Iovance Biotherapeutics (IOVA) Plunges 30.3% as Q2 Revenue Miss, Workforce Cuts, and Regulatory Setbacks Spur Selling

The share price fell to its lowest level since the start of this month, with an intraday decline of 1.74% on Dec. 27.

Iovance Biotherapeutics (IOVA) shares slumped after reporting a Q2 2025 revenue miss of $60 million and a negative EPS of -$0.33, sparking a 30.3% premarket drop. The underperformance followed a 19% workforce reduction aimed at annualized savings of $100 million. Despite Amtagvi, its lead product, generating $54 million in Q2, the company withdrew its European marketing application for the therapy, citing the need for additional data to strengthen regulatory submissions. These developments, combined with persistent net income losses, have heightened concerns over Iovance’s ability to achieve its $250–300 million revenue target for 2025.

Analysts highlight the company’s reliance on Amtagvi for growth, as its tumor-infiltrating lymphocyte therapy faces competitive and regulatory hurdles. While cost-cutting measures and improved manufacturing efficiency are seen as potential catalysts, the resubmission of the European application and sustained adoption of Amtagvi will be critical for investor confidence.

With a history of negative margins and operational challenges, Iovance’s ability to stabilize cash flow and meet revised guidance remains a key focus for the market.