Iovance Biotherapeutics Inc (IOVA)

[surfkast]

It looks like the expectation of $2.03 million with revenue of just $715,000 caused the major adjustment. Doing a little DD and seeing what the analysists say I believe this will rebound quickly as everything else appears either on track or ahead.

Reiterates HC Wainwright & Co.: Buy to Buy 5/10/2024

Iovance Biotherapeutics Poised for Growth: Analyst Reiterates Buy Rating Amid Strong Q1 Performance and Promising Clinical Advancements

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Iovance Biotherapeutics (IOVA – Research Report), with a price target of $32.00.

Joseph Pantginis has given his Buy rating due to a combination of factors that suggest a strong potential for Iovance Biotherapeutics’ growth and profitability. The company’s recent earnings report for the first quarter of 2024 surpassed expectations with a lower-than-anticipated loss per share and showed a promising cash position. Pantginis notes the importance of Proleukin sales, which are now projected to substantially contribute to Iovance’s revenue throughout the year. Additionally, the analyst sees the enrollment progress of AMTAGVI therapy, with over 100 patients already enrolled and 60 more in the pipeline, as a sign of strong launch momentum that is expected to carry forward, particularly as the company aims to expand into global markets

https://markets.businessinsider.com/news/stocks/iovance-biotherapeutics-poised-for-growth-analyst-reiterates-buy-rating-amid-strong-q1-performance-and-promising-clinical-advancements-1033363090

The first quarter of 2024 was transformative for Iovance. It included:

Commercialization: Following FDA approval, Amtagvi's launch progressed rapidly, with over 100 patients enrolled via more than 40 authorized treatment centers.
Global strategy: Plans for regulatory submissions in Europe, Canada, and Australia reflect Iovance's ambition for global reach.
R&D drive: The ongoing Phase 3 TILVANCE-301 trial and other studies fortify the pipeline, emphasizing the strategic focus on TIL cell therapies.
Financial performance: Despite lower-than-expected revenue, strategic investments in R&D and commercialization are shaping long-term prospects.
Iovance also produces a melanoma cancer drug aldesleukin (originally approved for use back in the late 1990s) under the brand name Proleukin. Iovance is now recognizing all Proleukin revenues for commercial and clinical use and recently began significant sales to distributors. Iovance completed the transfer of marketing authorizations in Q1 and began distribution of Proleukin. Beginning in Q2, Iovance expects to recognize significant incremental revenues for Proleukin as part of the Amtagvi treatment regimen.

https://www.fool.com/data-news/2024/05/10/iovance-biotherapeutics-q1-revenue-falls-short/