Iovance Biotherapeutics, Inc. (IOVA) AI Stock Analysis

Founded in 2007 and headquartered in San Carlos, California, Iovance Biotherapeutics, Inc. is a clinical-stage biotechnology company focused on developing and commercializing cancer immunotherapy products. The company aims to harness a patient's immune system to target and eliminate cancer cells. It is advancing six phase 2 clinical trials, including lifileucel in studies such as C-144-01 for metastatic melanoma, C-145-04 for recurrent cervical cancer, and C-145-03 for head and neck squamous cell carcinoma. Iovance collaborates with institutions including H. Lee Moffitt Cancer Center, M.D. Anderson Cancer Center, Ohio State University, Cellectis S.A., and Novartis Pharma AG.

Iovance grew its revenue from $238,000 in FY2022 to $1.2M in FY2023, $164.1M in FY2024, and $263.5M in FY2025, representing a 3-year revenue CAGR of 934.5%. Gross margin turned positive to 24.4% in FY2024 and expanded to 34.3% in FY2025. However, operating margin was -151.1% in FY2025, and net income remained negative at -$391.0M, or -$1.12 per share, as R&D expense reached $300.3M. For the trailing twelve months ended June 30, 2026, revenue totaled $325.0M with a profit margin of -89.1% and EPS of -$0.69. In the latest quarter ended June 30, 2026, quarterly revenue increased 65.7% year-over-year.

As of June 30, 2026, Iovance held $297.7M in cash and short-term investments against total debt of $46.0M, yielding net cash of $251.7M. The company reported a current ratio of 4.35 and a debt-to-equity ratio of 0.06 on shareholders' equity of $736.0M. In FY2025, operating cash flow was -$302.4M, free cash flow was -$336.2M, and capital expenditures were $33.8M. Cash was supplemented by share issuance of $1.5M, while the 5-year share count increased 186.9%.

Trading at $13.62 as of October 16, 2026, Iovance has a market cap of $6.17B and an enterprise value of $4.55B. The stock trades at a price-to-sales multiple of 19.0x and an EV-to-revenue multiple of 14.0x, both well above the 4.1x price-to-sales median of its US-listed Healthcare peers. Its price-to-book ratio is 6.4x. Over the past year, IOVA shares returned 508.0%, outpacing the 16.8% gain of the S&P 500 (SPY), though its 5-year return of -48.8% lags SPY's 83.0%.

Wall Street coverage consists of 6 Strong Buy, 2 Buy, and 2 Hold recommendations, with no Sell or Strong Sell ratings. The mean price target of $14.40 sits 5.7% above the last close of $13.62. For the fiscal year ending December 31, 2026, analysts estimate revenue of $412.7M and EPS of -$0.45. For the next fiscal year, 8 analysts project revenue of $593.6M and EPS of -$0.20. The company has beaten EPS expectations in 2 of the last 4 quarters, with next earnings scheduled for November 5, 2026.

This page is an AI-written research summary of Iovance Biotherapeutics, Inc. (IOVA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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