10-Q Filing

IOVANCE BIOTHERAPEUTICS, INC. CIK: 1425205 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-006301`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	iova-20210331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 16 Cash Flow Statement 51 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.33M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$562.11M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$472.20M	USD	Point-in-time
Short-term investments	`Shortterminvestmentsforsale`	$461.98M	USD	1 Quarter
Short-term investments	`Shortterminvestmentsforsale`	$562.11M	USD	Annual
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.66M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.29M	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`	$605.22M	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$636.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$72.75M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.16M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	146.87M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$55.13M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$54.76M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	149.32M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$10.23M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	146.87M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	149.32M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$5.53M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$5.53M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$6.08M	USD	Point-in-time
Long-term assets	`OtherAssetsNoncurrent`	$12.92M	USD	Point-in-time
Long-term assets	`OtherAssetsNoncurrent`	$1.16M	USD	Point-in-time
Total Assets	`Assets`	$768.46M	USD	Point-in-time
Total Assets	`Assets`	$750.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.51M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$35.77M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$35.07M	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$6.28M	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$5.92M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$55.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$54.87M	USD	Point-in-time
Operating lease liabilities - noncurrent	`OperatingLeaseLiabilityNoncurrent`	$45.38M	USD	Point-in-time
Operating lease liabilities - noncurrent	`OperatingLeaseLiabilityNoncurrent`	$47.08M	USD	Point-in-time
Long-term note payable	`LongTermNotesPayable`	$1.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$11.71M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$48.08M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$57.09M	USD	Point-in-time
Total Liabilities	`Liabilities`	$111.96M	USD	Point-in-time
Total Liabilities	`Liabilities`	$103.14M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.000041666 par value; 300,000,000 shares authorized, 149,315,299 and 146,874,917 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.000041666 par value; 300,000,000 shares authorized, 149,315,299 and 146,874,917 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$6.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$19.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$96.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.55B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.49B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-905.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-830.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$656.50M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$243.31M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$647.43M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$298.97M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$750.57M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$768.46M	USD	Point-in-time

Income Statement 16 line items

Line Item	Tag	Value	Unit	Period
Research and development expenses	`ResearchAndDevelopmentExpense`	$55.95M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$56.95M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$19.62M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$13.86M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$70.81M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$75.57M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-75.57M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-70.81M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$1.22M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$121.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-75.45M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-69.59M	USD	1 Quarter
Net Loss Per Share of Common Stock, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	1 Quarter
Net Loss Per Share of Common Stock, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.55	USD	1 Quarter
Weighted Average Shares of Common Stock Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	126,568.00	shares	1 Quarter
Weighted Average Shares of Common Stock Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	147,370.00	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-75.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-69.59M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$16.94M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.41M	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$1.87M	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$2.29M	USD	1 Quarter
Accretion (amortization) of discounts and premiums on investments	`AmortizationOfDebtDiscountPremium`	$-50.00K	USD	1 Quarter
Accretion (amortization) of discounts and premiums on investments	`AmortizationOfDebtDiscountPremium`	$2.07M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$372.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$252.00K	USD	1 Quarter
Prepaid expenses, other assets, and long-term assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.13M	USD	1 Quarter
Prepaid expenses, other assets, and long-term assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.32M	USD	1 Quarter
Right-of-use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$2.66M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-2.46M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$1.34M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.77M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.36M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-14.40M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-62.39M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-65.29M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$158.29M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$113.67M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$12.92M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$70.37M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.71M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$637.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$77.21M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$100.11M	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$118.00K	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$3.95M	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$6.48M	USD	1 Quarter
Proceeds from the issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$42.88M	USD	1 Quarter
Proceeds from the issuance of debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.36M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.83M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$38.65M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$65.18M	USD	1 Quarter
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$58.06M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.85M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$138.04M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.42M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$58.06M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.85M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$138.04M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.42M	USD	Point-in-time
Net unrealized (loss) gain on short-term investments	`UnrealizedGainLossOnShortTermInvestments`	$77.00K	USD	1 Quarter
Net unrealized (loss) gain on short-term investments	`UnrealizedGainLossOnShortTermInvestments`	$692.00K	USD	1 Quarter
Acquisitions of property and equipment included in accounts payable and accrued expense	`AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense`	$4.69M	USD	1 Quarter
Acquisitions of property and equipment included in accounts payable and accrued expense	`AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense`	$3.26M	USD	1 Quarter
Conversion of convertible preferred stock to common stock	`ConversionOfStockAmountConverted1`	$1.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$656.50M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$243.31M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$647.43M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$298.97M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$9.41M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.94M	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock units	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-118.00K	USD	1 Quarter
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.95M	USD	1 Quarter
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$6.48M	USD	1 Quarter
Common stock issued upon exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	423,178.00	shares	1 Quarter
Common stock sold in public offering, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$42.88M	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$692.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$77.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-75.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-69.59M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$656.50M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$243.31M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$647.43M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$298.97M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-75.45M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-69.59M	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$692.00K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$77.00K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-68.90M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-75.37M	USD	1 Quarter

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