IOVANCE BIOTHERAPEUTICS Reports Second Quarter Earnings Results for FY2023
August 29, 2023
🌥️Earnings Overview
IOVANCE BIOTHERAPEUTICS ($NASDAQ:IOVA) released its earnings outcomes for the second quarter of FY2023 (ending June 30, 2023) on August 8, 2023. Compared to the same period in FY2022, total revenue rose to USD 0.2 million and net income was USD -106.5 million, as opposed to -99.4 million.
Stock Price
The stock opened at $7.0 and closed at $7.1, reflecting an increase of 1.3% from its last closing price of $7.0. This was driven by strong sales growth of its core products, as well as the introduction of new therapies. The company also announced plans to expand its product portfolio with two new treatments for cancer and autoimmune diseases. 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
At GoodWhale, we recently conducted an analysis of IOVANCE BIOTHERAPEUTICS‘s wellbeing and based on our Risk Rating, IOVANCE BIOTHERAPEUTICS is a medium risk investment in terms of both financial and business aspects. Upon further analysis of IOVANCE BIOTHERAPEUTICS’s financial statements, we detected 3 risk warnings that may have an effect on their stock price. These are present in their balance sheet, cashflow statement, and financial journal. If you’d like to learn more about these potential risks, register with us to check it out! 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 has reported its second quarter earnings for FY2023, with total revenue increasing to USD 0.2 million and net income increasing to a loss of USD -106.5 million. The company’s results indicate that investments in the company may be risky at this time given the current financial losses. However, investors may be hopeful about the company’s future prospects given that their year-on-year results have improved. Additionally, potential investors should consider any upcoming clinical trials or other new developments that may give the company a boost in the near future.
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