Iovance 2025 Q2 Earnings Narrowed Losses Amid Strong Revenue Growth

Iovance (IOVA) reported its Q2 2025 earnings on August 8, 2025, delivering robust revenue growth but still posting a net loss. The company exceeded expectations with a 92.7% year-over-year revenue increase, though it reiterated guidance for $250–$300 million in total product revenue for FY2025.

Revenue

Iovance’s total revenue surged by 92.7% year-over-year to $59.95 million in Q2 2025, driven entirely by product revenue, which also reached $59.95 million. This marks a significant acceleration in top-line growth, supported by increased adoption of Amtagvi and Proleukin in the U.S. market.

Earnings/Net Income

Despite the revenue surge, Iovance’s net loss expanded to $111.66 million in Q2 2025, or $0.33 per share, from $97.10 million, or $0.34 per share, in the prior-year period. The company narrowed its per-share loss by 2.9% but continued to report a net loss for the fifth consecutive year in the same quarter, underscoring ongoing financial challenges.

Price Action

The stock price of Iovance posted mixed performance in the short term: it gained 10.76% during the latest trading day, fell 21.27% over the previous full trading week, and was up 6.03% month-to-date.

Post-Earnings Price Action Review

The strategy of buying IOVA following the earnings report and holding for 30 days underperformed significantly, returning -35.82% compared to a benchmark return of 75.56%. The excess return was -111.38%, and the annualized return (CAGR) was -8.66%, indicating a clear loss for those following this strategy.

CEO Commentary

Frederick Vogt, Ph.D., J.D., Interim President and Chief Executive Officer, noted the company’s momentum in the U.S. with Amtagvi, where more than 100 patients were treated in Q2 2025. He emphasized continued growth in H2 2025 driven by Amtagvi and Proleukin, with expansion of its ATC network and increasing adoption by large community practices. Vogt also highlighted ex-U.S. regulatory progress, including imminent Health Canada approval and ongoing reviews in the UK.

Guidance

Iovance reiterated total product revenue guidance of $250–$300 million for FY2025, fueled by Amtagvi and Proleukin growth, including restocking by U.S. distributors and ex-U.S. demand. The company is also working on manufacturing efficiency improvements to boost gross margins and anticipates continued revenue growth into 2026 and beyond.

Additional News

In Nigeria, the Punch newspaper highlighted several developments, including the Nigerian government’s rejection of a proposed deportee agreement with the U.S., similar to Rwanda and South Sudan. The WAEC revised its 2025 WASSCE results due to a grading error, and Nigeria’s foreign direct investment (FDI) dropped by 70% in three months. Additionally, a suspected ritualist in Akwa Ibom State was arrested for allegedly providing charms to armed robbers. Political developments included the Abia State PDP mocking a former deputy governor’s resignation from the party, while Rivers stakeholders urged President Tinubu to halt local government elections and reinstate former governor Fubara.