Iovance Biotherapeutics disclosed preliminary second-quarter 2026 financial results and a business update in a new corporate presentation. The company announced revenue of approximately $99 million, surpassing its prior guidance by over 10% and reflecting significant year-over-year growth. The update also extended the company's cash runway into the second half of 2028.
Key Details
- Financial Performance: Preliminary Q2 2026 revenue was ~$99 million, representing approximately 66% year-over-year quarterly growth. The company also reported a 56% gross margin from cost of sales for the quarter.
- Cash Position: As of June 30, 2026, Iovance had approximately $304 million in cash, cash equivalents, and short-term investments, which is expected to fund operations into the second half of 2028.
- Commercial Operations: The company has expanded its network to over 95 authorized treatment centers as of August 5, 2026, to support its commercial TIL therapy products.