Iovance Biotherapeutics, Inc. (IOVA) Stock Price & Analysis
Iovance Biotherapeutics, Inc. (IOVA) closed at USD 14.14 on Thursday, October 22, 2026, down 3.28% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 14.62; the Oct 22, 2026 session ranged USD 13.64–14.7 on volume of 10,765,088 shares. Market capitalization is $6.41B, with a 52-week range of USD 1.76–15.37 (NGM). Source: Nexqual, retrieved October 23, 2026 at 09:13 UTC.
Also available as compact Markdown for AI agents: nexqual.com/IOVA.md
Key facts (IOVA)
- Last four reported quarters (through Jun 30, 2026): revenue $325M, net income -$290M (-89.1% margin), free cash flow -$296M (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (10 analysts), mean target USD 14.4 (range 7–20).
- Total return with dividends: 1Y +545.7% vs S&P 500 +14.9%; 5Y -44.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.09, revenue estimate $115M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (IOVA)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | — | — | $1.2M | $164M | $264M | $325M |
| Gross profit | — | — | $156K | $70.8M | $90.3M | — |
| Operating income | -$343M | -$399M | -$461M | -$395M | -$403M | -$301M |
| Net income | -$342M | -$396M | -$444M | -$372M | -$391M | -$290M |
| EPS (diluted) | -$2.23 | -$2.49 | -$1.89 | -$1.28 | -$1.09 | — |
| Free cash flow | -$266M | -$313M | -$384M | -$364M | -$336M | -$296M |
| Gross margin | — | — | 13.1% | 43.2% | 34.3% | — |
| Operating margin | — | — | -38735.0% | -240.9% | -153.1% | -92.7% |
| Net margin | — | — | -37345.4% | -226.8% | -148.4% | -89.1% |
| Revenue growth | — | — | — | +13699.0% | +60.6% | — |
| Cash + short-term investments | $504M | $472M | $280M | $324M | $297M | — |
| Total debt | $1.0M | $1.0M | $1.0M | $1.0M | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (IOVA)
P/S 19.7x · P/B 8.7x · FCF yield -4.63% · Earnings yield -4.52%
Analysts (IOVA)
Consensus Buy (mean 2.00 on a 1–5 scale), 10 analysts; mean target USD 14.4 (low 7, high 20).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Barclays | Target raised | Overweight | $15 → $18 |
| 2026-10-08 | Baird | Target raised | Neutral | $6 → $11 |
| 2026-09-30 | Wells Fargo | Target raised | Overweight | $14 → $18 |
| 2026-09-29 | HC Wainwright & Co. | Target raised | Buy | $9 → $20 |
| 2026-09-17 | Barclays | Target raised | Overweight | $13 → $15 |
| 2026-08-25 | TD Cowen | Target raised | Buy | $7 → $10 |
| 2026-08-20 | UBS | Target raised | Neutral | $4 → $7 |
| 2026-08-18 | Mizuho | Target raised | Outperform | $10 → $11 |
| 2026-08-07 | Barclays | Target raised | Overweight | $11 → $13 |
| 2026-08-07 | Citizens | Target raised | Market Outperform | $5 → $8 |
Total return (dividends reinvested) (IOVA)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +545.7% | -44.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +549.8% | -11.2% |
| Volatility (annualized) | 98.6% | 94.5% |
| Max drawdown | -39.0% (Mar 2026→Apr 2026) | -93.5% (Oct 2021→May 2025) |
IOVA revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Amtagvi | $90.7M | 91.3% | +67.8% |
| Proleukin | $8.6M | 8.7% | +46.2% |
| Total revenue | $99.3M | 100% | — |
IOVA revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $99.0M | 99.7% | +68.9% |
| Non Us | $346,000 | 0.3% | -74.3% |
| Total revenue | $99.3M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
IOVA suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Boehringer Ingelheim Biopharmaceuticals | “In May 2023, as part of the Acquisition from Clinigen, we inherited a manufacturing and supply agreement with Boehringer Ingelheim Biopharmaceuticals GmbH, to carry out the processing, manufacturing, and supply of Proleukin® in unlabeled vials through October 2025.” |
| Partner | Cellectis S.A. (CLLS) | “In December 2019, we entered into a research collaboration and exclusive worldwide license agreement for gene-editing technology from Cellectis, a clinical-stage biopharmaceutical company, to develop genetically edited TIL cell therapies, including a PD-1 inactivated product that we refer to as IOV-4001.” |
| Partner | Jefferies | “Subject to various spending levels approved by our Board of Directors, our management will have broad discretion in the use of the net proceeds from our capital raises, including proceeds from sales pursuant to our "at-the-market" sale agreement with Jefferies LLC, and may not use them effectively.” |
| Partner | Novartis Pharma | “In addition, in order to supplement our own efforts to improve TIL manufacturing and develop TIL cell therapies in new indications in clinical trials, we currently work and collaborate with government and academic research institutions, medical institutions, and corporate partners such as the NCI, Moffitt, Memorial Sloan Kettering Cancer Center, or MSKCC, Cellectis, and Novartis.” |
| Competitor | Merck (MRK) | “In particular, we expect to compete with other new therapies for our lead indications developed by companies such as BioNtech, Bristol-Myers Squibb, Daiichi Sankyo, Eisai, Genmab, Immunocore, IO Biotech, Merck, Moderna, Pfizer, Regeneron Pharmaceuticals, and Replimune.” |
| Competitor | Moderna (MRNA) | “In particular, we expect to compete with other new therapies for our lead indications developed by companies such as BioNtech, Bristol-Myers Squibb, Daiichi Sankyo, Eisai, Genmab, Immunocore, IO Biotech, Merck, Moderna, Pfizer, Regeneron Pharmaceuticals, and Replimune.” |
| Competitor | Pfizer (PFE) | “In particular, we expect to compete with other new therapies for our lead indications developed by companies such as BioNtech, Bristol-Myers Squibb, Daiichi Sankyo, Eisai, Genmab, Immunocore, IO Biotech, Merck, Moderna, Pfizer, Regeneron Pharmaceuticals, and Replimune.” |
| Competitor | UPS (UPS) | “plan to commence a registrational trial in previously treated advanced undifferentiated pleomorphic sarcoma, or UPS, and dedifferentiated liposarcoma, or DDLPS, in the second quarter of 2026.” |
Quoted from the company's 10-K filed Feb 24, 2026.
Companies that name IOVA in their SEC reports
| Relationship to IOVA | Company | Filing | Sentence |
|---|---|---|---|
| partner | Cellectis S.A. (CLLS) | 20-F Mar 20, 2026 | “We also have a research collaboration and exclusive worldwide license agreement with Iovance Biotherapeutics, Inc. ("Iovance"), under which Iovance is licensed under our TALEN technology to develop tumor infiltrating lymphocytes (TIL) genetically edited for therapeutic use in several cancer indications.” |
IOVA customer concentration
In the period ended Jun 30, 2026, a single direct customer accounted for 0% of revenue, per the company's 10-Q filed Aug 6, 2026. The company does not name it.
IOVA company outlook (results filed Aug 6, 2026)
- “Based on strong second-quarter sales and current demand trends, Iovance is reviewing its FY26 total revenue guidance of $350 million to $370 million.”
- “Authorized treatment center (ATC) network: The network has grown to more than 95 U.S., Canadian, and Australian ATCs, with at least 110 ATCs expected to be active by the end of 2026.”
Analysts expect $115.0M for the current quarter, 68.1% below the midpoint of the company's guidance ($360.0M).
Quoted word-for-word from the SEC 8-K results press release.
IOVA analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.09 | $-0.12 | -31.6% | $115.0M | 8 |
| Next quarter (ends Dec 2026) | $-0.08 | $-0.12 | -32.5% | $127.0M | 8 |
| Current fiscal year (ends Dec 2026) | $-0.45 | $-0.56 | -20.1% | $412.7M | 8 |
| Next fiscal year (ends Dec 2027) | $-0.20 | $-0.32 | -38.7% | $593.6M | 8 |
IOVA options: expected move
Options price a move of about ±20.5% (±$2.90) by Nov 6, 2026, which includes earnings on Nov 5, 2026; the earnings reaction alone is priced at about ±14.0%. Over the last 8 reports the stock moved ±26.6% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 105.0% | ±12.4% |
| Nov 6, 2026 | 14 | 134.2% | ±20.5% |
| Nov 13, 2026 | 21 | 122.9% | ±23.9% |
| Nov 20, 2026 | 28 | 111.9% | ±24.9% |
| Nov 27, 2026 | 35 | 125.0% | ±30.9% |
| Dec 4, 2026 | 42 | 121.9% | ±33.0% |
| Dec 18, 2026 | 56 | 102.3% | ±33.2% |
| Jan 15, 2027 | 84 | 102.9% | ±40.5% |
30-day implied volatility 107.9% vs 100.8% realized over the last 30 trading days. Put/call ratio (volume) 0.15. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:13 UTC)
| Price | USD 14.14 |
|---|---|
| Change | ▼ 3.28% (down) |
| Previous Close | USD 14.62 |
| Open | USD 14.32 |
| Day Range | USD 13.64 – 14.7 |
| 52-Week Range | USD 1.76 – 15.37 |
| Volume | 10,765,088 shares |
| Market Cap | $6.41B |
| Exchange | NGM |
Technical Analysis (IOVA)
Nexqual's technical model rates IOVA "STRONG BUY" based on 5 bullish and 0 bearish signals across 127 daily candles, as of October 23, 2026 at 09:13 UTC.
| Overall Signal | STRONG BUY |
|---|---|
| RSI (14) | 59.84 (neutral) |
| vs SMA50 | Above (USD 10.76) |
| MACD | 1.11 (positive) |
Analyst Ratings (IOVA)
Wall Street analysts rate IOVA "Buy" based on 10 analysts, with a mean price target of USD 14.4 (range USD 7–20), per Nexqual as of October 23, 2026 at 09:13 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 10 |
| Mean Target | USD 14.4 |
| High Target | USD 20 |
| Low Target | USD 7 |
| Buy / Hold / Sell | 8 / 2 / 0 |
Earnings (IOVA)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD -0.09 |
| Revenue Estimate | $114.98M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.11 vs est -0.13 ▲ beat |
| 2026-03-31 | USD -0.19 vs est -0.15 ▼ miss |
| 2025-12-31 | USD -0.18 vs est -0.18 ▼ miss |
| 2025-09-30 | USD -0.25 vs est -0.26 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:13 UTC.
Financials & Fundamentals (IOVA)
| Total Revenue | $324.97M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +65.70% |
| Gross Margin | +48.40% |
| Operating Margin | -52.26% |
| Profit Margin | -89.09% |
| ROE | -40.36% |
| Debt / Equity | 0.06 |
| Current Ratio | 4.35 |
| Total Cash | $297.67M |
| Total Debt | $46.00M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$296.39M (-91.2% of revenue) |
Source: Nexqual, October 23, 2026 at 09:13 UTC.
Financial Health Score (IOVA)
Nexqual rates Iovance Biotherapeutics, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:13 UTC.
| Growth | Strong — Revenue +61% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 48%, operating -52% (last 12 months) |
| Balance Sheet | Strong — $298M cash vs $46M debt, net cash position |
| Cash Flow | Weak — FCF negative: -$296M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -40%, ROA -20.3% |
Ownership (IOVA)
| Insider Ownership | +0.35% |
|---|---|
| Institutional Ownership | +70.80% |
| Shares Outstanding | 452.97M |
| Float | 394.31M |
| Short % of Float | +15.31% |
Source: Nexqual, October 23, 2026 at 09:13 UTC.
Leadership (IOVA)
Iovance Biotherapeutics, Inc. is led by Frederick G. Vogt Esq., Interim CEO, President, General Counsel, Corporate Secretary & Director, per Nexqual as of October 23, 2026 at 09:13 UTC.
| Interim CEO, President, General Counsel, Corporate Secretary & Director | Frederick G. Vogt Esq. |
|---|---|
| Chief Financial Officer | Corleen M. Roche |
| Chief Operating Officer | Igor P. Bilinsky |
| Senior Vice President of Investor Relations & Corporate Communications | Sara Pellegrino |
| Executive Vice President of Human Resources | Tracy Winton |
Major Backers & Investors (IOVA)
Notable institutional backers of Iovance Biotherapeutics, Inc. include MHR Fund Management, LLC, Two Sigma Investments, LP, Millennium Management, according to Nexqual as of October 23, 2026 at 09:13 UTC.
Active Investors
| Investor | Stake |
|---|---|
| MHR Fund Management, LLC | 6.39% |
| Two Sigma Investments, LP | 4.2% |
| Millennium Management | 1.88% |
| Palo Alto Investors Lp | 1.17% |
| Fidelity | 0.96% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.16% |
| Vanguard Group | 7.2% |
| State Street | 5.4% |
| Geode Capital | 2.28% |
| Dimensional Fund Advisors | 1.43% |
Source: Nexqual, October 23, 2026 at 09:13 UTC.
From Iovance Biotherapeutics, Inc.'s Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- We seek to protect our proprietary technology and processes, in part, by entering into confidentiality agreements with our employees, consultants, scientific advisors and contractors.
- We aim to lead in the field of T cell-based immunotherapy by building and augmenting the patent rights for our proprietary TIL technology platform, which we have developed internally and licensed from third parties.
- Biologic products are regulated by the FDA under a combination of the federal Food, Drug, and Cosmetic Act, or FDCA, and Public Health Services Act, or PHSA, and the FDA's implementing regulations.
- Our proprietary, centralized, and scalable Gen 2 technology introduced manufacturing and logistical efficiencies aimed at optimizing treatment, streamlining distribution processes, and delivering a cryopreserved final product.
Partnerships
- We reached agreement with the FDA on the TILVANCE-301 clinical trial design.
- During the development of a new therapeutic, a sponsor may be able to request a Special Protocol Assessment, or SPA, the purpose of which is to reach an agreement with the FDA on the Phase 3 clinical trial protocol design and analysis that will form the primary basis of product approval and an efficacy claim, as well as preclinical carcinogenicity trials and stability studies.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to extensive regulation, which can be costly and time consuming and can subject us to unanticipated delays in obtaining regulatory approvals for our products and/or product candidates, and even after obtaining regulatory approval for some of our products and/or product candidates, those products and/or product candidates may still face regulatory difficulties.
- The FDA and foreign regulatory approval process is lengthy and time-consuming, and we may experience significant delays in the clinical development and regulatory approval of our product candidates.
- We could also encounter delays if there are unresolved ethical issues associated with physicians enrolling patients in clinical trials of our product candidates in lieu of prescribing existing treatments that have established safety and efficacy profiles.
- The FDA's review of our regulatory submissions may be delayed in the future due to reasons beyond our control (such as the reductions of staffing or other resources at the FDA.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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|---|---|---|---|
| LGND | Ligand Pharmaceuticals Incorpor | USD 307.82 | ▼ 2.21% |
| BLTE | Belite Bio, Inc | USD 150.27 | ▼ 1.9% |
| PRAX | Praxis Precision Medicines, Inc | USD 258.92 | ▲ 0.96% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 43.91 | ▼ 0.81% |
| TGTX | TG Therapeutics, Inc. | USD 53.16 | ▼ 0.08% |
| ABVX | Abivax SA | USD 90.23 | ▼ 3.49% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:13 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt