Is IBRX (ImmunityBio, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, IBRX is classified as Doubtful. It passed 3 of 4 compliance screens. Some scholars may permit investing with income purification, while others advise avoiding it. We recommend consulting a qualified Islamic scholar before investing in IBRX.

ImmunityBio, Inc. is a clinical-stage biotechnology company focused on developing advanced therapies and vaccines for severe diseases. The company utilizes innovative immunotherapy and cell therapy platforms, including natural killer cells and antibody cytokine fusion proteins, targeting challenging conditions like bladder, pancreatic, and lung cancers, as well as HIV and SARS-CoV-2. For Muslim investors using the AAOIFI methodology, ImmunityBio is currently classified as Doubtful. While the company's core mission of treating diseases is highly commendable and passes the business activity screen, it unfortunately fails the financial screening due to excessive interest-bearing income. Specifically, the interest income to revenue ratio sits at 5.91%, which breaches the strict 5% upper limit allowed by Islamic finance standards. From a balance sheet perspective, ImmunityBio demonstrates strong compliance in its leverage metrics. The company maintains a conservative debt-to-market cap ratio of 11.8% and a cash-to-market cap ratio of just 3.3%, both well below the 33% maximum threshold. The primary concern remains its revenue composition, which is currently skewed by interest earnings relative to its operational revenue. Because ImmunityBio is a clinical-stage biotech firm, its operational revenues can fluctuate significantly depending on trial milestones and commercialization. Halal investors should keep this stock on their watchlist, as future revenue growth from successful drug approvals could easily dilute the interest income percentage, potentially returning the stock to fully shariah-compliant status. ImmunityBio, Inc. operates in the Healthcare sector under the Biotechnology industry and is headquartered in San Diego, CA, US. The company is led by CEO Richard Gerald Adcock and employs approximately 671 people.

IBRX was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. IBRX passed 3 of these 4 screens.

IBRX was last screened on 2026-04-27. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.