Earnings ·
Iovance reports Q3 revenue of $122M, up ~80% YoY, with gross margin reaching ~60%
IOVAIovance Biotherapeutics, Inc.
Iovance Biotherapeutics reported third quarter 2026 total product revenue of approximately $122 million, an increase of roughly 80% from the prior year period and about 22% from the second quarter. U.S. Amtagvi revenue grew approximately 77% year-over-year to ~$102 million, while global Proleukin revenue was ~$20 million. Gross margin expanded to ~60%, up from 56% in the previous quarter, driven by higher sales volume and cost optimization. Research and development expenses decreased by approximately 16% compared to the second quarter. The company remains on track for its full-year 2026 total revenue guidance of $410 million to $420 million and reported a cash position of ~$382 million as of September 30, 2026. Iovance Biotherapeutics is a commercial biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer.