Iovance Biotherapeutics Reports 93% Revenue Growth Driven by Amtagvi® Launch

Iovance Biotherapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated total revenue of $59.9 million for the quarter, a 93% increase from $31.1 million in the same period last year. This growth was primarily driven by the commercial launch of its first product, Amtagvi® (lifileucel), which accounted for $54.1 million in sales, compared to just $12.8 million in the previous year. However, revenue from Proleukin® (aldesleukin) decreased by 68% to $5.9 million, reflecting a decline in demand following initial stocking by distributors in the prior year.

In terms of expenses, Iovance reported total costs and expenses of $173.7 million for the quarter, up from $133 million a year earlier. The increase was largely attributed to a rise in cost of sales, which surged by 81% to $56.7 million, driven by higher product sales and increased manufacturing costs. Research and development expenses also rose by 28% to $79.4 million, reflecting ongoing clinical trials and an expanded workforce. As a result, the company recorded a net loss of $111.7 million for the quarter, compared to a loss of $97.1 million in the same period last year.

Iovance's operational metrics indicate a strategic focus on expanding its market presence. The company is actively launching Amtagvi® in the U.S. and plans to enter additional markets, including the UK, Canada, and Australia, where regulatory approvals are anticipated in the coming years. The company has also initiated two registrational trials for lifileucel in frontline advanced melanoma and advanced non-small cell lung cancer, further indicating its commitment to expanding its product pipeline.

As of June 30, 2025, Iovance had $307.1 million in cash, cash equivalents, and short-term investments, providing a solid liquidity position to support ongoing operations and product launches. The company expects to continue incurring significant expenses related to the commercialization of Amtagvi® and the development of its pipeline candidates. In August 2025, Iovance announced a strategic restructuring plan aimed at reducing operating costs and streamlining operations, which includes a workforce reduction of approximately 19%. This move is intended to optimize business performance and extend the company's cash runway as it navigates the complexities of launching its innovative therapies.