Analyst Conference Summary

biotechnology

conference date: May 7, 2026 @ 5:30 AM Pacific Time
for quarter ending: March 31, 2026 (first quarter, Q1 2026)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenue was $ million, up sequentially from $87 million, and up % from $ million year-earlier.

Net Income was negative $ million, up sequentially from negative $72 million, and up from negative $ million year-earlier.

EPS (Earnings per Share), diluted, were negative $, up sequentially from negative $0.18, and up from negative $ year-earlier.

Guidance:

Conference Highlights:

Frederick Vogt, Interim President and CEO said, "" Demand increase continued in Q1.

Revenue consisted of $ million from U.S. sales of Amtagvi plus $ million from global sales of Proleukin. Amtagvi (lifileucel) treamtent centers grew in numbers, and international launch is underway. In Q1 2026 announced Amtagvi for advanced melanoma trial reported ORR of 44%, improved from the trial data used for FDA accelerated approval.

The lifileucel for previously treated advanced, metastatic nonsquamous NSCLC registrational trial reported positve interim data, with a 26% ORR and 72% disease control rate. Enrollment should complete in 2026 with a launch possible in H2 2027. This is a much larger potential market than melanoma.

In Q1 2026 Iovance announced positive early data for one-time lifileucel treatment for advanced undifferentiated pleomorphic sarcoma (UPS) or dedifferentiated liposarcoma (DDLPS) who were refractory to at least one prior line of systemic therapy. For six evaluable patients, the confirmed RECIST v1.1 ORR was 50%. Iovance plans to commence a single arm registrational trial in previously treated advanced UPS and DDLPS in Q2 2026. [note that if 1 less patient had had a response, the ORR would have dropped to 33%]

Lifileucel is in a Phase 2 trial for advanced endometrial cancer.

Lifileucel is in a Phase 2 trial for melanoma.

As of Q1 2026 a Phase 1/2 trial of IOV-4001, a PD-1 inactivated TIL therapy, in previously treated advanced melanoma and NSCLC, is ongoing.

As of Q1 2026 a Phase 1/2 trial of IOV-3001, a second-generation, modified IL-2 analog, is ongoing.

For 1H 2026, An IND submission is planned for IOV-5001, a genetically engineered, inducible, and tethered interleukin-12 TIL therapy, for a Phase 1/2 basket trial.

Iovance is able to expand manufacturing for global production without significant futher capital expense. All our manufacturing operations are now in house, at our Philadelphia facility.

Cash and investments ended at $ million, down sequentially from$297 million.

Total expenses were $ milllion, consisting of: cost of sales $ million, R&D $ million, SG&A $ million, depreciation and amortization $ million. Other income $ million. Income tax benefit $ million.

Q&A:

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