Iovance Biotherapeutics, Inc.
- Open
- 4.23
- Day high
- 4.33
- Day low
- 4.14
- Prev close
- 4.21
- Volume
- 9.9M
- Mkt cap
- $1.9B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.6
- P/S
- 6.5
- Yield
- —
- Per share
- —
Iovance Biotherapeutics, Inc. (IOVA) is a Healthcare company listed on NASDAQ. The stock is up 139% over the past year. Drillr has 1 published research article covering IOVA.
Iovance Biotherapeutics, Inc. (IOVA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IOVA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.19 | $-0.19 | +0.0% | $71M | -8.2% |
| Feb 24, 2026 | $-0.22 | $-0.18 | +18.2% | $87M | +3.3% |
| Nov 6, 2025 | $-0.29 | $-0.25 | +13.8% | $67M | -17.9% |
| Aug 7, 2025 | $-0.29 | $-0.33 | -13.8% | $60M | -23.5% |
| May 8, 2025 | $-0.25 | $-0.36 | -44.0% | $49M | -40.1% |
| Feb 27, 2025 | $-0.26 | $-0.26 | +0.0% | $74M | +2.1% |
| Nov 7, 2024 | $-0.31 | $-0.28 | +9.7% | $59M | -18.2% |
| Aug 8, 2024 | $-0.37 | $-0.34 | +8.1% | $31M | +26.5% |
| May 9, 2024 | $-0.45 | $-0.42 | +6.7% | $715000 | -65.5% |
| Feb 28, 2024 | $-0.44 | $-0.45 | -2.3% | $482000 | -65.3% |
| Feb 28, 2023 | $-0.64 | $-0.64 | +0.0% | — | — |
| Nov 3, 2022 | $-0.64 | $-0.63 | +1.6% | — | — |
IOVA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | Maynard Ryan Ddirector | Grant | 90,316 | — |
| Jun 18, 2026 | Countouriotis Athenadirector | Grant | 90,316 | — |
| Jun 18, 2026 | Puri Raj K.officer: Chief Regulatory Officer | Grant | 15,000 | — |
| Jun 18, 2026 | Dukes Iain D.director | Grant | 180,632 | — |
| Jun 18, 2026 | WEISER MICHAELdirector | Grant | 90,316 | — |
| Jun 9, 2026 | Vogt Frederick Gdirector, officer: Interim CEO & General Counsel | Option | 15,625 | — |
| Jun 9, 2026 | Puri Raj K.officer: Chief Regulatory Officer | Tax | 3,843 | $4.23 |
| Jun 9, 2026 | GRAF FINCKENSTEIN FRIEDRICHofficer: Chief Medical Officer | Option | 7,813 | — |
| Jun 9, 2026 | BILINSKY IGORofficer: Chief Operating Officer | Option | 7,813 | — |
| Jun 9, 2026 | Vogt Frederick Gdirector, officer: Interim CEO & General Counsel | Tax | 6,638 | $4.23 |
| Jun 9, 2026 | GRAF FINCKENSTEIN FRIEDRICHofficer: Chief Medical Officer | Tax | 3,976 | $4.23 |
| Jun 9, 2026 | Puri Raj K.officer: Chief Regulatory Officer | Option | 9,766 | — |
| Jun 9, 2026 | BILINSKY IGORofficer: Chief Operating Officer | Tax | 3,976 | $4.23 |
| Jun 3, 2026 | Vogt Frederick Gdirector, officer: Interim CEO & General Counsel | Tax | 17,701 | $3.96 |
| Jun 3, 2026 | GRAF FINCKENSTEIN FRIEDRICHofficer: Chief Medical Officer | Tax | 4,473 | $3.96 |
Source: IOVA SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full IOVA insider & 13F page →Iovance Biotherapeutics, Inc. company profile
Overview
Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a clinical-stage biotechnology company founded in 2007 and headquartered in San Carlos, California. Originally incorporated as Lion Biotechnologies, the company changed its name to Iovance Biotherapeutics in June 2017. The company achieved a significant milestone in February 2024 when the FDA approved its lead product Amtagvi (lifileucel), making it the first tumor-infiltrating lymphocyte (TIL) therapy approved for treating solid tumors. This approval transformed Iovance from a purely clinical-stage company into a commercial biotechnology enterprise focused on cancer immunotherapy.
Business
Iovance operates in the cancer immunotherapy sector, specifically developing treatments that harness a patient's own immune system to fight cancer. The company's core technology platform is based on tumor-infiltrating lymphocytes (TILs), which are immune cells naturally found within tumors that have the potential to recognize and attack cancer cells. The TIL therapy process involves surgically removing a piece of the patient's tumor, isolating the immune cells from within that tumor, expanding these cells to billions in a specialized laboratory over approximately 34 days, and then infusing them back into the patient after chemotherapy conditioning. This personalized approach essentially supercharges the patient's own immune response against their specific cancer. Iovance's primary revenue-generating products include: 1. Amtagvi (lifileucel) - The company's flagship TIL therapy approved for advanced melanoma patients who have failed prior treatments including anti-PD-1 therapy and targeted therapy. This represents approximately 85% of current product revenue. 2. Proleukin (aldesleukin) - An interleukin-2 therapy acquired from Clinigen in 2023, used for treating metastatic melanoma and renal cell carcinoma. This contributes roughly 15% of product revenue and provides complementary immunotherapy expertise. The company is also advancing TIL therapies for other solid tumors including non-small cell lung cancer, endometrial cancer, and head and neck squamous cell carcinoma through various clinical trials. Additionally, Iovance is developing next-generation genetically modified TIL therapies that could potentially improve efficacy and expand treatment applications.
Revenue model
Iovance generates revenue primarily through direct product sales of its approved therapies to healthcare providers. The company operates under a specialized treatment center model, working with Authorized Treatment Centers (ATCs) - hospitals and cancer centers equipped with the necessary infrastructure and expertise to administer TIL therapies. The revenue model involves several key components. For Amtagvi, the company charges approximately $515,000 per treatment course, with about 75% of patients covered by private insurance payers and over 95% of U.S. lives having access to reimbursement. The manufacturing process requires a 34-day turnaround time from tumor procurement to final product delivery, creating a predictable revenue pipeline based on manufacturing slots and patient flow. Several factors significantly impact Iovance's margins and profitability. Positive margin drivers include the high-value, personalized nature of TIL therapy that commands premium pricing, the specialized manufacturing process that creates barriers to competition, and the expansion of the ATC network which increases patient access and treatment volume. The company is targeting gross margins above 70% as manufacturing scales and processes optimize. Conversely, margin pressures come from the complex and expensive manufacturing requirements, including maintaining two FDA-approved facilities in Philadelphia with sophisticated cell processing capabilities. The lengthy patient treatment timeline from initial consultation to infusion creates working capital challenges, while the specialized nature of TIL therapy limits the addressable patient population. Additionally, the company faces ongoing research and development costs for pipeline programs and next-generation therapies, along with substantial commercial infrastructure investments to support the ATC network and international expansion plans.
Competitive moat
Iovance possesses a moderate but meaningful competitive moat built primarily on regulatory barriers and manufacturing expertise. The company holds the distinction of having the first and currently only FDA-approved TIL therapy for solid tumors, providing significant first-mover advantage in an emerging treatment category. The complex manufacturing process requiring specialized facilities, expertise in cell therapy production, and regulatory approval creates substantial barriers for potential competitors. The company's moat is strengthened by its established network of 70+ Authorized Treatment Centers, which required significant investment in training, infrastructure, and relationship building. These partnerships create switching costs and network effects that benefit both Iovance and the treatment centers. Additionally, the company's intellectual property portfolio and ongoing clinical trials in multiple indications provide some protection against competitive threats. However, the moat faces several potential challenges. Large pharmaceutical companies with greater resources are developing competing cell therapies and immunotherapies that could offer superior efficacy or convenience. The high cost and complexity of TIL therapy may limit market adoption compared to simpler treatment alternatives. Additionally, the emergence of off-the-shelf cellular therapies or other immunotherapy approaches could potentially bypass the personalized manufacturing requirements that currently provide Iovance's competitive advantage. The company's moat strength is also dependent on execution - successful international expansion, pipeline development, and manufacturing scale-up will be critical to maintaining competitive positioning as the market evolves and new entrants emerge.
Risks & safety
Iovance presents a moderate margin of safety profile with both strengths and risks for investors. • Liquidity and Solvency: Strong balance sheet with $172 million in cash and short-term investments as of Q1 2025, current ratio of 4.2x, and manageable debt levels (debt-to-equity ratio of 0.07). However, the company burns approximately $110 million per quarter in free cash flow. • Financial Runway: Current cash position provides runway into mid-2025 based on historical burn rates, though management projects reduced cash burn of under $300 million for full year 2025 as revenue scales. • Valuation Metrics: Trading at reasonable valuation multiples given growth stage - P/E ratio of -2.3x (based on losses), EV/EBITDA of -2.2x, and price-to-book ratio of 1.4x. Graham net-net ratio of 0.76 suggests some asset protection. • Revenue Visibility: Growing commercial revenue base with $49 million in Q1 2025 product sales and management guidance of $250-300 million for full year 2025, providing increasing predictability. • Key Risks: Significant quarterly losses continue, dependence on single approved product, manufacturing complexity, and competitive threats from larger pharmaceutical companies developing alternative therapies.
Recent development
Over the past few years, Iovance has undergone a fundamental transformation from clinical-stage biotechnology company to commercial enterprise. The pivotal moment came in February 2024 with FDA approval of Amtagvi for advanced melanoma, making it the first approved TIL therapy for solid tumors. This approval triggered an intensive commercial launch involving the establishment of a nationwide network of Authorized Treatment Centers, scaling from 30 centers at launch to over 70 centers currently operating across 32 states. The company has made substantial manufacturing investments, building specialized facilities in Philadelphia with current capacity to treat over 2,000 patients annually, with plans to expand to 5,000 patients in the near term and ultimately 10,000 patients annually. Manufacturing optimization has been a key focus, with the company working to improve success rates and reduce the 34-day turnaround time from tumor procurement to final product. Strategically, Iovance expanded its product portfolio through the acquisition of Proleukin from Clinigen in 2023, adding a complementary immunotherapy product and commercial expertise. The company is also pursuing aggressive international expansion with regulatory submissions planned or submitted in the UK, Canada, and European Union, targeting early access programs and full approvals in 2025-2026. On the pipeline front, Iovance is advancing multiple Phase 3 registrational trials including frontline advanced melanoma, non-small cell lung cancer, and endometrial cancer. The company is also developing next-generation TIL therapies incorporating genetic modifications such as PD-1 inactivation and enhanced cytokine expression to potentially improve efficacy and expand treatment applications beyond current indications.
IOVA company profile · for informational purposes only — not investment advice.
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