NEW YORK — Shares of ImmunityBio Inc. jumped more than 11% on Wednesday, extending a volatile run for the cancer immunotherapy developer as investors bet on continued growth of its bladder cancer drug Anktiva and a key U.S. regulatory decision early next year.

The stock rose $1.01, or 11.44%, to $9.84 as of 11:43 a.m. Eastern time on the Nasdaq, putting it on track for one of its strongest sessions in weeks and pushing it closer to its 52-week high of $12.43.

The company did not issue a major announcement Wednesday morning, and there was no single confirmed catalyst for the move. The gain builds on a rally earlier in the week and comes as the San Diego-based biotech heads into a string of closely watched regulatory and commercial milestones.

Rally builds through the week

ImmunityBio shares have gained ground in each of the past several sessions. On Monday, the stock rose about 5% from a previous close of $8.44, according to MarketBeat data, which attributed the move to an analyst upgrade by Jefferies. Shares added to those gains on Tuesday before Wednesday's jump.

The stock has been one of the market's most volatile biotech names this year. It has swung between a 52-week low of $1.95 and a high of $12.43, and it was up roughly 300% year-to-date as of early September.

Short sellers remain heavily positioned against the company. Short interest stood at about 125.6 million shares, or roughly 31% of the float, according to recent data, which can amplify price swings when buyers step in.

Options activity has also been elevated. Earlier........

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