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Why Is Iovance Biotherapeutics (IOVA) Down 21.5% Since Last Earnings Report?
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It has been about a month since the last earnings report for Iovance Biotherapeutics (IOVA - Free Report) . Shares have lost about 21.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Iovance Biotherapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Iovance Incurs Wider-Than-Expected Q4 Loss
Iovance incurred loss of 47 cents per share in fourth-quarter 2020, wider than the Zacks Consensus Estimate of a loss of 46 cents. However, the bottom line narrowed from a loss of 50 cents per share in the year-ago quarter.
The company did not record any revenues during the quarter.
Quarter in Detail
Research & development (R&D) expenses were $52.4 million, 3.3% lower than the year-ago quarter, primarily due to lower manufacturing and clinical costs following the completion of enrollment in the pivotal cohorts for melanoma and cervical cancer studies.
General and administrative (G&A) expenses increased 47.9% to $16.1 million due to an increase in related personnel costs.
The company had $635 million in cash, cash equivalents, short-term investments and restricted cash as of Sep 30, 2020 compared with $719.7 million as of Sep 30, 2020.
Full-Year Results
Iovance did not report any revenues for the full year. The company incurred loss of $1.88 per share for 2020, compared with a loss of $1.59 per share in the year-ago period.
How Have Estimates Been Moving Since Then?
It turns out, estimates review flatlined during the past month. The consensus estimate has shifted 7.25% due to these changes.
VGM Scores
Currently, Iovance Biotherapeutics has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Iovance Biotherapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Iovance Biotherapeutics (IOVA) Down 21.5% Since Last Earnings Report?
It has been about a month since the last earnings report for Iovance Biotherapeutics (IOVA - Free Report) . Shares have lost about 21.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Iovance Biotherapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Iovance Incurs Wider-Than-Expected Q4 Loss
Iovance incurred loss of 47 cents per share in fourth-quarter 2020, wider than the Zacks Consensus Estimate of a loss of 46 cents. However, the bottom line narrowed from a loss of 50 cents per share in the year-ago quarter.
The company did not record any revenues during the quarter.
Quarter in Detail
Research & development (R&D) expenses were $52.4 million, 3.3% lower than the year-ago quarter, primarily due to lower manufacturing and clinical costs following the completion of enrollment in the pivotal cohorts for melanoma and cervical cancer studies.
General and administrative (G&A) expenses increased 47.9% to $16.1 million due to an increase in related personnel costs.
The company had $635 million in cash, cash equivalents, short-term investments and restricted cash as of Sep 30, 2020 compared with $719.7 million as of Sep 30, 2020.
Full-Year Results
Iovance did not report any revenues for the full year. The company incurred loss of $1.88 per share for 2020, compared with a loss of $1.59 per share in the year-ago period.
How Have Estimates Been Moving Since Then?
It turns out, estimates review flatlined during the past month. The consensus estimate has shifted 7.25% due to these changes.
VGM Scores
Currently, Iovance Biotherapeutics has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Iovance Biotherapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.