IOVAIOVANCE BIOTHERAPEUTICS, INC.
Biological Products, (no Diagnostic Substances)
- Revenue
- $264M
- 61% YoY
- Operating margin
- -153.1%
- 36% YoY
- EBITDA
- −$390M
- 1.7% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired23% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | — | $1M | $164M | $264M | 61% |
| Operating income | −$343M | −$399M | −$461M | −$395M | −$403M | 2.0% |
| Net income | −$342M | −$396M | −$444M | −$372M | −$391M | 5.1% |
| Operating cash flow | −$228M | −$293M | −$362M | −$353M | −$302M | 14% |
| Capex | $38M | $20M | $22M | $11M | $34M | 206% |
| Stock-based comp | $70M | $84M | $63M | $110M | $62M | 44% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 6 | 125 |
| FY2024 | — | — | 27 | 118 |
| FY2023 | — | — | 29 | 119 |
| FY2022 | — | — | 23 | 114 |
| FY2021 | — | — | 69 | 126 |