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Iovance (IOVA) Gears Up for Q1 Earnings: Here's What to Expect
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Iovance Biotherapeutics (IOVA - Free Report) is scheduled to report first-quarter 2024 results on May 9, after market close. In the last reported quarter, the company’s earnings missed expectations by 2.27%.
Factors to Consider
The Zacks Consensus Estimate for Iovance’s total revenues is pegged at around $2.9 million, while the same for earnings stands at a loss of 45 cents per share. Both metrics indicate improvements over the year-ago quarter’s levels.
Iovance has two marketed products in its portfolio — Amtagvi (lifileucel) and Proleukin (aldesleukin). While the FDA recently approved Amtagvi under the accelerated pathway to treat advanced melanoma, Proleukin was added to the company’s portfolio last year to treat two cancer indications — metastatic renal cell carcinoma (mRCC) and metastatic melanoma.
Though Proleukin was Iovance’s first marketed product, sales from the drug are yet to contribute to the top line. Given the accelerated approval for Amtagvi was received in the third week of February, we expect Amtagvi sales to be modest. Investors will likely be seeking an update from management on the current progress of the commercial launch for Amtagvi and sales guidance.
Apart from melanoma, Iovance is also evaluating Amtagvi in the phase II C-145-04 study for cervical cancer indication. The companyexpects this study to support a potential BLA filing for lifileucel in cervical cancer indication. An update on this study is expected during the conference call.
Apart from Amtagvi, Iovance is evaluating LN-145, an investigational cell therapy, as a potential treatment for head and neck squamous cell carcinoma (HNSCC) and non-small cell lung cancer (NSCLC) in two separate mid-stage studies, C-145-03 and IOV-LUN-202, respectively.
In March, the FDA removed a clinical hold on the IOV-LUN-202 study after reviewing Iovance’s proposal for additional safety measures and monitoring. The hold was placed in December after a grade 5 (fatal) adverse effect was observed in the study.
During the quarter, Iovance announced plans to expand its clinical pipeline with a new cell therapy program for endometrial cancer indication by first-half 2024. Investors are also likely to seek an update from Iovance on this program and other ongoing early-stage pipeline candidates.
Earnings Surprise History
Iovance’s shares have surged 67.7% year to date against the industry’s 5.7% fall.
Image Source: Zacks Investment Research
Iovance’s earnings performance has been mixed over the trailing four quarters. The company’s earnings beat estimates in two of the last four quarters and missed the mark once while meeting the mark on one occasion. On average, IOVA registered an earnings surprise of 20.05% in the last four quarters.
Iovance Biotherapeutics, Inc. Price and EPS Surprise
Our proven model does not predict an earnings beat for Iovance this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Iovance has an Earnings ESP of 0.00% as the Most Accurate Estimate and Zacks Consensus Estimate are pegged at a loss of 45 cents.
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ANI Pharmaceuticals (ANIP - Free Report) has an Earnings ESP of +9.74% and a Zacks Rank #2.
ANI Pharmaceuticals’ shares have risen 22.0% year to date. ANIPbeat earnings estimates in each of the last four quarters, delivering an earnings surprise of 109.06% on average. ANI Pharmaceuticals will report first-quarter 2024 results on May 10, before the opening bell.
argenx (ARGX - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #3.
The stock has gained 2.0% year to date. argenx beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting the mark on another. On average, argenx witnessed an earnings surprise of 14.18% in the last four quarters. ARGX will report first-quarter 2024 results on May 9, before the opening bell.
AnaptysBio (ANAB - Free Report) has an Earnings ESP of +8.36% and a Zacks Rank #3.
AnaptysBio’s shares have risen 24.1% year to date. ANAB beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, AnaptysBio delivered a negative earnings surprise of 4.05% in the last four quarters.
Image: Bigstock
Iovance (IOVA) Gears Up for Q1 Earnings: Here's What to Expect
Iovance Biotherapeutics (IOVA - Free Report) is scheduled to report first-quarter 2024 results on May 9, after market close. In the last reported quarter, the company’s earnings missed expectations by 2.27%.
Factors to Consider
The Zacks Consensus Estimate for Iovance’s total revenues is pegged at around $2.9 million, while the same for earnings stands at a loss of 45 cents per share. Both metrics indicate improvements over the year-ago quarter’s levels.
Iovance has two marketed products in its portfolio — Amtagvi (lifileucel) and Proleukin (aldesleukin). While the FDA recently approved Amtagvi under the accelerated pathway to treat advanced melanoma, Proleukin was added to the company’s portfolio last year to treat two cancer indications — metastatic renal cell carcinoma (mRCC) and metastatic melanoma.
Though Proleukin was Iovance’s first marketed product, sales from the drug are yet to contribute to the top line. Given the accelerated approval for Amtagvi was received in the third week of February, we expect Amtagvi sales to be modest. Investors will likely be seeking an update from management on the current progress of the commercial launch for Amtagvi and sales guidance.
Apart from melanoma, Iovance is also evaluating Amtagvi in the phase II C-145-04 study for cervical cancer indication. The companyexpects this study to support a potential BLA filing for lifileucel in cervical cancer indication. An update on this study is expected during the conference call.
Apart from Amtagvi, Iovance is evaluating LN-145, an investigational cell therapy, as a potential treatment for head and neck squamous cell carcinoma (HNSCC) and non-small cell lung cancer (NSCLC) in two separate mid-stage studies, C-145-03 and IOV-LUN-202, respectively.
In March, the FDA removed a clinical hold on the IOV-LUN-202 study after reviewing Iovance’s proposal for additional safety measures and monitoring. The hold was placed in December after a grade 5 (fatal) adverse effect was observed in the study.
During the quarter, Iovance announced plans to expand its clinical pipeline with a new cell therapy program for endometrial cancer indication by first-half 2024. Investors are also likely to seek an update from Iovance on this program and other ongoing early-stage pipeline candidates.
Earnings Surprise History
Iovance’s shares have surged 67.7% year to date against the industry’s 5.7% fall.
Image Source: Zacks Investment Research
Iovance’s earnings performance has been mixed over the trailing four quarters. The company’s earnings beat estimates in two of the last four quarters and missed the mark once while meeting the mark on one occasion. On average, IOVA registered an earnings surprise of 20.05% in the last four quarters.
Iovance Biotherapeutics, Inc. Price and EPS Surprise
Iovance Biotherapeutics, Inc. price-eps-surprise | Iovance Biotherapeutics, Inc. Quote
Earnings Whispers
Our proven model does not predict an earnings beat for Iovance this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Iovance has an Earnings ESP of 0.00% as the Most Accurate Estimate and Zacks Consensus Estimate are pegged at a loss of 45 cents.
Zacks Rank: Iovance currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ANI Pharmaceuticals (ANIP - Free Report) has an Earnings ESP of +9.74% and a Zacks Rank #2.
ANI Pharmaceuticals’ shares have risen 22.0% year to date. ANIPbeat earnings estimates in each of the last four quarters, delivering an earnings surprise of 109.06% on average. ANI Pharmaceuticals will report first-quarter 2024 results on May 10, before the opening bell.
argenx (ARGX - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #3.
The stock has gained 2.0% year to date. argenx beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting the mark on another. On average, argenx witnessed an earnings surprise of 14.18% in the last four quarters. ARGX will report first-quarter 2024 results on May 9, before the opening bell.
AnaptysBio (ANAB - Free Report) has an Earnings ESP of +8.36% and a Zacks Rank #3.
AnaptysBio’s shares have risen 24.1% year to date. ANAB beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, AnaptysBio delivered a negative earnings surprise of 4.05% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.