Iovance Biotherapeutics reports Q2 EPS (47c), consensus (80c)

Reports Q2 revenue $ $238K…As of June 30, 2023, Iovance’s cash position was approximately $317.3M In July f Iovance raised estimated net proceeds from a common stock public offering of approximately $161.4 M Inclusive of the net proceeds from the offering, the current cash position is expected to fund Iovance’s operating plan into the end of 2024.Frederick Vogt, Ph.D., J.D., Interim President and Chief Executive Officer of Iovance, stated, “Iovance is making significant progress in executing on our goals. The Priority Review of our BLA for lifileucel in advanced melanoma remains on track and continues to progress well as we work collaboratively with FDA and approach a potential approval and launch this year. We acquired Proleukin , which will provide revenue, streamline our supply chain and logistics, reduce our future cost of goods and lower expenses for IL-2 used with TIL therapies. We are also excited about our NSCLC pipeline, with a registrational trial and positive preliminary data in post-anti-PD-1 patients and the upcoming full data presentation for TIL therapy in combination with pembrolizumab in ICI naive patients. We are well positioned to execute on our regulatory, pipeline, manufacturing and commercial launch activities to advance our mission to be the global leader in TIL therapy.”