Iovance Biotherapeutics
Commercializes TIL cell therapies for melanoma and other solid-tumor settings.
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Profile
Sells Amtagvi and Proleukin, pairing an FDA-approved TIL cell therapy with the interleukin-2 product used in treatment and manufacturing. Operations center on oncology access, cell-therapy manufacturing, authorized treatment centers, and confirmatory evidence required under accelerated approval.
Markets Amtagvi, a lifileucel TIL cell therapy for previously treated unresectable or metastatic melanoma, alongside Proleukin, the aldesleukin product used in the Amtagvi regimen and sold for other oncology, manufacturing, clinical, and research uses.
Commercial work is centered in U.S. oncology channels, with Canadian conditional authorization extending the same core melanoma therapy into another regulated market. Manufacturing is built around the Iovance Cell Therapy Center in Philadelphia, nearby contract capacity, and authorized treatment centers that collect and ship tumor tissue.
Execution depends on patient access, reliable cell-therapy manufacturing, Proleukin supply and use, and confirmatory evidence required by the accelerated-approval pathway. Promotional materials also operate under FDA scrutiny after the agency challenged exploratory overall-survival claims.
Company facts
Key statistics
Year to date +218% · Average volume (30d) 17.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | UBS | Reiterate | Neutral | $2 | $7 | |
| Aug 18, 2026 | Mizuho Securities | Target | $11 | |||
| Aug 7, 2026 | Robert W. Baird | Target | $24 | $6 | ||
| Aug 7, 2026 | Barclays | Reiterate | Overweight | $40 | $13 | |
| Jun 1, 2026 | National Bank | Target | $5 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.13 | −$0.11 | +17.6% | $87.8M | $99.3M | +13.1% | +43.09% |
| May 7, 2026Q1 FY26 | −$0.19 | −$0.19 | 0.0% | $77.8M | $71.4M | −8.2% | +1.97% |
| Feb 24, 2026Q4 FY25 | −$0.22 | −$0.18 | +18.2% | $80.7M | $86.7M | +7.4% | +1.32% |
| Nov 6, 2025Q3 FY25 | −$0.29 | −$0.25 | +13.8% | $82.2M | $67.5M | −17.9% | −0.43% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $49.3M | $60.0M | $67.5M | $86.8M | $71.4M | $99.3M | |
| Gross profit | −$417.0K | $3.3M | $66.0M | $187.3M | $70.4M | $54.2M | |
| Operating income | −$121.2M | −$113.8M | −$94.9M | −$73.5M | −$81.0M | −$51.9M | |
| Net income | −$116.2M | −$111.7M | −$91.3M | −$71.9M | −$79.0M | −$47.3M | |
| Diluted EPS | −$0.36 | −$0.33 | −$0.25 | −$0.15 | −$0.19 | −$0.11 | |
| Gross margin | -0.8% | 5.5% | 97.9% | 215.9% | 98.6% | 54.6% | |
| Operating margin | -245.8% | -189.8% | -140.7% | -84.7% | -113.5% | -52.3% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $1.2M · FY24 $164.1M · FY25 $263.5M
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $297.7M · Total debt $46.0M · Total assets $915.5M · Shareholders' equity $736.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 446.50M · Float 387.87M · 86.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 31.08M | 6.96% | 13F | May 13, 2026 |
| MHR Fund Management LLC | 28.97M | 6.49% | 13F | May 15, 2026 |
| State Street Corporation | 24.48M | 5.50% | 13G | Aug 7, 2026 |
| Vanguard Capital Management LLC | 16.62M | 3.72% | 13F | May 15, 2026 |
| Two Sigma Investments, LP | 13.69M | 3.07% | 13F | May 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Merck
PD-1 backbone in melanoma and solid-tumor immunotherapy
- Bristol-Myers Squibb
Checkpoint and LAG-3 melanoma incumbent with Opdivo, Yervoy, Opdualag
- Novartis (ADR)
BRAF/MEK targeted melanoma competitor via Tafinlar and Mekinist
- Pfizer
BRAF/MEK melanoma challenger through Braftovi and Mektovi
- Replimune Group
Oncolytic immunotherapy challenger in anti-PD-1-failed melanoma
- Immatics
PRAME TCR-T program targeting post-checkpoint advanced melanoma
- Immunocore (ADR)
TCR bispecific incumbent in metastatic uveal melanoma
- Amgen
Approved oncolytic-virus niche in injectable melanoma lesions
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Iovance Biotherapeutics | $8.03 | +0.06% | $3.58B | — | — | 11.0 | +65.7% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Replimune Group | $15.45 | −0.39% | $1.30B | — | — | — | — |
| Immatics | $9.35 | −0.95% | $1.27B | — | — | 26.2 | +113.0% |
| Immunocore (ADR) | $36.62 | −0.03% | $1.86B | — | — | 4.6 | −13.7% |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Median | 26.9 | 16.4 | 5.3 | +5.1% |










