Stock Track | Iovance Stock Plummets Despite Solid Q3 Results and Outlook

Stock Track11-08

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) saw its stock price plunge by a staggering 13.22% on November 8, 2024, in a surprising turn of events given the company's strong financial performance and positive updates for the third quarter and first nine months of 2024.

The biotechnology company reported total revenue of $58.6 million in the third quarter, primarily driven by $42.1 million in sales of its newly launched cancer therapy Amtagvi (lifileucel) and $16.5 million in sales of Proleukin, a treatment used in the Amtagvi regimen. This represented a significant increase from the prior year, fueled by the successful commercial launch of Amtagvi in the U.S. in February 2024.

Notably, Iovance's third-quarter results beat Wall Street expectations. The company reported an adjusted loss of $0.28 per share, better than the average analyst estimate of a $0.30 loss per share. Additionally, revenue surpassed projections, coming in at $58.56 million compared to the consensus estimate of $53.81 million.

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(NASDAQ: IOVA) saw its stock price plunge by a staggering 13.22% on November 8, 2024, in a surprising turn of events given the company's strong financial performance and ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IOVA","symbol_name":"Iovance Biotherapeutics, Inc.","start_time":0,"source_url":"","article_id":"1154561052","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154561052","pubTimestamp":1731076631,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Iovance Biotherapeutics, Inc.  saw its stock price plunge by a staggering 13.22% on November 8, 2024, in a surprising turn of events given the company's strong financial performance and positive updates for the third quarter and first nine months of 2024.The biotechnology company reported total revenue of $58.6 million in the third quarter, primarily driven by $42.1 million in sales of its newly launched cancer therapy Amtagvi  and $16.5 million in sales of Proleukin, a treatment used in the Amt","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IOVA":"Iovance Biotherapeutics, Inc."},"translate_title":"尽管第三季度业绩和前景稳健，但Iovance股价仍暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IOVA":1},"content_text":"Iovance Biotherapeutics, Inc. 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