IOVANCE BIOTHERAPEUTICS Reports Q2 Earnings Results for FY2023 Ending June 30 2023
August 16, 2023
🌥️Earnings Overview
IOVANCE BIOTHERAPEUTICS ($NASDAQ:IOVA) released their Q2 earnings results for the financial year 2023 on August 8, 2023, with total revenue reaching a noteworthy USD 0.2 million, in comparison to the USD 0.0 million reported in the year-ago period. Net income for Q2 was USD -106.5 million, an increase from the previous year’s -99.4 million.
Market Price
IOVANCE BIOTHERAPEUTICS reported its Q2 earnings results for the fiscal year 2023 ending June 30 2023 on Tuesday. The stock opened the trading day at $7.0 and closed at $7.1, marking a 1.3% rise from the previous closing price of $7.0. With this earnings report, IOVANCE BIOTHERAPEUTICS is positioned to continue to drive shareholder value and generate long-term growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Iovance Biotherapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 0.24 | -418.83 | -175981.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Iovance Biotherapeutics. More…
| Operations | Investing | Financing |
| -335.09 | 70.79 | 450 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Iovance Biotherapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 757.29 | 178.72 | 2.34 |
Key Ratios Snapshot
Some of the financial key ratios for Iovance Biotherapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -179988.7% |
| FCF Margin | ROE | ROA |
| -149025.2% | -43.0% | -35.4% |
Analysis
GoodWhale recently analyzed IOVANCE BIOTHERAPEUTICS‘s financials, and based on our Risk Rating, we determined that they are a medium risk investment. We take into account various aspects such as their balance sheet, cashflow statement, and financial journal when coming to this conclusion. Upon further examination of IOVANCE BIOTHERAPEUTICS’s financials, we have detected three risk warnings. These can include weaknesses in their cash flow, earnings volatility, and debt levels. If you’re interested in learning more about these warnings, register on GoodWhale.com and view our detailed analysis. More…
Peers
Its main competitors are Arcellx Inc, Talaris Therapeutics Inc, and Day One Biopharmaceuticals Inc. All of these companies are working to develop new and improved treatments for cancer patients. Iovance Biotherapeutics Inc has a strong team of researchers who are constantly innovating new ways to treat cancer. This makes them a strong competitor in the market.
– Arcellx Inc ($NASDAQ:ACLX)
Arcellx Inc. is a clinical-stage biotechnology company, which focuses on engineering living cells for therapeutic purposes. Its proprietary technology platform harnesses the natural ability of cells to recognize and kill cancer cells. The company was founded by Amit Kumar, Gregory J. Wang, and Kimberly J. Stegmaier on January 9, 2013 and is headquartered in Waltham, MA.
– Talaris Therapeutics Inc ($NASDAQ:TALS)
Talaris Therapeutics Inc. is a regenerative medicine company focused on developing and commercializing products to treat conditions caused by a depleted or dysfunctional population of circulating blood cells. The company’s lead product candidate is TLL-2003, a hematopoietic stem cell therapy for the treatment of severe aplastic anemia (SAA). Talaris is also developing TLL-1002, a myeloid cell therapy for the treatment of myelodysplastic syndrome (MDS).
Talaris has a market cap of $57.66 million and an ROE of -19.06%. The company’s lead product candidate, TLL-2003, is in clinical trials for the treatment of SAA. Talaris is also developing TLL-1002, a myeloid cell therapy for the treatment of MDS.
– Day One Biopharmaceuticals Inc ($NASDAQ:DAWN)
One Biopharmaceuticals Inc is a pharmaceutical company that focuses on the development and commercialization of innovative therapies for the treatment of serious diseases. The company has a market cap of 1.59B as of 2022 and a return on equity of -20.92%. The company’s products include treatments for cancer, infectious diseases, and inflammatory conditions.
Summary
IOVANCE BIOTHERAPEUTICS reported impressive quarterly earnings results for the period ending June 30 2023. Total revenue for the quarter was USD 0.2 million, representing a large increase from the same period last year, and net income was USD -106.5 million, a slight decline from the same period last year. Despite the net loss, investors should take comfort in the revenue growth which shows that demand for the company’s products is increasing.
Furthermore, IOVANCE BIOTHERAPEUTICS continues to focus on developing groundbreaking treatments for cancer and other diseases, which could further increase revenue in the future. Overall, IOVANCE BIOTHERAPEUTICS appears to be an attractive investment opportunity, particularly for long-term investors.
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