DUNKIRk: No easy path ahead for ImmunityBio
ImmunityBio’s entrance into the northern Chautauqua County economy seemed promising earlier this year. Founded by billionaire Dr. Patrick Soon-Shiong, the company had high hopes after purchasing the former Athenex manufacturing facility.
Recent numbers, however, are not as optimistic. As reported over this weekend, the early May filing with the SEC shows ImmunityBio losing $102,998,000 in the first three months of 2022 compared with a loss of $80,481,000 over the same time period in 2021. Overall, the company has lost $2.1 billion since it was founded, with losses coming from the costs of ongoing clinical trials and operations and research and development programs.
“We have no clinical products approved for commercial sale and have not generated any revenue from therapeutic and vaccine product candidates that are under development,” the company reported in the filing.
Former tenant of the site off Route 5 in Athenex, we must note, is suffering as well as its stock price continued to tumble. That being said, ImmunityBio has some major hurdles ahead of it. Some of their treatments being studied in clinical trials involve cancers and COVID-19 vaccine.
As the world of health care continues to evolve, there’s been a fair share of uncertainty. As a new partner to Dunkirk, ImmunityBio is clearly in that mix.