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Mar 31, 2022
Iovance Q1 2022 Earnings Report
Reported first quarter 2022 financial results and corporate updates.
Key Takeaways
Iovance Biotherapeutics reported a net loss of $91.6 million for the first quarter of 2022, with research and development expenses increasing to $68.3 million and general and administrative expenses rising to $23.4 million. The company's cash, cash equivalents, investments, and restricted cash totaled $516.0 million as of March 31, 2022, expected to fund operations into 2024.
First BLA submission planned in August 2022.
Favorable feedback from the FDA on potency assays and assay matrix.
Continue to enroll patients in clinical studies to investigate TIL therapies in multiple solid tumors.
FDA has allowed an IND to proceed with a clinical trial of PD-1 inactivated, gene-edited TIL therapy, IOV-4001.
Forward Guidance
Iovance expects its cash position to be sufficient to fund current and planned operations into 2024 and is focused on launch preparations for late-stage clinical assets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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