Iovance Biotherapeutics

Iovance makes treatments that help the body fight cancer cells. It uses a patient's own immune cells to attack solid tumors. These therapies offer new options for people with advanced skin cancer.

Using Immune Cells as Medicine

• Amtagvi: One-time personalized therapy for adults with advanced skin cancer who have already tried other medical treatments.
• Proleukin: Injectable protein drug used during the treatment process to help the immune cells grow and stay active.
• Clinical Pipeline: Investigational treatments for lung and cervical cancers currently being tested in advanced medical studies.

Strategic Moves and New Rights

• Acquired the global rights to Proleukin from Clinigen in May 2023 to secure a key part of its main treatment process.
• Entered a research partnership with Cellectis to create genetically modified versions of its cancer treatments.
• Adopted a restructuring plan in August 2025 to focus its resources on selling and delivering its products.
• Collaborated with Novartis to develop a specific protein designed to make immune cell treatments more effective.

A First for Manufacturing

Iovance focuses on Tumor Infiltrating Lymphocyte (TIL) therapy, which uses immune cells found inside a patient's own tumor to fight the cancer. The company runs its own manufacturing center in Philadelphia, the first site approved by the U.S. Food and Drug Administration to produce this type of treatment.

Progress on the Balance Sheet

• Revenue reached $86.8 million in Q4 2025, up 17.7% from the previous year.
• Operating income was -$73.5 million in Q4 2025, an improvement of 15.1% over Q4 2024.
• Gross profit hit $187.3 million in Q4 2025, up 565.3% year-over-year.
• Free cash flow was -$61.9 million in Q4 2025, which narrowed by 20.1% from the previous year.

Bottom Line

Iovance has transitioned from a research firm into a commercial business by launching the first cell therapy for solid tumors. Its move toward internal manufacturing and expanded clinical trials helps the company reach more patients with different types of cancer.