Skin Cancer-Focused Iovance Biotherapeutics Reports Better-Than-Expected 2024, 2025 Outlook, Stock Surges
Portfolio Pulse from Vandana Singh
Iovance Biotherapeutics Inc (NASDAQ:IOVA) reported better-than-expected second-quarter earnings and issued an optimistic outlook for 2024 and 2025. The company reported Q2 sales of $31.12 million, surpassing the consensus of $24.6 million, and an EPS loss of $(0.34), beating the consensus of $(0.35). Iovance expects significant revenue growth driven by its skin cancer cell therapy, Amtagvi, with projected revenues of $160-$165 million for 2024 and $450-$475 million for 2025. The stock surged 25.19% following the announcement.
August 09, 2024 | 3:20 pm
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Iovance Biotherapeutics reported better-than-expected Q2 earnings and issued an optimistic outlook for 2024 and 2025, driving a 25.19% surge in its stock price. The company expects significant revenue growth from its skin cancer cell therapy, Amtagvi.
The better-than-expected earnings and optimistic future revenue projections indicate strong financial health and growth potential for Iovance Biotherapeutics. This has led to a significant increase in the stock price, reflecting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100