Iovance Biotherapeutics Inc (IOVA)

[badgerkid]

Sunman, per the transcript: Jean-Marc Bellemin: "Thanks Igor. Today, I will review our current cash position as well as our results for the quarter ended on March 31, 2024. I will also highlight our 2024 outlook. As of March 31, 2024, Iovance had cash, cash equivalents, investments and restricted cash of approximately $362.6 million. The current cash position and anticipated revenue from Amtagvi and Proleukin are expected to be sufficient to fund current and planned operation well into the second half of 2025..."

The company has consistently under promised and overdelivered. An additional offering is always on the table, and if it looks needed, that would be in line with your 2025 Q2 timeline. But with the above statement, I think the patient numbers that Iovance is projecting (albeit internally) will be a bit higher and maybe significantly so compared to your estimates. If revenue is steady and growing, additional funding may take the path of non-dilutive means such as standard business loans or other such financing. If the company is close to a buyout consideration, I would assume the majors will not want to dilute their positions.

Just thinking out loud a bit here. I haven't done a deep dive on this angle as of yet. Have a great weekend.