Iovance Biotherapeutics Plunges 35.96% on Revenue Miss

On May 9, 2025, Iovance Biotherapeutics Inc. (IOVA) experienced a significant drop of 35.96% in pre-market trading, reflecting a challenging quarter for the company.

Iovance Biotherapeutics reported its first-quarter 2025 financial results, revealing a net loss of $116.2 million, or $0.36 per share. The company's total product revenue for the quarter was $49.3 million, with $43.6 million coming from Amtagvi and $5.7 million from Proleukin. However, the revenue was significantly impacted by scheduled maintenance at the Iovance Cell Therapy Center, which reduced production capacity.

The company revised its full-year 2025 revenue guidance to $250 million to $300 million, down from previous estimates. This revision was attributed to slower-than-anticipated commercial adoption and operational inefficiencies, including a $15 million period cost related to patient drop-off and manufacturing success rates. Despite these challenges, Iovance maintains a cash position of $366 million, providing runway into the second half of 2026.

Iovance's tumor-infiltrating lymphocyte (TIL) therapy platform continues to show clinical promise. Amtagvi, approved for advanced melanoma, has treated over 275 patients and generated $210 million in revenue in its first year. The company is also progressing with regulatory approvals for Amtagvi in the UK, EU, and Canada, expected in 2025. Additionally, Iovance is expanding its manufacturing capacity and clinical pipeline, with ongoing trials for frontline melanoma and non-small cell lung cancer.