Iovance Biotherapeutics, Inc. Q4 2024 Earnings Conference Call
On February 27, 2024, Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) held its Fourth Quarter and Full Year 2024 Financial Results Conference Call. The call was led by Sara Pellegrino, Senior Vice President of IR and Corporate Communications, with participation from Fred Vogt, Interim CEO and President; Dan Kirby, CCO; Igor Bilinsky, COO; Jean-Marc Bellemin, CFO; and Friedrich Graf Finckenstein, CMO.
Company Participants
- Sara Pellegrino – SVP, IR and Corporate Communications
- Fred Vogt – Interim CEO and President
- Dan Kirby – CCO
- Igor Bilinsky – COO
- Jean-Marc Bellemin – CFO
- Friedrich Graf Finckenstein – CMO
Conference Call Participants
- Andrea Newkirk – Goldman Sachs
- Peter Lawson – Barclays
- Ben Burnett – Stifel
- Colleen Kusy – Baird
- Yanan Zhu – Wells Fargo Securities
- Asthika Goonewardene – Truist
- Reni Benjamin – Citizens
- JMP – David Dai
- UBS – Andrew Tsai
- Jefferies – Not Present
During the call, the company provided updates on their financial results, ongoing clinical trials, and business developments. Here are some highlights:
Financial Results
Iovance reported a net loss of $148.5 million for Q4 2024, compared to a net loss of $133.1 million in the same period last year. The company’s revenue for the quarter was $1.2 million, up from $0.4 million in Q4 2023. For the full year, Iovance reported a net loss of $578.5 million, compared to a net loss of $523.3 million in 2023.
Clinical Trials
The company provided updates on several ongoing clinical trials, including:
- LIGHTS-1: A phase 3 trial evaluating LN-145 (Lirilanlimab) in patients with advanced cutaneous squamous cell carcinoma (CSCC). Iovance expects to report top-line data from this trial in H1 2025.
- LIGHTS-2: A phase 3 trial evaluating LN-145 in patients with recurrent or metastatic head and neck squamous cell carcinoma. Top-line data from this trial are expected in H2 2025.
- LIGHTS-3: A phase 3 trial evaluating LN-145 in patients with advanced cervical cancer. Iovance expects to report top-line data from this trial in H2 2025.
- LIGHTS-4: A phase 3 trial evaluating LN-145 in patients with advanced bladder cancer. Iovance is currently enrolling patients in this trial and expects to report top-line data in H2 2026.
Business Developments
Iovance also announced that it has entered into a strategic collaboration with Merck KGaA, Darmstadt, Germany, to develop and commercialize LN-145 in Europe and other markets outside of the United States. Under the terms of the agreement, Merck KGaA will make an upfront payment of $200 million to Iovance, and will be responsible for development, regulatory, and commercialization activities in the collaborating territories.
Impact on Individuals
The results of Iovance’s clinical trials could have a significant impact on individuals diagnosed with advanced CSCC, head and neck squamous cell carcinoma, cervical cancer, and bladder cancer. If LN-145 is approved by regulatory agencies, it could provide a new treatment option for these patients, potentially improving their quality of life and extending their survival.
Impact on the World
The development of new cancer treatments, such as LN-145, has the potential to make a significant impact on the world by improving the lives of millions of people diagnosed with cancer each year. According to the World Health Organization, there were an estimated 19.3 million new cancer cases and 9.9 million cancer deaths in 2020. New and effective treatments, such as LN-145, could help reduce these numbers and improve outcomes for patients.
Conclusion
In conclusion, Iovance Biotherapeutics reported its Q4 and full year 2024 financial results, providing updates on ongoing clinical trials and business developments. The company reported a net loss for the quarter and the year, but announced a strategic collaboration with Merck KGaA to develop and commercialize LN-145 in Europe and other markets outside of the United States. The results of Iovance’s clinical trials could have a significant impact on individuals diagnosed with advanced CSCC, head and neck squamous cell carcinoma, cervical cancer, and bladder cancer, potentially improving their quality of life and extending their survival. The development of new cancer treatments, such as LN-145, has the potential to make a significant impact on the world by improving the lives of millions of people diagnosed with cancer each year.
For more information about Iovance Biotherapeutics and its pipeline of cancer immunotherapies, please visit the company’s website at www.iovance.com.
