• ibrx-20231231x10kexhibit312.htm (EX-31.2) — 11KB
• ibrx-20231231x10kexhibit321.htm (EX-32.1) — 5KB
• ibrx-20231231x10kexhibit322.htm (EX-32.2) — 5KB
• ibrx-20231231x10kexhibit971.htm (EX-97.1) — 30KB
• ib_logoxfinalxcolorx02x2021a.jpg (GRAPHIC) — 226KB
• ibrx-20231231_g1.jpg (GRAPHIC) — 105KB
• ibrx-20231231_g2.jpg (GRAPHIC) — 628KB
• ibrx-20231231_g3.jpg (GRAPHIC) — 116KB
• 0001326110-24-000037.txt (&nbsp;) — 21946KB
• ibrx-20231231.xsd (EX-101.SCH) — 114KB
• ibrx-20231231_cal.xml (EX-101.CAL) — 177KB
• ibrx-20231231_def.xml (EX-101.DEF) — 715KB
• ibrx-20231231_lab.xml (EX-101.LAB) — 1164KB
• ibrx-20231231_pre.xml (EX-101.PRE) — 953KB
• ibrx-20231231_htm.xml (XML) — 2808KB

Business

Item 1. Business. 1

Risk Factors

Item 1A. Risk Factors. 42

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. 106

Cybersecurity

Item 1C. Cybersecurity. 107

Properties

Item 2. Properties. 109

Legal Proceedings

Item 3. Legal Proceedings. 109

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 110 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 111

Reserved

Item 6. Reserved. 112

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. 113

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 135

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. 137

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 206

Controls and Procedures

Item 9A. Controls and Procedures. 206

Other Information

Item 9B. Other Information. 207

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 207 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance. 208

Executive Compensation

Item 11. Executive Compensation. 208

Security Ownership of Certain Beneficial Owners and Management and

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 208

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence. 208

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services. 208 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules. 209

Form 10-K Summary

Item 16. Form 10-K Summary. 215

Signatures

Signatures 216 Defined Terms Unless expressly indicated or the context required otherwise, the terms "ImmunityBio," "the company," "the combined company," "we," "us," and "our" in this Annual Report refer to ImmunityBio, Inc., a Delaware corporation, and, where appropriate, its subsidiaries. We have also used several other terms in this Report, the consolidated financial statements and accompanying notes included herein, most of which are defined below: Term Definition 2014 Plan NantKwest, Inc. 2014 Equity Incentive Plan 2015 Plan ImmunityBio, Inc. 2015 Equity Incentive Plan 2015 Share Repurchase Program Board of Directors-approved share repurchase program 3M IPC 3M Innovative Properties Company 401(k) Plan 401(k) retirement and savings plan AAHI Access to Advanced Health Institute ACA Affordable Care Act ADCC antibody-dependent cellular cytotoxicity Altor Altor BioScience, LLC America Invents Act Leahy-Smith America Invents Act AML acute myeloid leukemia Amyris Amyris, Inc. Anktiva Proposed proprietary name for N-803, our novel antibody-cytokine fusion protein (nogapendekin alfa inbakicept-pmln) in the non-muscle invasive bladder cancer indication. The FDA has not yet approved this proposed proprietary name for such use, and this proposed proprietary name will be approved at the time the BLA is approved, if at all. Annual Report Annual Report on Form 10-K ART anti-retroviral therapy ASC Accounting Standards Codification ASCO American Society of Clinical Oncology ASU Accounting Standards Update Athenex Athenex, Inc. ATM "at-the-market" sales agreement ATRA American Taxpayer Relief Act of 2012 BARDA Biomedical Advanced Research and Development Authority BCG bacillus Calmette-Gurin Beike Shenzhen Beike Biotechnology Co. Ltd. BICR blinded independent central review BLA Biologics License Application BPCIA Biologics Price Competition and Innovation Act of 2009 bNAbs broadly-neutralizing antibodies Brink Brink Biologics, Inc. Cambridg

Forward-Looking Statements

Forward-Looking Statements This Annual Report contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include, but are not limited to: our ability to develop next-generation therapies and vaccines that complement, harness, and amplify the immune system to defeat cancers and infectious diseases; our ability to obtain additional financing to fund our operations and complete the development and commercialization of our various product candidates; whether or not the FDA will ultimately determine that the BLA resubmission and related actions successfully address and resolve the issues identified in the CRL; our ability, and the ability of our third-party CMOs, to adequately address the issues raised in the FDA's CRL; whether the FDA approval milestone after which Oberland may purchase $100.0 million in Revenue Interests will be achieved; our ability to meet our payment obligations under the RIPA and to service the interest on our related-party promissory notes and repay such notes, to the extent required; our ability to comply with the terms, conditions, covenants, restrictions, and obligations set forth in the RIPA and related transaction documents; our expectations regarding the potential benefits of our strategy and technology; our ability to forecast operating results and make period-to-period comparisons predictive of future performance due to fluctuations in warrant values; our expectations regarding the operation and effectiveness of our product candidates and related benefits; our ability to utilize multiple modes to induce cell death; our beliefs regarding the benefits and perceived limitations of competing approaches, and the future of competing technologies and our industry; details regarding our strategic vision and planned product c

View Full Filing

View this 10-K filing on SEC EDGAR