IOVA Stock Hits Over 2-Year Highs – Why Iovance Raised Its FY2026 Revenue Outlook

Iovance raised its 2026 revenue forecast due to strong U.S. demand for Amtagvi and Proleukin cancer therapies.

• Iovance expects FY 2026 revenue of $410 million to $420 million, up from $350 million to $370 million.
• The company is expected to report its Q3 results in November.
• Lifileucel is being developed beyond its current melanoma use, including programs in lung and endometrial cancers.

Shares of Iovance Biotherapeutics (IOVA) surged to their highest levels in more than two years on Tuesday, after the biotech firm raised its full-year revenue outlook, citing stronger U.S. demand for its cancer treatments.

At the time of writing, IOVA stock was up more than 25% and heading for its fourth monthly gain in five months.

Why Did Iovance Raise Its Guidance?

Iovance said it expects full-year 2026 revenue of $410 million to $420 million, up from its previous $350 million to $370 million forecast. The new midpoint is $55 million higher and implies nearly 60% annual growth, it said.

The increased outlook follows a record second quarter. Iovance reported $99.3 million in second-quarter (Q2) product revenue, including $89.5 million from Amtagvi (lifileucel) and $9.8 million from Proleukin. Amtagvi is a tumor-infiltrating lymphocyte therapy approved for certain patients with advanced melanoma. Proleukin is used to treat adults with kidney cancer as well as metastatic melanoma.

“Increasing patient demand and our current manufacturing schedule provide strong visibility into our third and fourth quarter revenues,” said Frederick Vogt, Interim President and CEO.

Goldman Sachs recently resumed coverage of Iovance with a ‘Buy’ rating and $15 price target, saying operational and logistical challenges surrounding the Amtagvi launch are beginning to ease and should support better gross margins.

Pipeline Looks Beyond Melanoma

Iovance is trying to expand lifileucel beyond its current melanoma indication. The company is running the Tilvance-301 Phase 3 study of lifileucel plus Merck’s Keytruda as a first-line treatment for advanced melanoma.

Its pipeline also includes registrational programs evaluating lifileucel in non-small cell lung cancer and endometrial cancer.

Iovance ended Q2 with about $243 million in cash, cash equivalents and investments. The company said it has been working to reduce expenses and improve manufacturing efficiency. The company expects to report its third-quarter (Q3) results in early November. 

Retail Sees Upside In Lung Cancer Treatment

Retail sentiment surrounding IOVA on Stocktwits remained ‘bullish’ over the past 24 hours, amid ‘high’ message volumes.

One user highlighted the company’s potential opportunity in lung cancer treatment.

View this Stocktwits post

Another user said positive lung cancer data will take the stock to $20. It is currently trading at $13.3.

View this Stocktwits post

The stock has surged around 425% so far this year.

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