XML 48 R36.htm IDEA: XBRL DOCUMENT
v3.26.1

Related-Party Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Related Party Transactions [Abstract] |
Summary of Related-Party Debt | Our related-party debt is summarized below (in thousands):
| Balance as of June 30, 2026
|  |  |  |  |  |  | Fair Value
| Maturity Year |  | Interest Rate |  | Principal Amount |  | Amount |  | Leveling
December 2024 Convertible Promissory Note | 2027 |  | Term SOFR +8.0% |  | $ | 480,000 |  |  | $ | 774,350 |  |  | Level 3
| Balance as of December 31, 2025
|  |  |  |  |  |  | Fair Value
| Maturity Year |  | Interest Rate |  | Principal Amount |  | Amount |  | Leveling
December 2024 Convertible Promissory Note | 2027 |  | Term SOFR +8.0% |  | $ | 505,000 |  |  | $ | 477,093 |  |  | Level 3
Schedule of Unobservable Assumptions | The estimated fair value of the stock option purchase liability was computed using a Monte Carlo Simulation valuation technique that used the calculated exercise price and discounted it back to a present value at the risk-free rate with the following unobservable input at the following dates:
| June 30, 2026 |  | December 31, 2025
Expected volatility | 105.9 | % |  | 119.7 | %
The estimated fair value of the convertible note was computed using the following unobservable inputs at the following dates:
|  |  |  | June 30, 2026 |  | December 31, 2025
Binomial lattice model: |  |  |  |  |  |
Expected market yield |  |  |  | 17.4 | % |  | 14.8 | %
Expected volatility |  |  |  | 77.5 | % |  | 87.5 | %
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):
| Fair Value Measurements at June 30, 2026 |
| Total |  |  | Level 1 |  | Level 2 |  | Level 3 |
Assets at Fair Value: |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 75,670 |  |  |  | $ | 75,670 |  |  | $ | — |  |  | $ | — |  |
U.S. Treasury securities | 281,701 |  |  |  | 281,701 |  |  | — |  |  | — |  |
Noncurrent: |  |  |  |  |  |  |  |  |
Restricted cash | 1,277 |  |  |  | 1,277 |  |  | — |  |  | — |  |
Total assets measured at fair value | $ | 358,648 |  |  |  | $ | 358,648 |  |  | $ | — |  |  | $ | — |  |
​ |  |  |  |  |  |  |  |  |
Liabilities at Fair Value: |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Contingent consideration | $ | (21) |  | (1) |  | $ | — |  |  | $ | — |  |  | $ | (21) |  |
Noncurrent: |  |  |  |  |  |  |  |  |
Related-party convertible note payable at fair value (Note 11) | (774,350) |  |  |  | — |  |  | — |  |  | (774,350) |  |
Warrant liabilities (Note 13) | (352,383) |  |  |  | — |  |  | — |  |  | (352,383) |  |
RIPA derivative liability (Note 10) | (23,700) |  |  |  | — |  |  | — |  |  | (23,700) |  |
Stock option purchase liability (Note 10) | (306) |  |  |  | — |  |  | — |  |  | (306) |  |
Total liabilities measured at fair value | $ | (1,150,760) |  |  |  | $ | — |  |  | $ | — |  |  | $ | (1,150,760) |  |
| Fair Value Measurements at December 31, 2025 |
| Total |  |  | Level 1 |  | Level 2 |  | Level 3 |
Assets at Fair Value: |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 88,334 |  |  |  | $ | 88,334 |  |  | $ | — |  |  | $ | — |  |
U.S. Treasury securities | 154,484 |  |  |  | 154,484 |  |  | — |  |  | — |  |
Noncurrent: |  |  |  |  |  |  |  |  |
Restricted cash | 1,097 |  |  |  | 1,097 |  |  | — |  |  | — |  |
Total assets measured at fair value | $ | 243,915 |  |  |  | $ | 243,915 |  |  | $ | — |  |  | $ | — |  |
​ |  |  |  |  |  |  |  |  |
Liabilities at Fair Value: |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Contingent consideration | $ | (22) |  | (1) |  | $ | — |  |  | $ | — |  |  | $ | (22) |  |
Noncurrent: |  |  |  |  |  |  |  |  |
Related-party convertible note payable at fair value (Note 11) | (477,093) |  |  |  | — |  |  | — |  |  | (477,093) |  |
Warrant liabilities (Note 13) | (84,417) |  |  |  | — |  |  | — |  |  | (84,417) |  |
RIPA derivative liability (Note 10) | (19,400) |  |  |  | — |  |  | — |  |  | (19,400) |  |
Stock option purchase liability (Note 10) | (322) |  |  |  | — |  |  | — |  |  | (322) |  |
Total liabilities measured at fair value | $ | (581,254) |  |  |  | $ | — |  |  | $ | — |  |  | $ | (581,254) |  |
_______________
(1) | Contingent consideration is recorded at estimated fair value and revalued each reporting period until the related contingency is resolved. The fair value measurement is based on inputs that are unobservable and significant to the overall fair value measurement (i.e., a Level 3 measurement within the fair value hierarchy) and are reviewed periodically by management. See Note 8 “Commitments and Contingencies—Contingent Consideration Related to Business Combinations” for more information. Changes in fair value of contingent consideration were immaterial during the three and six months ended June 30, 2026 and 2025, and were primarily due to changes in foreign currency exchange rates.
The change in fair value of the stock option purchase liability is as follows (in thousands):
Fair value, at December 31, 2025 | $ | 322 |  |
Change in fair value | (8) |  |
Fair value, at March 31, 2026 | 314 |  |
Change in fair value | (8) |  |
Fair value, at June 30, 2026 | $ | 306 |  |
The change in the fair value of this note was as follows (in thousands):
Fair value, at December 31, 2025 | $ | 477,093 |  |  |
Change in fair value of related-party convertible note | 236,625 |  |  |
Conversion to common stock | (35,332) |  |  |
Fair value, at March 31, 2026 | 678,386 |  |  |
Change in fair value of related-party convertible note | 95,964 |  |  |
Fair value, at June 30, 2026 | $ | 774,350 |  |  |
Summary of Future Contractual Obligations of Related Party Debt | The following table summarizes the estimated future contractual obligations of our related-party debt as of June 30, 2026 (in thousands):
| Principal Payments |  | Interest Payments (1) |  | Total
2026 (excluding the six months ended June 30, 2026) | $ | — |  |  |  |  | $ | 28,372 |  |  |  |  | $ | 28,372 |
2027 | 480,000 |  |  |  |  | 56,282 |  |  |  |  | 536,282 |
Total | $ | 480,000 |  |  |  |  | $ | 84,654 |  |  |  |  | $ | 564,654 |
_______________
(1) | Interest payments on our convertible promissory note are calculated based on Term SOFR plus the contractual spread per the loan agreement. The interest rate on our convertible promissory note as of June 30, 2026 was 11.73%.
Summary of Interest Expense | Interest expense consists of the following (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Interest expense on related-party convertible note |  | $ | 14,032 |  |  | $ | 15,474 |  |  | $ | 28,591 |  |  | $ | 30,787 |

X
- Definition Schedule of related party notes payable. + References No definition available. + Details
Name: | ibrx_ScheduleOfRelatedPartyPromissoryNotesTableTableTextBlock
Namespace Prefix: | ibrx_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
Name: | us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration