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Iovance Biotherapeutics, Inc., a commercial-stage biopharmaceutical company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States and internationally. The company offers Amtagvi, an individualized T cell therapy for solid tumor cancer and for the treatment of adult patients with previously treated advanced, or unresectable or metastatic melanomal; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic melanoma and metastatic renal cell carcinoma. It also develops lifileucel for the treatment of melanoma, cervical cancer, non-small cell lung cancer (NSCLC), endometrial cancer, and head and neck squamous cell carcinoma (HNSCC); LN-145-S1 to treat melanoma and HNSCC; LN-145 Gen 3 and core biopsy for the treatment of NSCLC; LN-145 Gen 3 to treat melanoma and HNSCC; IOV-2001 to treat chronic lymphocytic leukemia and small lymphocytic lymphoma; IOV-4001 for the treatment of melanoma and NSCLC; and IOV-3001 for use in the TIL therapy treatment regimen. The company has collaborations and licensing agreements with National Institutes of Health; the National Cancer Institute; Cellectis S.A.; Novartis Pharma AG; and Boehringer Ingelheim Biopharmaceuticals GmbH. The company was formerly known as Lion Biotechnologies, Inc. and changed its name to Iovance Biotherapeutics, Inc. in June 2017. Iovance Biotherapeutics, Inc. was incorporated in 2007 and is headquartered in San Carlos, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $264M | $-351M | $-391M | $-336M | -56.0% | 60.6% | 5.1% |
| 2024 | $164M | $-347M | $-372M | $-364M | -52.4% | 13699.0% | -16.2% |
| 2023 | $1M | $-427M | $-444M | $-384M | -76.0% | - | 12.2% |
| 2022 | $0M | $-378M | $-396M | $-313M | -79.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 1.19 | 164.07 | 263.50 |
| Operating Revenue | - | 0 | 1.19 | 169.17 | 268 |
| Cost Of Revenue | - | 0 | 1.03 | 93.25 | 173.18 |
| Gross Profit | - | 0 | 0.16 | 70.82 | 90.32 |
| Operating Expense | - | 398.88 | 460.72 | 466.10 | 488.53 |
| Research And Development | - | 294.78 | 333.19 | 276.23 | 300.27 |
| Selling General And Administration | - | 104.10 | 106.10 | 152.27 | 152.32 |
| Total Expenses | - | 398.88 | 461.75 | 559.35 | 661.72 |
| Operating Income | - | -398.88 | -460.56 | -395.28 | -398.21 |
| Total Operating Income As Reported | - | -398.88 | -460.56 | -395.28 | -403.36 |
| EBITDA | - | -377.74 | -427.43 | -347.21 | -350.89 |
| Normalized EBITDA | - | -377.74 | -427.43 | -347.21 | -345.75 |
| EBIT | - | -398.88 | -460.56 | -395.28 | -398.21 |
| Interest Income | - | 2.98 | 13.04 | 20.27 | 10.31 |
| Net Interest Income | - | 2.98 | 13.04 | 20.27 | 10.31 |
| Other Income Expense | - | - | - | - | -5.14 |
| Interest Income Non Operating | - | 2.98 | 13.04 | 20.27 | 10.31 |
| Net Non Operating Interest Income Expense | - | 2.98 | 13.04 | 20.27 | 10.31 |
| Pretax Income | - | -395.89 | -447.52 | -375 | -393.05 |
| Tax Provision | - | 0 | -3.48 | -2.83 | -2.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | -0.03 |
| Net Income Continuous Operations | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Net Income From Continuing And Discontinued Operation | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Net Income From Continuing Operation Net Minority Interest | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Net Income | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Net Income Common Stockholders | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Net Income Including Noncontrolling Interests | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Normalized Income | - | -395.89 | -444.04 | -372.18 | -385.86 |
| Diluted NI Availto Com Stockholders | - | -395.89 | -444.04 | -372.18 | -390.98 |
| Basic Average Shares | - | 159.26 | 235.13 | 289.88 | 357.34 |
| Diluted Average Shares | - | 159.26 | 235.13 | 289.88 | 357.34 |
| Reconciled Depreciation | - | 21.14 | 33.13 | 48.07 | 47.32 |
| Reconciled Cost Of Revenue | - | 0 | 1.03 | 82.78 | 161.80 |
| Total Unusual Items | - | - | 0 | 0 | -5.14 |
| Total Unusual Items Excluding Goodwill | - | - | 0 | 0 | -5.14 |
| Special Income Charges | - | - | 0 | 0 | -5.14 |
| Restructuring And Mergern Acquisition | - | - | 0 | 0 | 5.14 |
| Depreciation Amortization Depletion Income Statement | - | - | 21.42 | 37.60 | 35.94 |
| Depreciation And Amortization In Income Statement | - | - | 21.42 | 37.60 | 35.94 |
| General And Administrative Expense | 83.66 | 104.10 | - | - | - |
| Other Gand A | 83.66 | 104.10 | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Iovance Biotherapeutics, Inc.this co. | IOVA | $2.0B | -5.00 | 2.80 | -56.0% | -5.25 |
| Recursion Pharmaceuticals, Inc. | RXRX | $2.0B | -3.13 | 1.78 | -57.0% | -2.42 |
| Progyny, Inc. | PGNY | $2.0B | 34.11 | 3.87 | 11.3% | 21.18 |
| Omnicell, Inc. | OMCL | $2.0B | 967.26 | 1.61 | 0.2% | 21.53 |
| Trevi Therapeutics, Inc. | TRVI | $2.0B |
| - |
| - |
| - |
| - |
| - |
| - |
| -46.25 |
| 10.79 |
| -23.3% |
| -45.92 |
| Ocular Therapeutix, Inc. | OCUL | $1.9B | -7.25 | 2.94 | -40.6% | -5.07 |
| Harmony Biosciences Holdings, Inc. | HRMY | $1.9B | 12.02 | 2.19 | 18.2% | 5.17 |
| Astrana Health, Inc. | ASTH | $1.9B | 83.46 | 2.41 | 2.9% | 18.67 |
| Stoke Therapeutics, Inc. | STOK | $1.9B | -272.47 | 5.32 | -2.0% | -95.36 |
| Peer Median | - | 4.45 | 2.68 | -0.9% | 1.38 | |