Iovance Biotherapeutics Inc. · Q2 2023 earnings

Briefing

Iovance reported second quarter and first half 2023 financial results and corporate updates.

Iovance reported a net loss of $106.5 million for the second quarter of 2023. The company's cash, cash equivalents, investments and restricted cash totaled $317.3 million as of June 30, 2023. The Priority Review of their BLA for lifileucel in advanced melanoma remains on track with a PDUFA action date of November 25, 2023.

• FDA Priority Review of Biologics License Application (BLA) on Track for Lifileucel in Advanced Melanoma with Prescription Drug User Fee Act (PDUFA) Action Date of November 25, 2023
• Preparing for Potential Commercial Launch of Lifileucel as First Approved TIL Therapy in 2023
• Post-Anti-PD-1 Non-Small Cell Lung Cancer TIL Program Advances into Registrational Development
• Acquired Proleukin®, which will provide revenue, streamline supply chain and logistics, reduce future cost of goods and lower expenses for IL-2 used with TIL therapies.

Headline financials

Revenue & EPS history

Iovance expects that the cash position, including net proceeds from the common stock public offering, will be sufficient to fund current and planned operations into the end of 2024.