Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Q4 2024 Earnings Conference Call February 27, 2024 4:30 PM ET Company Participants Sara Pellegrino - SVP, IR and Corporate Communications Fred Vogt - Interim CEO and President Dan Kirby - CCO Igor Bilinsky - COO Jean-Marc Bellemin - CFO Friedrich Graf Finckenstein - CMO Conference Call Participants Andrea Newkirk - Goldman Sachs Peter Lawson - Barclays Ben Burnett - Stifel Colleen Kusy - Baird Yanan Zhu - Wells Fargo Securities Asthika Goonewardene - Truist Reni ...

Iovance Biotherapeutics (IOVA) Q4 2024 Earnings Call March 01, 2025 01:56 AM ET Company Participants Sara Pellegrino - Senior Vice President, Investor Relations and Corporate CommunicationsFrederick Vogt - Interim CEO, President, General Counsel & Corporate SecretaryDan Kirby - Chief Commercial OfficerIgor Bilinsky - Chief Operating OfficerJean-Marc Bellemin - Chief Financial OfficerFriedrich Graf Finckenstein - Chief Medical OfficerAndrea Newkirk - Biotechnolgy Equity ResearchBenjamin Burnett - DirectorNic ...

Iovance Biotherapeutics (IOVA) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.70%. A quarter ago, it was expected that this biotechnology company would post a loss of $0.31 per share when it actually produced a loss of $0.28, delivering a surprise of 9.68%.Over the last four quarters, the ...

FDA Approvals and Product Launches - Amtagvi® (lifileucel) received FDA approval on February 16, 2024, for treating adult patients with unresectable or metastatic melanoma previously treated with a PD-1 blocking antibody [596]. - The company plans to launch Amtagvi® in additional markets, including the EU, UK, Canada, Switzerland, and Australia, with potential annual addressable patients exceeding 20,000 [588]. - The iCTC is the first FDA-approved facility for commercial TIL cell therapy, allowing the company to control manufacturing capacity and product quality [606]. Manufacturing and Capacity - The iCTC manufacturing facility has a capacity to treat several thousand cancer patients annually, with ongoing expansion expected to increase capacity to over 5,000 patients per year [606]. - The company has conducted over 700 patient treatments with TIL cell therapy products in clinical trials, demonstrating the viability of its proprietary manufacturing processes [605]. Financial Performance - Revenue for the year ended December 31, 2024, increased by $162.9 million, or 13,698%, compared to the same period in 2023, driven by the acquisition of worldwide rights to Proleukin® and the commercial launch of Amtagvi® [631]. - Amtagvi® generated revenue of $103.6 million in 2024, while Proleukin® contributed $60.5 million, marking a significant increase in product sales [631]. - The company began generating revenue for Amtagvi® in the second quarter of 2024 following its FDA approval in February 2024 [631]. Clinical Trials and Research Development - The company is conducting multiple clinical trials for lifileucel in various cancers, including advanced melanoma, non-small cell lung cancer, and endometrial cancer, with significant patient enrollment expected [612]. - IOV-4001, a next-generation TIL cell therapy, is currently in a Phase 2 clinical trial for advanced melanoma and NSCLC, utilizing TALEN® gene-editing technology [612]. - IOV-5001, another next-generation TIL therapy, is in IND-enabling studies, with a pre-IND meeting planned with the FDA in Q1 2025 [613]. Expenses and Financial Outlook - The company anticipates an increase in selling, general, and administrative expenses as it executes the launch of Amtagvi® and expands its market presence [627]. - Research and development expenses are expected to continue as the company conducts clinical trials for various product candidates, with a potential decrease in these expenses as commercial activities increase [625]. - The company expects to continue incurring net losses in the future as it invests in clinical and internal research and development programs [644]. Intellectual Property - The company has established a leading intellectual property portfolio with over 75 U.S. patents related to TIL cell therapy, which are expected to extend to October 2037 or January 2038 [615]. Cash Flow and Liquidity - As of December 31, 2024, the company had $330.1 million in cash, cash equivalents, and investments, indicating a strong liquidity position [659]. - Cash used in operating activities decreased by $8.8 million to $353.0 million in 2024, reflecting improved revenue generation from product commercialization [669]. Acquisitions and Inventory - Proleukin® (aldesleukin) was acquired in May 2023, providing an additional revenue source and securing the supply chain for the treatment regimen [603]. - The Proleukin® inventory previously held by distributors has been substantially sold, leading to significant re-stocking demand from specialty distributors in the second and third quarters of 2024 [631]. Tax and Regulatory Matters - The income tax benefit for 2023 was $3.5 million, resulting from the realization of deferred taxes for operations in the UK [657]. - The company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements, effective for fiscal year 2025 [703]. Market and Currency Considerations - The majority of product sales during the year ended December 31, 2024, were denominated in U.S. dollars, with some sales in foreign currencies [708]. - Foreign currency transaction gains and losses were immaterial for the years ended December 31, 2024, and 2023 [708].

Corporate Overview February 2025 © 2025, Iovance Biotherapeutics, Inc. © 2025, Iovance Biotherapeutics, Inc. 1 1 Forward-Looking Statements Certain matters discussed in this presentation are "forward-looking statements" of Iovance Biotherapeutics, Inc. (hereinafter referred to as the "Company," "we," "us," or "our") within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Without limiting the foregoing, we may, in some cases, use terms such as "predicts," "believes," "potent ...

Exhibit 99.1 Iovance Biotherapeutics Reports Financial Results and Corporate Updates for Fourth Quarter and Full Year 2024 Significant Demand for Amtagvi® (Lifileucel) Continues with Total Product Revenue of $73.7M in 4Q24 and $164.1M in FY24, Achieving Upper End of FY24 Guidance Range of $160M-$165M Reaf irming FY25 Total Product Revenue Guidance of $450M-$475M FY25 Cash Burn Anticipated to be Under $300M 2025 Regulatory Approvals for Amtagvi Expected in the UK, EU, and Canada Enrollment Accelerating Acros ...

Significant Demand for Amtagvi® (Lifileucel) Continues with Total Product Revenue of $73.7M in 4Q24 and $164.1M in FY24, Achieving Upper End of FY24 Guidance Range of $160M-$165M Reaffirming FY25 Total Product Revenue Guidance of $450M-$475M FY25 Cash Burn Anticipated to be Under $300M 2025 Regulatory Approvals for Amtagvi Expected in the UK, EU, and Canada Enrollment Accelerating Across Global Registrational Trials in Frontline Advanced Melanoma and Previously Treated Advanced NSCLC SAN CARLOS, Calif., F ...

Significant Demand for Amtagvi® (Lifileucel) Continues with Total Product Revenue of $73.7M in 4Q24 and $164.1M in FY24, Achieving Upper End of FY24 Guidance Range of $160M-$165M Reaffirming FY25 Total Product Revenue Guidance of $450M-$475M FY25 Cash Burn Anticipated to be Under $300M 2025 Regulatory Approvals for Amtagvi Expected in the UK, EU, and Canada Enrollment Accelerating Across Global Registrational Trials in Frontline Advanced Melanoma and Previously Treated Advanced NSCLC SAN CARLOS, Calif., F ...

Industry Overview - The fourth-quarter 2024 earnings season for the Medical sector is concluding, with major companies reporting results, primarily in pharma/biotech and medical devices [1] - As of February 19, 85.2% of companies in the Medical sector reported quarterly earnings, with 82.7% surpassing earnings estimates and 78.8% exceeding revenue expectations [2] - Year-over-year earnings increased by 14.2%, while revenues rose by 9.4%, with overall fourth-quarter earnings expected to increase by 13.8% and sales by 9.3% compared to the previous year [2] Company Summaries Viatris (VTRS) - Viatris has a mixed earnings surprise history, beating estimates in two of the last four quarters with an average surprise of 0.33% [4] - For the upcoming quarter, Viatris has an Earnings ESP of -3.51% and a Zacks Rank of 4, with a consensus estimate for earnings per share at 57 cents [6] - Sales growth is anticipated from emerging markets and business expansion in Greater China, alongside improved performance in the generics business due to new product launches [7] Perrigo (PRGO) - Perrigo also has a mixed earnings surprise history, beating estimates in three of the last four quarters with an average surprise of 8.41% [8] - The company has an Earnings ESP of -4.92% and a Zacks Rank of 4, with a consensus estimate for earnings per share at 92 cents [8] - Revenue declines are expected in its Consumer Self Care segments due to lower net product sales in the U.S. and unfavorable currency movements [9] Novavax (NVAX) - Novavax has struggled, missing earnings expectations in three of the last four quarters, with an average negative surprise of 56.95% [11] - The company has an Earnings ESP of -48.54% and a Zacks Rank of 3, with a consensus estimate for a loss per share at 75 cents [11] - Vaccine sales for Novavax are expected to be minimal during the quarter [12] Intellia Therapeutics (NTLA) - Intellia has a mixed earnings surprise history, beating estimates in three of the last four quarters with an average surprise of 4.02% [13] - The company has an Earnings ESP of +35.03% and a Zacks Rank of 2, indicating a good chance of an earnings beat, with a consensus estimate for a loss per share at $1.32 [14] - Revenue is likely to be driven by collaboration revenues, with updates on clinical-stage pipeline candidates expected during the conference call [15] Iovance Biotherapeutics (IOVA) - Iovance has a mixed earnings surprise history, beating estimates in three of the last four quarters with an average surprise of 5.55% [16] - The company has an Earnings ESP of +7.90% and a Zacks Rank of 4, with a consensus estimate for a loss per share at 27 cents [16] - Revenue growth is anticipated from sales of its marketed drugs, Proleukin and the recently-approved TIL therapy Amtagvi [17]

Core Insights - Iovance Biotherapeutics, Inc. will report its fourth quarter and full year 2024 financial results and corporate updates on February 27, 2025 [1] - A live audio webcast will be hosted by management to discuss these results at 4:30 p.m. EST on the same day [2] - The company aims to be a global leader in tumor infiltrating lymphocyte (TIL) therapies for cancer treatment, with a focus on continuous innovation [5] Financial Results and Corporate Updates - The financial results for Q4 and full year 2024 will be disclosed on February 27, 2025 [1] - The live audio webcast for discussing these results will be available for registration [2][4] Upcoming Events - Iovance will participate in TD Cowen's 45th Annual Health Care Conference on March 3, 2025, and Barclays 27th Annual Global Healthcare Conference on March 13, 2025 [8]