Stocks
Iovance Biotherapeutics Stock Soars on Sector Momentum and Q2 Beat
Iovance Biotherapeutics stock has surged over 250% year-to-date, reaching a 52-week high. The company's second-quarter revenue of $99.3 million beat analyst expectations by $11.5 million.
The sector momentum is driven by recent breakthrough data from Moderna and Merck in personalized cancer therapies. Iovance's own fundamentals remain solid, with the flagship product Amtagvi accounting for approximately 91% of total sales in the quarter.
The company reaffirmed its fiscal 2026 sales guidance of $350 million to $370 million, which is slightly below the consensus estimate of $362.083 million.