Billionaire Soon-Shiong’s Biotech Stock Burns Shorts With Surge

Biotech billionaire Patrick Soon-Shiong’s ImmunityBio Inc. has more than tripled over the past three weeks, forcing some short sellers that were betting against the stock to exit their positions at a loss.

The drug developer’s shares advanced for the first 12 trading days of 2026, soaring 227% following a handful of updates for the cancer drugmaker, including an approval from the Saudi Food and Drug Authority. Despite more than five consecutive years of losses the stock’s popularity was also revived on social media platforms.