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Iovance Biotherapeutics Inc (IOVA)
NASDAQ:IOVA
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.27Last Year’s EPS
-$0.45Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -39.90%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong performance with significant revenue growth, successful commercial adoption of Amtagvi, and positive clinical trial results. Despite net losses and initial challenges in ATC performance, the overall sentiment is positive due to surpassing revenue expectations and a solid financial outlook.Company Guidance
During the Iovance Third Quarter 2024 Earnings Call, the company provided comprehensive guidance on various performance metrics. The total product revenue for the third quarter reached $58.6 million, surpassing the guidance range of $53 million to $55 million. This included $41 million from Amtagvi and $16.5 million from Proleukin. Year-to-date revenue was $90.4 million, with Amtagvi contributing $54.9 million. The company projected full-year 2024 revenue between $160 million and $165 million and 2025 revenue between $450 million and $475 million. Iovance also reported that 126 patients had been infused with Amtagvi since its launch in April, and they aimed to increase the number of authorized treatment centers to approximately 70 by year-end. Additionally, they highlighted that 75% of Amtagvi patients are covered by private payers, and more than 95% of U.S. covered lives have access to reimbursement. The company is also working on optimizing its manufacturing process to reduce the turnaround time from 34 days and expects gross margins to increase to over 70% in the coming years.Exceeding Revenue Expectations
Third quarter total product revenue was $58.6 million, surpassing the guidance of $53 million to $55 million. Year-to-date revenue reached $90.4 million, reflecting strong demand for Amtagvi and Proleukin.
Successful Commercial Launch
Amtagvi has been adopted at 56 ATCs across the U.S., with plans to expand to 70 by year-end, supported by strong clinical data and early inclusion in NCCN guidelines.
Robust Manufacturing and Expansion
The manufacturing process has maintained a consistent 34-day turnaround time since launch, and capacity is set to expand significantly to support future growth.
Positive Clinical Developments
Cohort 3A of the IOV-COM-202 trial showed a 64.3% objective response rate in EGFR wild-type non-small cell lung cancer patients, with potential for a new frontline regimen.
Strong Financial Position
The company has a cash position of $403.8 million, sufficient to fund operations into 2026, and has improved its gross margin to 44% in the third quarter.
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IOVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IOVA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $12.28 | $10.58 | -13.84% |
| Aug 08, 2024 | $7.94 | $9.92 | +24.94% |
| May 09, 2024 | $13.45 | $10.96 | -18.51% |
| Feb 28, 2024 | $17.43 | $15.91 | -8.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Iovance Biotherapeutics Inc (IOVA) report earnings?
Iovance Biotherapeutics Inc (IOVA) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Iovance Biotherapeutics Inc (IOVA) earnings time?
Iovance Biotherapeutics Inc (IOVA) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IOVA EPS forecast?
IOVA EPS forecast for the fiscal quarter 2024 (Q4) is -$0.27.
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