10-Q Filing

IOVANCE BIOTHERAPEUTICS, INC. CIK: 1425205 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-024279`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	iova-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 18 Cash Flow Statement 59 Stockholders Equity 28 Comprehensive Income 6

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$297.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$145.37M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$385.93M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesCurrent`	$386.37M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.74M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.64M	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
Total Current Assets	`AssetsCurrent`	$444.75M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$475.16M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.50M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	123.42M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	123.40M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$9.96M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	123.40M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	123.42M	shares	Point-in-time
Long-term assets	`OtherAssetsNoncurrent`	$3.29M	USD	Point-in-time
Long-term assets	`OtherAssetsNoncurrent`	$2.98M	USD	Point-in-time
Total Assets	`Assets`	$480.82M	USD	Point-in-time
Total Assets	`Assets`	$461.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.74M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.66M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.49M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$6.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$22.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$14.40M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$4.38M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$53.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$230.00K	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$4.43M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$230.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$26.57M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.63M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 123,395,113 and 123,415,576 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 123,395,113 and 123,415,576 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$138.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-42.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$838.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$844.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-372.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-410.01M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$466.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$145.48M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$292.56M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$434.93M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$461.50M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$480.82M	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$19.91M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$30.91M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.96M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$9.08M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$26.88M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$39.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-39.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-26.88M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$362.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$3.04M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-26.52M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-36.95M	USD	1 Quarter
Net Loss Per Common Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	1 Quarter
Net Loss Per Common Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Weighted-Average Common Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	84,350.00	shares	1 Quarter
Weighted-Average Common Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	123,415.00	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-26.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-36.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$228.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$271.00K	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	-	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$1.42M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-9.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on settlement of dispute	`GainLossRelatedToLitigationSettlement`	$335.00K	USD	1 Quarter
Gain on settlement of dispute	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Accretion (amortization) of discounts and premiums on investments	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Accretion (amortization) of discounts and premiums on investments	`AmortizationOfDebtDiscountPremium`	$-1.23M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.10M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.85M	USD	1 Quarter
Prepaid expenses, other assets, and long-term assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$368.00K	USD	1 Quarter
Prepaid expenses, other assets, and long-term assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.59M	USD	1 Quarter
Operating lease liabilities (right-of-use assets)	`IncreaseDecreaseInOperatingLeaseRightOfUseAsset`	$-942.00K	USD	1 Quarter
Operating lease liabilities (right-of-use assets)	`IncreaseDecreaseInOperatingLeaseRightOfUseAsset`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.24M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.58M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreasedecreaseInOperatingLeaseLiability`	$-3.35M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreasedecreaseInOperatingLeaseLiability`	$-546.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.09M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.85M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$91.04M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	-	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireAvailableForSaleSecurities`	$89.19M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$824.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.03M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$71.00K	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$62.00K	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of warrants	`ProceedsFromWarrantExercises`	$1.83M	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$5.63M	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$69.00K	USD	1 Quarter
Proceeds from the issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$162.19M	USD	1 Quarter
Proceeds from the issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from the issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$236.70M	USD	Point-in-time
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$169.58M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.00K	USD	1 Quarter
Net (decrease) / increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$151.71M	USD	1 Quarter
Net (decrease) / increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-28.06M	USD	1 Quarter
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$82.15M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$54.09M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$297.08M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$145.37M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$82.15M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$54.09M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$297.08M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$145.37M	USD	Point-in-time
Unrealized gain on short-term investments	`UnrealizedGainLossOnShorttermInvestments`	-	USD	1 Quarter
Unrealized gain on short-term investments	`UnrealizedGainLossOnShorttermInvestments`	$180.00K	USD	1 Quarter
Acquisitions of property and equipment included in accounts payable	`LeaseholdImprovementsPaidByLandlord`	$12.00K	USD	1 Quarter
Acquisitions of property and equipment included in accounts payable	`LeaseholdImprovementsPaidByLandlord`	$268.00K	USD	1 Quarter
Offering costs under accounts payable and accrued expenses	`OfferingCostsUnderAccountsPayableAndAccruedExpenses`	$-93.00K	USD	1 Quarter
Offering costs under accounts payable and accrued expenses	`OfferingCostsUnderAccountsPayableAndAccruedExpenses`	-	USD	1 Quarter

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$466.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$145.48M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$292.56M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$434.93M	USD	Point-in-time
Adoption of ASU 2018-07	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	-	USD	Point-in-time
Adoption of ASU 2018-07	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$300.00K	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.85M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.10M	USD	1 Quarter
Vesting of restricted shares issued for services	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Vesting of restricted shares issued for services	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Cancellation of restricted shares	`StockCancelledDuringPeriodRestrictedSharesValue`	-	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock units	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$71.00K	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock units	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$60.00K	USD	1 Quarter
Common stock issued upon exercise of warrants	`CommonStockIssuedUponExerciseOfWarrantsAmount`	$1.83M	USD	1 Quarter
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$69.00K	USD	1 Quarter
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.63M	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$180.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Cancellation of common shares from settlement of dispute	`StockCancelledDuringPeriodValueOfCommonStock`	$-336.00K	USD	1 Quarter
Common stock sold in public offering, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$162.09M	USD	1 Quarter
Common stock sold in public offering, net of offering costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	25.30M	shares	Point-in-time
Common stock sold in public offering, net of offering costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	50,000.00	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-26.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-36.95M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$466.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$145.48M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$292.56M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$434.93M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-26.52M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-36.95M	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$180.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-26.52M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-36.77M	USD	1 Quarter

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