Iovance (IOVA) Stock Soars After Better-Than-Expected Q2 Results

Iovance Biotherapeutics Inc (NASDAQ: IOVA ) shares are surging Thursday after the cancer therapy company beat second-quarter expectations on both the top and bottom lines. Here’s what you should know. Iovance Biotherapeutics shares are testing new highs. What’s driving IOVA to record levels? Record Revenue and an Earnings Beat Set the Tone Iovance reported a loss of 11 cents per share for the second quarter, beating estimates for a loss of 14 cents per share, while total revenue of $99.3 million surpassed the $87.8 million the Street had been modeling and represented a 66% increase from the $60 million produced in the comparable quarter a year earlier. U.S. Amtagvi revenue reached approximately $91 million, while global Proleukin contributed approximately $9 million and is expected to grow through the remainder of the year. Gross margin reached 56%, reflecting the combined...