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Iovance Biotherapeutics, Inc. (IOVA) stock

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NASDAQ: IOVA Nasdaq Biotechnology Next results ~November 5, 2026

C Fundamentals grade

Iovance Biotherapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.5

Valuation models combined (2)

Base case. Range ~$3.3–$4.0. Weighted average of 2 models (growth cash-flow model, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Iovance Biotherapeutics, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds172 adding, 99 cuttingOf 42 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Iovance Biotherapeutics files

Where Iovance Biotherapeutics stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $325m, up 34.5% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to -91.2% from -134.0% a year earlier. Operating margin widened to -92.7% from -170.0%. The diluted share count is up 29.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $1.45 a share, against a share price of $9.46.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Iovance Biotherapeutics, Inc.'s trailing-twelve-month revenue grew 34.5% year on year, with a free-cash-flow margin of -91.2%. Where it lags: gross margin of 48.4% ranks 68 of 75 biotechnology companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 8.4% while net income grew 25.7%: a 17pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 34.5% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Margins widening. Operating margin is up 77.3 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -92.7%: costs exceed revenue.
  • Burning cash. Free cash flow was -91.2% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 29.6% in a year.
  • High sales multiple. The shares trade at 10 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 111% and a beta of 1.4 against the S&P 500.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.11 against an average estimate of -$0.13: beat by 18.4%
Revenue
$99m, up 65.7% on a year earlier
Share reaction
+46.1% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
total revenue $350m to $370m (2026)
Next report
November 5, 2026; average EPS estimate -$0.09

Iovance Biotherapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.4%
  • 1 week-41.8%
  • 1 month-43.6%
  • This year+193.8%
  • 1 year+307.1%
  • 5 years-67.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$325M
Operating margin
-92.7%
Net margin
-89.1%
EPS (TTM, diluted)
$-0.71

Growth

Revenue growth
+34.5%
Change in growth rate
+0.3 pts
Share count change
+29.6%

Cash

Free cash flow (TTM)
-$296M
FCF margin
-91.2%
Stock pay % of revenue
14.4%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Announcement
  4. Announcement
  5. Results
  6. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Iovance Biotherapeutics, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Iovance Biotherapeutics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.32 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.3 ~$1.6–$4.9 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$4.0 ~$4.1–$16 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.5 ~$3.3–$4.0 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Iovance Biotherapeutics, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2015201620172018202320242025Now
Share price$7.72$6.95$8.00$8.85$8.13$7.40$2.73$8.02
Market value$343m$384m$522m$861m$1.9bn$2.1bn$976m$3.3bn
+ Net debt (− = net cash)−$34m−$107m−$145m−$82m−$114m−$115m−$163m−$111m
Enterprise value$309m$277m$377m$779m$1.8bn$2.0bn$812m$3.2bn
Multiples
Price / sales ————n/m13.1x3.7x10.1x
Price / earnings ————————
Price / free cash flow ————————
EV / EBITDA ————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $115m and EPS of −$0.09 (range −$0.10 to −$0.07) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.45 +59% $413m +57%
Next −$0.20 +57% $594m +44%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −20.0% on 90 days ago. In the last 30 days, 5 analysts raised Iovance Biotherapeutics, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Iovance Biotherapeutics, Inc., last 90 days
−$0.60 −$0.40 −$0.20 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.56 Current fiscal year, 60 days ago: −$0.50 Current fiscal year, 30 days ago: −$0.49 Current fiscal year, 7 days ago: −$0.45 Current fiscal year, Now: −$0.45 −$0.45 Next fiscal year, 90 days ago: −$0.32 Next fiscal year, 60 days ago: −$0.29 Next fiscal year, 30 days ago: −$0.26 Next fiscal year, 7 days ago: −$0.20 Next fiscal year, Now: −$0.20 −$0.20

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.56−$0.32
60 days ago −$0.50−$0.29
30 days ago −$0.49−$0.26
7 days ago −$0.45−$0.20
Now −$0.45−$0.20

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.13 −$0.11 +18.4%
Mar 2026 −$0.15 −$0.19 −23.8%
Dec 2025 −$0.18 −$0.18 −2.0%
Sept 2025 −$0.26 −$0.25 +2.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • total revenue 2026 $350m to $370m
    “Based on our second-quarter performance and strong demand trends, we are reviewing our previously issued 2026 revenue guidance of $350 million to $370 million and will provide an update during the third quarter.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

9 analysts, Oct 2026
Buy778%
Hold222%
Sell00%

Monthly trend

  1. Oct 20262529
  2. Sep 202626210
  3. Aug 20262529
  4. Jul 20262529

Counts of recommendations published by analysts covering Iovance Biotherapeutics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.9%
of tradable shares
Days to cover
3.26
at average volume
Short interest, 1 month
−32%
to October 15, 2026
Held by institutions
71%
of shares
Held by insiders
0.4%
of shares
Employees
975
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +307.1%

$1.97 on October 31, 2025 to $8.02

ThenNowEffect
Revenue (last 12 months) $242m $325m +34.5%
P/S multiple 2.6x 10.1x +292.2%
Share count 316m 410m −22.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
IOVA−59%−67%+27%−9%−63%+194%
Industry peers (median)−35%−56%−18%−29%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
IOVA33%25%42%33%33%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
IOVA−69%−71%−64%−59%−79%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 97% from February 8, 2021 to May 16, 2025. Getting back needed a 3068% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.81 – $14.86
From 52-week high
−46.0%
vs 50-day average
−29.4%
vs 200-day average
+36.7%
Volatility (1 year)
111%
Beta vs S&P 500
1.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±29.0%
After a week
5 up, 7 down
typical move ±32.9%
After a month
5 up, 7 down
typical move ±34.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +46.1% +0.5% +50.2% +102.5%
May 7, 2026 −11.5% +0.5% −13.9% −2.2%
February 24, 2026 +32.5% +1.6% +29.8% +29.8%
November 6, 2025 +27.1% −1.0% +33.1% +27.6%
August 7, 2025 −18.2% +0.7% −5.0% −7.8%
May 8, 2025 −44.1% +0.6% −43.8% −29.4%
February 27, 2025 −20.7% −0.1% −29.9% −33.5%
November 7, 2024 −12.8% +1.2% −29.2% −26.4%
August 8, 2024 +35.3% +2.8% +45.6% +34.5%
May 9, 2024 −18.1% +0.7% −22.1% −39.8%
February 28, 2024 −8.9% +0.2% −1.8% −15.2%
February 20, 2024 +72.3% −0.5% +90.9% +63.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Iovance Biotherapeutics, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Iovance Biotherapeutics, Inc.
$0 $100M $200M $300M $400M FY18 Q4 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY18 Q4: $0 Revenue (TTM), FY19 Q1: $0 Revenue (TTM), FY24 Q1: $1.9M Revenue (TTM), FY24 Q2: $32.8M Revenue (TTM), FY24 Q3: $90.9M Revenue (TTM), FY24 Q4: $164.1M Revenue (TTM), FY25 Q1: $212.7M Revenue (TTM), FY25 Q2: $241.5M Revenue (TTM), FY25 Q3: $250.4M Revenue (TTM), FY25 Q4: $263.5M Revenue (TTM), FY26 Q1: $285.6M Revenue (TTM), FY26 Q2: $325M $325M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY18 Q4 $0
FY19 Q1 $0
FY24 Q1 $1.9M
FY24 Q2 $32.8M
FY24 Q3 $90.9M
FY24 Q4 $164.1M
FY25 Q1 $212.7M
FY25 Q2 $241.5M
FY25 Q3 $250.4M
FY25 Q4 $263.5M
FY26 Q1 $285.6M
FY26 Q2 $325M
Revenue growth, TTM YoY Iovance Biotherapeutics, Inc.
0% 5000% 10000% 15000% FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 Revenue growth, TTM YoY, FY25 Q1: 11070.1% Revenue growth, TTM YoY, FY25 Q2: 637.0% Revenue growth, TTM YoY, FY25 Q3: 175.6% Revenue growth, TTM YoY, FY25 Q4: 60.6% Revenue growth, TTM YoY, FY26 Q1: 34.3% Revenue growth, TTM YoY, FY26 Q2: 34.5% 34.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY25 Q1 11070.1%
FY25 Q2 637.0%
FY25 Q3 175.6%
FY25 Q4 60.6%
FY26 Q1 34.3%
FY26 Q2 34.5%
Operating margin (TTM) Iovance Biotherapeutics, Inc.
-30000% -20000% -10000% 0% FY24 Q1 FY24 Q3 FY25 Q1 FY25 Q3 FY26 Q2 Operating margin (TTM), FY24 Q1: -24549.6% Operating margin (TTM), FY24 Q2: -1401.4% Operating margin (TTM), FY24 Q3: -473.2% Operating margin (TTM), FY24 Q4: -240.9% Operating margin (TTM), FY25 Q1: -187.5% Operating margin (TTM), FY25 Q2: -170.0% Operating margin (TTM), FY25 Q3: -166.3% Operating margin (TTM), FY25 Q4: -153.1% Operating margin (TTM), FY26 Q1: -127.2% Operating margin (TTM), FY26 Q2: -92.7% -92.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 -24549.6%
FY24 Q2 -1401.4%
FY24 Q3 -473.2%
FY24 Q4 -240.9%
FY25 Q1 -187.5%
FY25 Q2 -170.0%
FY25 Q3 -166.3%
FY25 Q4 -153.1%
FY26 Q1 -127.2%
FY26 Q2 -92.7%
FCF margin (TTM) Iovance Biotherapeutics, Inc.
-30000% -20000% -10000% 0% FY24 Q1 FY24 Q3 FY25 Q1 FY25 Q3 FY26 Q2 FCF margin (TTM), FY24 Q1: -21275.3% FCF margin (TTM), FY24 Q2: -1222.0% FCF margin (TTM), FY24 Q3: -411.7% FCF margin (TTM), FY24 Q4: -221.9% FCF margin (TTM), FY25 Q1: -163.4% FCF margin (TTM), FY25 Q2: -134.0% FCF margin (TTM), FY25 Q3: -140.5% FCF margin (TTM), FY25 Q4: -127.6% FCF margin (TTM), FY26 Q1: -106.8% FCF margin (TTM), FY26 Q2: -91.2% -91.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 -21275.3%
FY24 Q2 -1222.0%
FY24 Q3 -411.7%
FY24 Q4 -221.9%
FY25 Q1 -163.4%
FY25 Q2 -134.0%
FY25 Q3 -140.5%
FY25 Q4 -127.6%
FY26 Q1 -106.8%
FY26 Q2 -91.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 0 0 0 0 1 164 264 325
Gross profit — — — — — — 0 71 90 157
EBITDA −23 −12 −27 −53 −92 −127 −449 −384 −390 −276
Operating income −23 −12 −28 −54 −93 −128 −461 −395 −403 −301
Net income −25 −12 −28 −53 −92 −124 −444 −372 −391 −290
Diluted EPS −$3.47 −$0.48 −$0.62 −$1.85 −$1.41 −$1.27 −$1.89 −$1.28 −$1.09 −$0.71
Growth (year on year)
Revenue — — — — — — — +>999% +60.6% +34.5%
Margins
Gross margin — — — — — — 13.1% 43.2% 34.3% 48.4%
EBITDA margin — — — — — — <−999% −234.1% −148.2% −85.0%
Operating margin — — — — — — <−999% −240.9% −153.1% −92.7%
Net margin — — — — — — <−999% −226.8% −148.4% −89.1%
Free-cash-flow margin — — — — — — <−999% −221.9% −127.6% −91.2%
Cash flow
Cash from operations −4 9 −18 −33 −79 −101 −362 −353 −302 −264
Capital spending 0 2 1 2 1 1 22 11 34 32
Free cash flow −4 7 −20 −34 −80 −102 −384 −364 −336 −296
Stock-based pay 3 4 9 19 12 20 63 110 62 47
Free cash flow after stock pay −6 3 −28 −53 −92 −122 −447 −474 −398 −343
Balance sheet
Cash 20 45 34 107 145 82 115 116 163 111
Total debt 0 0 0 0 0 0 1 1 — 0
Net debt (negative = net cash) −20 −45 −34 −107 −145 −82 −114 −115 −163 −111
Diluted shares 10m 25m 44m 55m 65m 97m 235m 290m 357m 410m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $916m
Short-term assets $464mLonger-term assets $451m
What it owes, and who funded it · $916m
Short-term liabilities $107mLonger-term liabilities $73mShareholders' equity $736m
  • Short-term assets cover short-term liabilities $464m of assets due within a year against $107m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $464m short-term assets against $73m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Iovance Biotherapeutics, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+29.6%
year over year
R&D spending
82.4%
of revenue
Days sales outstanding
115 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated IOVA ARVN ADPT VCEL VIR SNDX Median
Revenue, last 12 months $325m $317m $308m $306m $303m $290m $56m
Revenue growth, last 12 months 34.5% −15.0% 50.1% 23.0% >999% 159.7% 12.6%
Revenue growth, 3-year average — 26.1% 17.6% 19.8% −14.8% 177.8% 13.7%
Revenue growth, latest quarter 65.7% >999% 21.5% 22.5% >999% 81.6% 10.2%
Gross margin 48.4% — 75.6% 74.6% 96.1% — 82.9%
Operating margin −92.7% −5.7% −12.2% 6.0% −92.4% −61.7% −189.4%
Operating margin, 3-year average −554.7% −145.1% −66.8% 1.6% <−999% −781.5% −363.5%
Net margin −89.1% 2.9% −20.7% 7.9% −83.0% −72.3% −169.8%
Cash from operations / revenue −81.3% −65.4% −6.8% 22.7% −66.8% −61.2% −168.0%
Free-cash-flow margin −91.2% −65.9% −7.8% 20.1% −67.1% −61.2% −162.4%
Free-cash-flow margin, 3-year average −482.4% −135.2% −43.0% 5.3% <−999% −652.6% −310.0%
Stock pay / revenue 14.4% 11.6% 15.9% 12.2% 15.5% 18.2% 20.0%
Change in share count 29.6% −7.6% 4.1% 0.6% 8.2% 2.5% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 34.5% 12.6% 65 of 172
Change in growth rate Growth +0.3pp -0.1pp 80 of 172
Gross margin Profitability 48.4% 82.4% 68 of 75
Operating margin Profitability -92.7% -189.4% 75 of 175
Net margin Profitability -89.1% -157.3% 80 of 180
Free-cash-flow margin Cash generation -91.2% -145.4% 82 of 176
Stock pay as % of revenue Cash generation 14.4% 19.2% 75 of 179
Change in share count Balance sheet 29.6% 7.9% 129 of 156
Days sales outstanding Balance sheet 115 days 75 days 71 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Amtagvi $220M 83.5% ▲ 112.4%
Proleukin $43.5M 16.5% ▼ 28.1%
Geography
Region Revenue Share YoY
United States $259M 98.3% ▲ 60.8%
Outside the US $4.5M 1.7% ▲ 48.3%

From Iovance Biotherapeutics, Inc.'s 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.2B
Institutions reporting
290
Shares held vs prior quarter
▲ 6.6%
Positions opened / closed
42 / 34

Top buyers and sellers, Q2 2026: 172 institutions bought and 99 sold ; the biggest buyer was State Street Corp (+7.0M shares) and the biggest seller Invenomic Capital Management LP (−7.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $154M 37.0M 12.9% ▲ 18.9%
Mhr Fund Management LLC $121M 29.0M 10.1% 0.0%
State Street Corp $102M 24.5M 8.5% ▲ 40.3%
Two Sigma Investments, LP $79.1M 19.0M 6.6% ▲ 38.9%
Vanguard Capital Management LLC $75.7M 18.2M 6.3% ▲ 9.5%
Vanguard Portfolio Management LLC $59.9M 14.4M 5.0% ▲ 23.0%
Geode Capital Management, LLC $43M 10.3M 3.6% ▲ 20.4%
Millennium Management LLC $35.5M 8.5M 3.0% ▼ 9.4%
Dimensional Fund Advisors LP $26.9M 6.5M 2.3% ▲ 144.2%
Palo Alto Investors LP $22M 5.3M 1.8% ▼ 16.6%
Goldman Sachs Group Inc $21.2M 5.1M 1.8% ▼ 41.8%
Nuveen, LLC $20.8M 5.0M 1.7% ▲ 36.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Iovance Biotherapeutics, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 24, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Iovance Biotherapeutics, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Iovance Biotherapeutics, Inc. in brief

What does Iovance Biotherapeutics, Inc. do?
Iovance Biotherapeutics, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Iovance Biotherapeutics, Inc.'s stock ticker?
Iovance Biotherapeutics, Inc. trades under the ticker IOVA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Iovance Biotherapeutics, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Iovance Biotherapeutics, Inc. reported revenue of $325M, 34.5% higher than a year earlier, according to its SEC filings.
What is Iovance Biotherapeutics, Inc.'s free cash flow?
Iovance Biotherapeutics, Inc.'s free-cash-flow margin is -91.2% of revenue over the trailing twelve months, ranking 82 of the 176 biotechnology companies we cover.
Who are Iovance Biotherapeutics, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Mhr Fund Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Iovance Biotherapeutics, Inc.'s market cap?
On November 2, 2026, Iovance Biotherapeutics, Inc.'s market capitalisation was about $3.3B and net debt of -$111M. Market figures come from third-party market data and may be delayed.
Who are Iovance Biotherapeutics, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Iovance Biotherapeutics, Inc. are Arvinas, Inc., Adaptive Biotechnologies Corp, Vericel Corp, Vir Biotechnology, Inc. and Syndax Pharmaceuticals Inc. The side-by-side comparison below sets their revenue, margins and growth against Iovance Biotherapeutics, Inc.'s.
When is Iovance Biotherapeutics, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Iovance Biotherapeutics, Inc. announces its own schedule.