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Dec 31, 2022
Iovance Q4 2022 Earnings Report
Reported fourth quarter and full year 2022 financial results and corporate updates.
Key Takeaways
Iovance Biotherapeutics reported a net loss for the fourth quarter ended December 31, 2022, was $105.3 million, or $0.64 per share. The company had $478.3 million in cash, cash equivalents, investments and restricted cash at December 31, 2022. They raised approximately $450.0 million during the fourth quarter of 2022 and first quarter of 2023 to date.
Initiated first BLA for lifileucel in advanced melanoma.
Preparing for launch and advancing immuno-oncology pipeline.
Planned acquisition of Proleukin® will provide an immediate source of revenue, streamline supply chain and logistics, reduce future cost of goods and lower expenses for IL-2 used with TIL therapies.
Top priorities in 2023 are to complete the BLA submission in the first quarter, receive FDA approval, then successfully launch lifileucel.
Forward Guidance
The company's cash position, including proceeds from their ATM facility, is expected to support their planned acquisition of Proleukin® as well as commercial launch preparations, internal manufacturing and clinical pipeline expansion into several milestones.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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