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Sep 30, 2022
Iovance Q3 2022 Earnings Report
Iovance reported third quarter and year-to-date 2022 financial results, initiated the first Biologics License Application (BLA) submission, and is on track to complete it in 4Q22.
Key Takeaways
Iovance Biotherapeutics reported a net loss for the third quarter ended September 30, 2022, of $99.6 million, or $0.63 per share, with research and development expenses at $72.5 million and general and administrative expenses at $27.9 million. The company had $366.6 million in cash, cash equivalents, investments and restricted cash at September 30, 2022, which is expected to fund operations into 2024.
Iovance initiated the rolling BLA submission for lifileucel and is on track to complete it in the fourth quarter.
Six active clinical trials of TIL therapy are underway.
The company's cash position is expected to be sufficient to fund current and planned operations into 2024.
Iovance is preparing for its first potential FDA approval and commercial launch.
Historical Earnings Impact
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