New York, February 25, 2026, 06:14 EST — Premarket
- Iovance shares up about 4% in premarket after a 30.8% jump on Tuesday
- Company reported about $87 million in fourth-quarter product revenue and a roughly 50% gross margin
- Citizens upgraded the stock to Market Outperform with a $5 price target
Iovance Biotherapeutics shares rose about 4% in premarket trading on Wednesday, adding to a 30.8% surge in the prior session, as traders focused on the company’s latest earnings update and a fresh analyst upgrade. (Barron’s)
The move matters because Iovance is still in the proving-it phase: selling a complex, one-time cancer cell therapy that depends on hospital capacity, referral patterns and manufacturing cadence, not just drug pricing.
Cell therapies for solid tumours can look straightforward on a slide and messy in real life. Iovance has been leaning on a growing network of authorized treatment centers to deliver Amtagvi, a tumor-infiltrating lymphocyte (TIL) therapy made from a patient’s own immune cells.
In a release filed with U.S. regulators, Iovance reported fourth-quarter product revenue of about $87 million and said gross margin from cost of sales was about 50%. It posted a quarterly net loss of $71.9 million, or 18 cents per share, and said it ended 2025 with about $303 million in cash and equivalents, which it expects to fund operations into the third quarter of 2027.
The company also pointed to early data in a pilot study of lifileucel in aggressive soft tissue sarcomas, with a 50% objective response rate — the share of patients whose tumours shrink by a set amount — among the first six evaluable patients. Lauren Baker Banks, a sarcoma medical oncologist at Memorial Sloan Kettering Cancer Center, called the responses “compelling and unprecedented,” while Iovance executive Brian Gastman said the results suggest the therapy could become “a new, highly efficacious, and durable” option. (GlobeNewswire)
Separately, Citizens upgraded Iovance to “Market Outperform” from “Market Perform” and set a $5 price target, pointing to signs that early launch frictions may be easing as manufacturing and the treatment-center network settle into a rhythm. (Investing)
A company filing also showed Iovance updated the corporate presentation it uses for healthcare conferences and discussions with analysts and investors.
But the usual traps are still there. Early response rates in small studies can fade when more patients are treated, and regulators can demand larger, longer follow-up before they move on an expanded label. Iovance also has to keep manufacturing and hospital throughput aligned; if either side slips, revenue momentum can turn choppy fast.
Next up is guidance. On Tuesday’s earnings call, interim CEO Frederick Vogt told analysts the company would provide 2026 revenue guidance “in the very near future,” a catalyst traders are likely to chase for direction on the next leg after this week’s run. (Fool)
