IOVA Stock Heads For Best Day In Over 6 Years – Buyout Buzz Builds After Blowout Q2

The biotech company reported record second-quarter revenue fueled by strong sales of its cancer therapy Amtagvi.

• Total product revenue rose 66% year over year to $99.3 million, topping analysts’ estimates of $87.8 million, according to Fiscal.ai data.
• Iovance is set to review its previously issued 2026 revenue guidance following the strong Q2 earnings.
• Iovance expects its cash in hand to fund operations through the second half of 2028.

Shares of Iovance Biotherapeutics Inc. (IOVA) soared 34% on Thursday to their highest levels in over 18 months, after the biotech firm reported record second-quarter revenue that beat Wall Street expectations, driven by strong demand for its cancer therapy Amtagvi.

IOVA shares appear set to clock their biggest single-day gains since March 2020.

Record Q2 Revenue Puts Guidance In Spotlight

Total product revenue rose 66% year over year to $99.3 million, topping analysts’ estimates of $87.8 million, according to Fiscal.ai data. The company reported a loss of $0.11 per share, narrower than the expected $0.13 per share loss.

U.S. sales of Amtagvi, Iovance’s cell therapy for advanced melanoma, were around $91 million, while its immunotherapy Proleukin generated about $9 million in global revenue, with the company expecting sales to increase through the rest of the year.

Interim President and CEO Frederick Vogt said the strong quarterly performance has prompted Iovance to review its previously issued 2026 revenue guidance of $350 million to $370 million, with an update expected during the third quarter.

The company also expects gross margins, which came in at 56% in Q2, to continue improving.

IOVA’s Pipeline Highlights

Iovance also highlighted progress across its next-generation immuno-oncology pipeline. The company is enrolling patients in early-stage trials of IOV-4001 for melanoma and non-small cell lung cancer, and IOV-5001, which is being studied in colorectal, breast and other solid tumors.

The company is also expanding its studies of Lifileucel into new cancers, including cutaneous squamous cell carcinoma and Merkel cell carcinoma, with initial data expected in the first half of 2027.

As of June 30, Iovance had $304 million in cash and expects it to fund operations through the second half of 2028.

IOVA Bulls See Big Pharma Buyout Interest

Retail sentiment surrounding IOVA on Stocktwits turned ‘extremely bullish’ from ‘bullish’ over the past 24 hours, amid a 295% increase in message volumes.

One user said Iovance’s performance has put big pharma on notice.

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Another user highlighted why Iovance could be an “easy buy for any big pharma.”

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The stock has surged more than 111% so far this year.

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