Stock Track | Iovance Stock Plunges Despite Strong Q3 Results and Positive Updates

Stock Track11-08

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) saw its stock price plunge by 9.61% in after-hours trading on November 7, 2024, despite reporting strong financial results and positive corporate updates for the third quarter and first nine months of 2024.

The biotechnology company announced 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, which is used in the Amtagvi treatment regimen. This represented a significant increase from the prior year, driven by the successful commercial launch of Amtagvi in the U.S. in February 2024.

Iovance reaffirmed its guidance for total product revenue in the range of $160 to $165 million for the full year 2024, reflecting three quarters of Amtagvi sales. The company also maintained its guidance for total product revenue in the range of $450 to $475 million for the full year 2025, the first full calendar year of Amtagvi sales.

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(NASDAQ: IOVA) saw its stock price plunge by 9.61% in after-hours trading on November 7, 2024, despite reporting strong financial results and positive corporate updates ...</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":"1156163553","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156163553","pubTimestamp":1731049863,"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 9.61% in after-hours trading on November 7, 2024, despite reporting strong financial results and positive corporate updates for the third quarter and first nine months of 2024.The biotechnology company announced 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, which is used in the Amtagvi treatment regim","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IOVA":"Iovance Biotherapeutics, Inc."},"translate_title":"尽管第三季度业绩强劲且更新积极，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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