10-Q Filing

IOVANCE BIOTHERAPEUTICS, INC. CIK: 1425205 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-131686`
Period End Date	20160930
Filing Date	20161104
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	lbio-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 45 Cash Flow Statement 48 Stockholders Equity 22 Comprehensive Income 12

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$92.89M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$70.11M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$86.39M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.27M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$277.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$103.98M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$180.56M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.77M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.68M	USD	Point-in-time
Total Assets	`Assets`	$182.32M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total Assets	`Assets`	$105.65M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	48.55M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	61.95M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$228.00K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	48.55M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$958.00K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	61.95M	shares	Point-in-time
Common Stock To Be Issued Shares	`CommonStockToBeIssuedShares`	303,125.00	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.97M	USD	Point-in-time
Common Stock To Be Issued Shares	`CommonStockToBeIssuedShares`	303,125.00	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$672.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.63M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.19M	USD	Point-in-time
Commitments and contingencies (see note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 61,948,389 and 48,547,720 shares issued and outstanding, respectively	`CommonStockValue`	$3.00K	USD	Point-in-time
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 61,948,389 and 48,547,720 shares issued and outstanding, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock to be issued, 303,125 shares	`CommonStockToBeIssuedValue`	$245.00K	USD	Point-in-time
Common stock to be issued, 303,125 shares	`CommonStockToBeIssuedValue`	$245.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$163.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$48.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$207.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$320.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-141.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-104.22M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$179.13M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$104.02M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$105.65M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$182.32M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.96M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.20M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.48M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.41M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.97M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$20.52M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$37.72M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$7.64M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$19.38M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$18.98M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-18.98M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.64M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-19.38M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-37.72M	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$8.00K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$81.00K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$221.00K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$511.00K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-19.30M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-37.21M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-18.76M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.63M	USD	1 Quarter
Deemed dividend related to beneficial conversion feature of convertible preferred stock	`OtherPreferredStockDividendsAndAdjustments`	-	USD	3 Qtrs
Deemed dividend related to beneficial conversion feature of convertible preferred stock	`OtherPreferredStockDividendsAndAdjustments`	$49.50M	USD	Point-in-time
Deemed dividend related to beneficial conversion feature of convertible preferred stock	`OtherPreferredStockDividendsAndAdjustments`	$49.45M	USD	3 Qtrs
Deemed dividend related to beneficial conversion feature of convertible preferred stock	`OtherPreferredStockDividendsAndAdjustments`	$49.45M	USD	1 Quarter
Deemed dividend related to beneficial conversion feature of convertible preferred stock	`OtherPreferredStockDividendsAndAdjustments`	-	USD	1 Quarter
Net loss Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-68.21M	USD	1 Quarter
Net loss Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-19.30M	USD	3 Qtrs
Net loss Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.63M	USD	1 Quarter
Net loss Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-86.66M	USD	3 Qtrs
Net Loss Per Common Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.44	USD	3 Qtrs
Net Loss Per Common Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.15	USD	1 Quarter
Net Loss Per Common Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Net Loss Per Common Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.64	USD	3 Qtrs
Weighted-Average Common Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	52.96M	shares	3 Qtrs
Weighted-Average Common Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	59.11M	shares	1 Quarter
Weighted-Average Common Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	43.40M	shares	3 Qtrs
Weighted-Average Common Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	47.27M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-19.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-37.21M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-18.76M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$691.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$688.00K	USD	3 Qtrs
Amortization of premium on investments	`InvestmentIncomeAmortizationOfPremium`	-	USD	3 Qtrs
Amortization of premium on investments	`InvestmentIncomeAmortizationOfPremium`	$-69.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$15.78M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$5.78M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$163.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$997.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.29M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.19M	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.80M	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-20.51M	USD	3 Qtrs
Purchase of short- term investments	`PaymentsToAcquireAvailableForSaleSecurities`	$95.24M	USD	3 Qtrs
Purchase of short- term investments	`PaymentsToAcquireAvailableForSaleSecurities`	$110.25M	USD	3 Qtrs
Maturities of short- term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$15.90M	USD	3 Qtrs
Maturities of short- term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$94.16M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$781.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$992.00K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-80.33M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-16.87M	USD	3 Qtrs
Tax payments related to shares witheld for vested restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	3 Qtrs
Tax payments related to shares witheld for vested restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$354.00K	USD	3 Qtrs
Proceeds from the issuance of common stock upon exercise of warrants	`ProceedsFromWarrantExercises`	$879.00K	USD	3 Qtrs
Proceeds from the issuance of common stock upon exercise of warrants	`ProceedsFromWarrantExercises`	$9.62M	USD	3 Qtrs
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$478.00K	USD	3 Qtrs
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$66.00K	USD	3 Qtrs
Proceeds from the issuance of preferred and common stock, net	`ProceedsFromIssuanceOrSaleOfEquity`	$68.31M	USD	3 Qtrs
Proceeds from the issuance of preferred and common stock, net	`ProceedsFromIssuanceOrSaleOfEquity`	$95.69M	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$96.69M	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$77.99M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$59.31M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.14M	USD	3 Qtrs
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$44.91M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$33.59M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$92.89M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$44.91M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$30.77M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$33.59M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$92.89M	USD	Point-in-time
Unrealized gain on short-term investments	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$48.00K	USD	3 Qtrs
Unrealized gain on short-term investments	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$115.00K	USD	3 Qtrs
Deemed dividend related to a beneficial conversion feature	`DeemedDividendRelatedToBeneficialConversionFeature`	$49.45M	USD	3 Qtrs
Deemed dividend related to a beneficial conversion feature	`DeemedDividendRelatedToBeneficialConversionFeature`	-	USD	3 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$179.13M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$104.02M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$15.78M	USD	3 Qtrs
Tax payments related to shares witheld for vested restricted stock awards	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-624.00K	USD	3 Qtrs
Common stock issued upon exercise of warrants	`CommonStockIssuedUponExerciseOfWarrantsAmount`	$879.00K	USD	3 Qtrs
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$478.00K	USD	3 Qtrs
Common stock sold in private placement, net of offering costs	`StockIssuedDuringPeriodValueOther`	$44.01M	USD	3 Qtrs
Preferred stock sold in private placement, net of offering costs	`Preferredstocksoldinprivateplacementvalue`	$51.68M	USD	3 Qtrs
Conversion of convertible preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	3 Qtrs
Cancellation of restricted shares	`StockCancelledDuringPeriodRestrictedSharesValue`	-	USD	3 Qtrs
Beneficial conversion feature of preferred stock	`AdjustmentsToAdditionalPaidInCapitalPreferredStockWithConversionFeature`	$49.45M	USD	3 Qtrs
Deemed dividend on beneficial conversion feature of preferred stock	`AdjustmentsToAdditionalPaidInCapitalOther`	$-49.45M	USD	3 Qtrs
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$115.00K	USD	3 Qtrs
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$85.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$16.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$38.00K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-19.30M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-37.21M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-18.76M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.63M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$179.13M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$104.02M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-19.30M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-37.21M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-18.76M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.63M	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$115.00K	USD	3 Qtrs
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$85.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$16.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$38.00K	USD	3 Qtrs
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-19.26M	USD	3 Qtrs
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-7.62M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-18.67M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-37.09M	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.