Eoneren Iovance Biotherapeutics is up ~17% in premarket trading Friday after announcing 2024 and 2025 revenue outlook ranges that were both significantly above the consensus estimates. For 2024, the company expects revenue of $160M-$165M. Consensus is $140.
78M. In 2025, revenue is projected at $450M-$475M. Consensus is $395.
34M. Iovance attributes the substantial revenue growth to T-cell melanoma therapy Amtagvi (lifileucel), which was approved by the U.S.
FDA in February. Lifileucel is pending a regulatory decision by the European Medicines Agency. Additional applications to regulations in the U.
K. and Canada are expected by the end of the year, with Australia in H1 2025. In Q2, the company beat on both lines .
In the quarter, Iovance's net loss narrowed 9% year over year to $97.1M (-$0.34 basic and diluted vs.
-$0.47). More on Iovance Biotherapeutics Iovance Biotherapeutics: A Lot To Unpack Iovance Biotherapeutics downgraded to Neutral at Piper Sandler, stock falls Iovance Biotherapeutics, Inc.
2024 Q2 - Results - Earnings Call Presentation Iovance Biotherapeutics, Inc. (IOVA) Q2 2024 Earnings Call Transcript Seeking Alpha’s Quant Rating on Iovance Biotherapeutics.