NEWS
Iovance Biotherapeutics Reports Financial Results and Corporate Updates for Second Quarter and First Half 2024
Positive
Strong Q2 2024 revenue of $31.1 million, including $12.8 million from Amtagvi and $18.3 million from Proleukin
Positive
Strong Q2 2024 revenue of $31.1 million, including $12.8 million from Amtagvi and $18.3 million from Proleukin
Guidance for significant revenue growth: Q3 2024 ($53-$55M), FY 2024 ($160-$165M), FY 2025 ($450-$475M)
Over 55 patients infused with Amtagvi since April 2024, indicating strong initial adoption
Onboarding complete at more than 50 U.S. ATCs across 29 states
Strong cash position of $449.6 million, expected to fund operations into early 2026
Expanding manufacturing capacity to treat over 5,000 patients annually in the next few years
Advancing clinical pipeline in multiple indications, including frontline melanoma and NSCLC
Negative
Net loss of $97.1 million in Q2 2024, compared to $106.5 million in Q2 2023
Cost of sales increased significantly to $31.4 million in Q2 2024 from $2.1 million in Q2 2023
Selling, general and administrative expenses increased to $39.6 million in Q2 2024 from $21.9 million in Q2 2023
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