Daily close, T-120 (9/4/24) through T+5. Run-up high $6.17 on 11/5/24, low $2.32 on 1/16/25 (T-120 to T-1). FDA decision 2/19/25. Historical price action, not a forecast.
Positioning before the decision
On Feb 5, 2025, 14 days before the decision date, at-the-money options priced a move of ±18.7% through Feb 21, 2025 (the first listed expiry after the decision; ATM implied volatility 111%). The stock closed +16.4% at the first close across the decision and -9.6% five trading days on. A straddle priced weeks out covers ordinary movement plus the event, so this is the move the options market priced through that expiry, not the event-implied move alone. How this compares across 1,000+ decisions.
Decision facts
FDA decision date2025-02-19
DrugANKTIVA
IndicationBCG-Unresponsive Non-Muscle Invasive Bladder Cancer
Yes. The FDA approved the application for ANKTIVA on February 19, 2025. The primary source is linked on this page.
What was ANKTIVA under FDA review for?
The application covered BCG-Unresponsive Non-Muscle Invasive Bladder Cancer. The FDA approved the application on February 19, 2025.
How did IBRX stock react to the FDA decision?
On the decision day IBRX moved +16.4%. That is the recorded reaction to this specific event -- historical measurement, not a prediction, and not investment advice.