IOVA · Iovance Biotherapeutics, Inc.

Iovance delivered strong first quarter 2026 financial results, reporting ~$71 million in total product revenue — a ~45% increase over Q1 2025 — anchored by ~$60 million in U.S. Amtagvi revenue and ~$11 million in global Proleukin revenue. Gross margin held at 41%, absorbing one-time costs from annual maintenance at the Iovance Cell Therapy Center (iCTC), which has now been expanded to ensure uninterrupted supply. Management attributed growth to accelerating Amtagvi adoption across >90 authorized treatment centers (ATCs), earlier-line referrals supported by real-world data (52% ORR in ≤2 prior lines), and improved manufacturing turnaround time (≤32 days). R&D expenses declined 12% sequentially, reflecting ongoing operational efficiencies. The company raised full-year 2026 revenue guidance to $350–$370 million, with Q2 guidance of $86–$88 million, signaling confidence in sustained commercial momentum. Clinically, IOV-END-201 reported a 40% confirmed objective response rate in metastatic serous endometrial cancer — a high-unmet-need setting — prompting planned FDA engagement on an expedited approval pathway. Concurrently, CMO Dr. Friedrich Graf Finckenstein’s retirement in June 2026 marks a leadership transition amid active pipeline advancement, including registrational trials in NSCLC, sarcoma, and frontline melanoma, and next-generation TIL programs (IOV-5001, IOV-4001, IOV-3001). With $319 million in cash as of March 31, 2026, Iovance expects to fund operations into 2028, underpinning its path toward profitability through gross margin expansion and cost discipline.