ImmunityBio surge continues on sign its drug may be approved to treat a broader range of bladder cancers

Once you start squeezing, you can’t put the toothpaste back in the tube.

Shares of ImmnuityBio are flying higher once again, up more than 30% in early trading Tuesday after having been down as much as 10% in the premarket. A little more than half an hour into the regular trading day, more than 46 million shares have changed hands, more than 3x the 20-day average for this point in the session.

Last week, we discussed how a number of positive press releases from the company touting the progress of its treatments helped send shares skyward, making the heavily shorted company a hot topic of discussion on the r/ShortSqueeze subreddit.

The positive press parade continues this morning, with ImmunityBio announcing that the FDA asked for more information about the ability of its ANKTIVA drug to treat a certain type of bladder cancer, though it doesn’t need to do any new clinical trials. Management said they would provide this information within 30 days.

Share are up nearly 200% over the past six sessions.

On Monday, the company published a podcast appearance by Dr. Patrick Soon-Shiong, founder, executive chairman, and global chief medical and technology officer, on “The Sean Spicer Show,” which was provocatively titled, “Is the FDA BLOCKING Life Saving Cancer Treatments?”