10-Q Filing

IOVANCE BIOTHERAPEUTICS, INC. CIK: 1425205 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001558370-23-009134`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	iova-20230331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 20 Cash Flow Statement 54 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$231.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$543.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$92.36M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$240.11M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$82.81M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.27M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.49M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$479.12M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$637.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$109.92M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$105.23M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$73.02M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$70.43M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$6.08M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$6.43M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$6.43M	USD	Point-in-time
Long-term assets	`OtherAssetsNoncurrent`	$189.00K	USD	Point-in-time
Long-term assets	`OtherAssetsNoncurrent`	$202.00K	USD	Point-in-time
Total Assets	`Assets`	$824.77M	USD	Point-in-time
Total Assets	`Assets`	$663.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$43.09M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$52.30M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$12.61M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$12.59M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$87.27M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$91.48M	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$69.61M	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$71.86M	USD	Point-in-time
Long-term note payable	`LongTermNotesPayable`	$1.00M	USD	Point-in-time
Long-term note payable	`LongTermNotesPayable`	$1.00M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$70.61M	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$72.86M	USD	Point-in-time
Total Liabilities	`Liabilities`	$157.89M	USD	Point-in-time
Total Liabilities	`Liabilities`	$164.34M	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, 224,358,979 and 157,004,742 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $0.000041666 par value; 300,000,000 shares authorized, 224,358,979 and 157,004,742 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-902.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-126.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.34B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.07B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.68B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.57B	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$499.64M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$551.99M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$666.88M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$621.66M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$663.98M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$824.77M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$68.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$82.73M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$23.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$28.12M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$91.71M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$110.86M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-110.86M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-91.71M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$3.49M	USD	1 Quarter
Interest income, net	`InvestmentIncomeInterest`	$106.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-107.37M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-91.61M	USD	1 Quarter
Net Loss Per Share of Common Stock, Basic	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Net Loss Per Share of Common Stock, Basic	`EarningsPerShareBasic`	$-0.58	USD	1 Quarter
Net Loss Per Share of Common Stock, Diluted	`EarningsPerShareDiluted`	$-0.58	USD	1 Quarter
Net Loss Per Share of Common Stock, Diluted	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter
Weighted Average Shares of Common Stock Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	157.11M	shares	1 Quarter
Weighted Average Shares of Common Stock Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	213.69M	shares	1 Quarter
Weighted Average Shares of Common Stock Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	213.69M	shares	1 Quarter
Weighted Average Shares of Common Stock Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	157.11M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-107.37M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-91.61M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$22.27M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$15.66M	USD	1 Quarter
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$2.93M	USD	1 Quarter
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$3.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.80M	USD	1 Quarter
Accretion of discounts and premiums on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$978.00K	USD	1 Quarter
Accretion of discounts and premiums on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-541.00K	USD	1 Quarter
Loss on write-off of fixed assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Loss on write-off of fixed assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$314.00K	USD	1 Quarter
Prepaid expenses, other assets and long-term assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.71M	USD	1 Quarter
Prepaid expenses, other assets and long-term assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.23M	USD	1 Quarter
Operating lease liabilities, net of tenant improvement allowance received	`IncreaseDecreaseInOperatingLeaseLiability`	$-2.57M	USD	1 Quarter
Operating lease liabilities, net of tenant improvement allowance received	`IncreaseDecreaseInOperatingLeaseLiability`	$690.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.10M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.02M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.16M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.05M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-73.80M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-99.81M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$143.51M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$164.38M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$5.32M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$45.55M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.44M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.66M	USD	1 Quarter
Net cash provided by / (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$86.52M	USD	1 Quarter
Net cash provided by / (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$153.40M	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Tax payments related to shares withheld for vested restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.93M	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from the issuance of common stock upon exercise of options	`ProceedsFromStockOptionsExercised`	$1.42M	USD	1 Quarter
Proceeds from the issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$260.10M	USD	1 Quarter
Proceeds from the issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$258.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.42M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$311.75M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$14.13M	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$549.91M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$238.16M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.31M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$98.44M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$549.91M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$238.16M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.31M	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$98.44M	USD	Point-in-time
Net unrealized loss on investments	`UnrealizedGainLossOnInvestments`	$-1.74M	USD	1 Quarter
Net unrealized loss on investments	`UnrealizedGainLossOnInvestments`	$776.00K	USD	1 Quarter
Acquisition of property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$4.90M	USD	1 Quarter
Acquisition of property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$7.78M	USD	1 Quarter
Lease liabilities arising from obtaining right-of-use asset from lease modifications	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityFromLeaseModifications`	$349.00K	USD	1 Quarter
Lease liabilities arising from obtaining right-of-use asset from lease modifications	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityFromLeaseModifications`	$7.67M	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$499.64M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$551.99M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$666.88M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$621.66M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$22.27M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$15.66M	USD	1 Quarter
Tax payments related to shares retired for vested restricted stock units	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationsNet`	$-1.93M	USD	1 Quarter
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.42M	USD	1 Quarter
Common stock sold in public offering, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$260.10M	USD	1 Quarter
Unrealized gain/(loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$776.00K	USD	1 Quarter
Unrealized gain/(loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-107.37M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-91.61M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$499.64M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$551.99M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$666.88M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$621.66M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-107.37M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-91.61M	USD	1 Quarter
Unrealized gain/(loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$776.00K	USD	1 Quarter
Unrealized gain/(loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.74M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-106.59M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-93.35M	USD	1 Quarter

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