Iovance Biotherapeutics Inc (IOVA) Q3 2024 Earnings Call Highlights: Surpassing Revenue ...

GuruFocus.com11-08

Total Product Revenue (Q3 2024): $58.6 million, exceeding guidance of $53 million to $55 million. Amtagvi Revenue (Q3 2024): $41 million. Proleukin Revenue (Q3 2024): $16.5 million. Year-to-Date Total...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIovance Biotherapeutics Inc (IOVA) Q3 2024 Earnings Call Highlights: Surpassing Revenue ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 21:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/iovance-biotherapeutics-inc-iova-q3-130327674.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Total Product Revenue (Q3 2024): $58.6 million, exceeding guidance of $53 million to $55 million.\nAmtagvi Revenue (Q3 2024): $41 million.\nProleukin Revenue (Q3 2024): $16.5 million.\nYear-to-Date Total...</p>\n\n<a href=\"https://finance.yahoo.com/news/iovance-biotherapeutics-inc-iova-q3-130327674.html\">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":"https://finance.yahoo.com/news/iovance-biotherapeutics-inc-iova-q3-130327674.html","article_id":"2481039491","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/7BnTPpaAar2M0vPaZN98Xg--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/3e7b6706491d3d6b8f6739b339f2caf4"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481039491","pubTimestamp":1731071007,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Total Product Revenue : $58.6 million, exceeding guidance of $53 million to $55 million.Net Loss : $83.5 million or $0.28 per share.Net Loss : $293.6 million or $1.03 per share.Selling, General and Administrative Expenses : $39.6 million.Full Year 2024 Revenue Guidance: $160 million to $165 million.Full Year 2025 Revenue Guidance: $450 million to $475 million.Cash Burn Guidance : $320 million to $340 million, excluding one-time expenses.GuruFocus has detected 2 Warning Signs with IOVA.For the complete transcript of the earnings call, please refer to the full earnings call transcript.Iovance Biotherapeutics Inc  reported third-quarter total product revenue of $58.6 million, surpassing their guidance of $53 million to $55 million.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"IOVA":"Iovance Biotherapeutics, Inc."},"translate_title":"Iovance Biotherapeutics Inc(IOVA)2024年第三季度收益看涨期权亮点：超过收入...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IOVA":1},"content_text":"Total Product Revenue (Q3 2024): $58.6 million, exceeding guidance of $53 million to $55 million.\nAmtagvi Revenue (Q3 2024): $41 million.\nProleukin Revenue (Q3 2024): $16.5 million.\nYear-to-Date Total Product Revenue (2024): $90.4 million.\nAmtagvi Revenue Year-to-Date (2024): $54.9 million.\nProleukin Revenue Year-to-Date (2024): $35.5 million.\nNet Loss (Q3 2024): $83.5 million or $0.28 per share.\nNet Loss (First Nine Months 2024): $293.6 million or $1.03 per share.\nGross Margin (Q3 2024): $25.6 million against revenue of $58.6 million.\nCash Position (as of September 30, 2024): Approximately $403.8 million.\nResearch and Development Expenses (Q3 2024): $68.2 million.\nSelling, General and Administrative Expenses (Q3 2024): $39.6 million.\nFull Year 2024 Revenue Guidance: $160 million to $165 million.\nFull Year 2025 Revenue Guidance: $450 million to $475 million.\nCash Burn Guidance (Full Year 2024): $320 million to $340 million, excluding one-time expenses.\n\n\nWarning! GuruFocus has detected 2 Warning Signs with IOVA.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nIovance Biotherapeutics Inc (NASDAQ:IOVA) reported third-quarter total product revenue of $58.6 million, surpassing their guidance of $53 million to $55 million.\nAmtagvi's adoption and demand are strong, with 126 patients infused since its launch, indicating robust market acceptance.\nThe company has favorable medical coverage policies, with approximately 75% of Amtagvi patients covered by private payers.\nIovance Biotherapeutics Inc (NASDAQ:IOVA) is expanding its network of authorized treatment centers (ATCs), aiming to reach 70 ATCs by year-end.\nThe company is on track to achieve its full-year 2024 revenue guidance of $160 million to $165 million and anticipates significant revenue growth in 2025 and beyond.\n\n Negative Points \n\nThe company reported a net loss of $83.5 million for the third quarter of 2024, although this is an improvement from the previous year.\nThere are concerns about potential impacts on infusion schedules due to upcoming holidays, which could affect revenue projections.\nThe cost of sales remains high, with $39.8 million reported for the third quarter, impacting gross margins.\nResearch and development expenses, although decreased, remain substantial at $68.2 million for the third quarter.\nThe company is still working on optimizing manufacturing processes to improve turnaround times and reduce costs.\n\n Q & A Highlights \nQ: Can you discuss the potential impact of upcoming holidays on patient infusions and whether this might affect your annual guidance? A: Frederick Vogt, Interim CEO, explained that while there might be a lull during the holidays due to patients and physicians taking time off, the company has accounted for this in their projections. They expect to perform well in the quarter despite any holiday-related slowdowns.\nQ: How do you anticipate the IL-2 stocking levels to change over time, and what are the dynamics affecting these levels? A: Frederick Vogt noted that they are currently stocking with three major distributors in the U.S. and expect the numbers to remain steady, with potential for growth in 2025 as all main distributors are stocked up.\nQ: Can you provide more details on preconditioning happening before Amtagvi arrives at ATCs and whether this reflects improved manufacturing out-of-spec rates? A: Frederick Vogt confirmed that experienced ATCs are increasingly comfortable with preconditioning before Amtagvi's arrival, reflecting confidence in the manufacturing process and out-of-spec rates.\nQ: How are the 82 infusions from the last quarter distributed across the months, and what drives the month-to-month growth? A: Frederick Vogt stated that there was month-over-month growth in infusions, driven by increased manufacturing capacity and demand at ATCs. Improved manufacturing success rates also contribute to this growth.\nQ: What are the operational levers to achieve the 70% gross margin goal, and how are you progressing towards it? A: Frederick Vogt and Jean-Marc Bellemin, CFO, explained that scaling up the launch, especially using the ICTC facility, helps reduce costs. They are also focusing on operational excellence and process optimization to improve margins.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481039491"}