Iovance Biotherapeutics (IOVA)
NASDAQ:IOVA
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Iovance Biotherapeutics
(NASDAQ:IOVA)
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Rating:53Neutral
Price Target:
$4.00
▲(3.63% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by large ongoing losses and substantial free-cash-flow burn despite improving revenue and a relatively low-leverage balance sheet. Offsetting this, the earnings call points to accelerating commercialization and improved cost discipline with multi-year runway, while technical indicators and valuation are neutral-to-weak and do not materially strengthen the investment case.
Positive Factors
Revenue Growth & Commercial Traction
Sustained high single‑digit to double‑digit revenue growth and a TTM run‑rate near $286M indicate the company is moving beyond early launch phases into repeatable commercial demand. Durable adoption trends (higher physician awareness and expanding ATC footprint) support continued per‑patient volume growth and revenue scalability over the next several quarters.
Negative Factors
Large, Persistent Cash Burn
Consistent, substantial negative operating and free cash flows create an enduring financing need absent a quick path to break‑even. Structural cash burn increases reliance on external capital, constrains reinvestment flexibility, and elevates dilution or liquidity risk if commercial growth or margin improvement slows versus plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Commercial Traction
Sustained high single‑digit to double‑digit revenue growth and a TTM run‑rate near $286M indicate the company is moving beyond early launch phases into repeatable commercial demand. Durable adoption trends (higher physician awareness and expanding ATC footprint) support continued per‑patient volume growth and revenue scalability over the next several quarters.
Read all positive factors
Iovance Biotherapeutics (IOVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.84B
Dividend YieldN/A
Average Volume (3M)14.73M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth34.26%
EPS Growth23.00%
CountryUS
Employees838
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.92
Shares Outstanding446,502,400
10 Day Avg. Volume12,978,753
30 Day Avg. Volume14,730,513
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.40
Price to Sales (P/S)3.70
P/FCF Ratio-2.90
Enterprise Value/Market Cap0.72
Enterprise Value/Revenue4.62
Enterprise Value/Gross Profit4.04
Enterprise Value/Ebitda-4.04
Forecast
1Y Price Target
$8.83Price Target Upside128.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.54
Revenue Forecast (FY)$362.55M
Iovance Biotherapeutics Business Overview & Revenue Model
Company Description
Iovance Biotherapeutics, Inc., a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. It has six ongoing phase 2 ...
How the Company Makes Money
Iovance makes money primarily through product sales of its commercialized autologous TIL cell therapy to healthcare providers/treatment centers, with revenue recognized when control of the therapy is transferred under its supply and purchase arran...
Iovance Biotherapeutics Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum and meaningful operational progress: high single-quarter revenue growth (~45% YoY), robust Amtagvi demand (+38% YoY), tighter Q2/full-year guidance, expanded manufacturing control, R&D cost reductions, extended cash runway into 2028, and encouraging early clinical signals (e.g., 40% ORR in serous endometrial cancer). Near-term headwinds include a one-time facility-related margin hit (Q1 gross margin ~41%), some quarter-to-quarter revenue volatility in Proleukin, continued use of ATM financing, and the usual clinical/regulatory and enrollment execution risks. Overall, the positives—notably accelerating commercial traction, pipeline advances, and improved cost discipline—substantially outweigh the listed challenges.Positive Updates
Strong Top-Line Growth
First quarter revenue of $71 million, an approximately 45% year-over-year increase, driven by strong Amtagvi demand.
Negative Updates
Temporary Manufacturing Disruption Impacted Q1 Margins
A temporary capacity reduction to complete facility upgrades contributed to one-time nonrecurring costs and constrained Q1 gross margin to ~41%, below the ~50% level referenced for Q4 2025.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
First quarter revenue of $71 million, an approximately 45% year-over-year increase, driven by strong Amtagvi demand.
Read all positive updates
Company Guidance
Iovance provided tight near‑term and full‑year financial guidance and several supporting metrics: Q1 revenue was $71M (≈45% YoY), driven by Amtagvi $60M (↑38% YoY) and Proleukin $11M; gross‑to‑net remained <2% and Q1 gross margin was ~41% (affected by one‑time facility upgrade costs); R&D expense declined for a third consecutive quarter (‑18% vs prior period, ‑12% vs prior quarter); cash & equivalents were ~$319M at March 31 with management expecting to fund operations into 2028. For Q2 they forecast total revenue of $86–88M (Amtagvi $79–81M, roughly a 23% increase versus their prior highest quarterly Amtagvi revenue in Q4 2025), and full‑year 2026 revenue of $350–370M (Amtagvi + Proleukin), with margins expected to trend higher in 2026 excluding one‑time items; management also reiterated a >$1B U.S. peak sales trajectory for Amtagvi + Proleukin, noted March was the largest Amtagvi month to date, physician awareness rose to 70% (from 50% six months earlier), and the company is targeting roughly 110 ATCs by year‑end.Iovance Biotherapeutics Financial Statement Overview
Summary
Income Statement
33
Negative
Balance Sheet
70
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 285.61M | 263.50M | 164.07M | 1.19M | 0.00 | 0.00 |
| Gross Profit | 327.04M | 256.22M | 40.08M | -9.57M | 0.00 | 0.00 |
| EBITDA | -326.78M | -357.11M | -351.67M | -427.43M | -377.74M | -328.72M |
| Net Income | -353.86M | -390.98M | -372.18M | -444.04M | -395.89M | -342.25M |
Balance Sheet | ||||||
| Total Assets | 925.66M | 913.17M | 910.43M | 780.35M | 663.98M | 777.33M |
| Cash, Cash Equivalents and Short-Term Investments | 313.44M | 296.98M | 323.78M | 279.87M | 471.85M | 504.41M |
| Total Debt | 46.78M | 48.44M | 58.26M | 75.86M | 85.45M | 71.53M |
| Total Liabilities | 203.91M | 214.59M | 200.02M | 195.74M | 164.34M | 155.67M |
| Stockholders Equity | 721.75M | 698.58M | 710.40M | 584.61M | 499.64M | 621.66M |
Cash Flow | ||||||
| Free Cash Flow | -305.02M | -336.24M | -364.05M | -384.11M | -313.18M | -265.51M |
| Operating Cash Flow | -270.79M | -302.41M | -352.98M | -361.82M | -292.76M | -227.94M |
| Investing Cash Flow | 43.02M | 47.50M | -96.41M | -155.24M | 256.45M | 132.00K |
| Financing Cash Flow | 251.79M | 300.77M | 390.66M | 462.96M | 190.15M | 239.27M |
Iovance Biotherapeutics Technical Analysis
Positive
3.86
Price Trends
3.63
Positive
3.35
Positive
2.83
Positive
Market Momentum
0.06
Negative
62.14
Neutral
76.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IOVA, the sentiment is Positive. The current price of 3.86 is above the 20-day moving average (MA) of 3.64, above the 50-day MA of 3.63, and above the 200-day MA of 2.83, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 62.14 is Neutral, neither overbought nor oversold. The STOCH value of 76.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IOVA.
Iovance Biotherapeutics Risk Analysis
Iovance Biotherapeutics disclosed 83 risk factors in its most recent earnings report. Iovance Biotherapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Iovance Biotherapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $1.43B | -47.34 | -1057.44% | ― | ― | -13.14% | |
53 Neutral | $1.84B | -4.65 | -50.17% | ― | 34.26% | 23.00% | |
52 Neutral | $1.55B | -2.63 | -53.31% | ― | 213.96% | 25.74% | |
52 Neutral | $1.65B | 69.02 | -44.10% | ― | 1205.52% | 81.79% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.51B | -9.31 | -55.68% | ― | ― | 51.42% | |
47 Neutral | $1.56B | -4.88 | -45.47% | ― | -72.09% | -754.83% |
* Healthcare Sector Average
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Iovance Biotherapeutics Corporate Events
Executive/Board Changes
Iovance Biotherapeutics Announces Upcoming Board Member Retirement
Neutral
Mar 20, 2026
On March 17, 2026, Iovance Biotherapeutics announced that board member Wendy Yarno will retire from its Board of Directors and will not stand for re-election at the company’s annual meeting of stockholders expected in June 2026. Yarno will c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.