Overview
- UBS raised its Iovance price target to $4 from $2 with a Neutral rating, citing better Q4 fundamentals but uncertainty on Amtagvi acceleration, as Wells Fargo reiterated a $14 target with a Buy.
- The stock jumped about 33% for the week to a new high, touching $5.34 intraday Friday before closing at $5.13, up 12% on the day.
- For fiscal 2025, revenue rose 60.6% to $263.5 million as the full-year net loss widened to $390.98 million, while Q4 revenue grew 17.6% to $86.7 million and the quarterly net loss narrowed to $71.9 million.
- Management attributed recent growth to expanding commercialization of Amtagvi for advanced melanoma across academic and community treatment centers.
- Amtagvi holds FDA Fast Track for non-small cell lung cancer, Iovance is pursuing approvals in the EU, UK, and Australia, and the therapy was approved in Canada last year.