Iovance Biotherapeutics Q3 revenue rises 80% on Amtagvi demand

Overview

• US biotech firm's Q3 revenue rose ~80% yr/yr, driven by Amtagvi demand

• Net loss, operating loss, and pretax loss for Q3 all beat analyst expectations

• Gross margin improved to ~60% on higher Amtagvi sales and cost optimization

Outlook

• Iovance maintains 2026 total revenue guidance of $410 mln to $420 mln

• Company expects gross margin improvements to continue, excluding one-time items

• Iovance anticipates at least 110 authorized treatment centers active by end of 2026

Result Drivers

• AMTAGVI DEMAND - Co said Q3 revenue and gross margin growth were driven by continued demand for Amtagvi in the U.S.

• COST OPTIMIZATION - Gross margin improvement attributed to effective internal cost optimization programs across product production

• R&D EXPENSE REDUCTION - R&D expenses fell ~16% from Q2, attributed to operational efficiencies, marking the fifth straight quarter of improvements

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Iovance Biotherapeutics Inc is $15.50, about 78.2% above its November 4 closing price of $8.70

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)