Shares of Iovance Biotherapeutics IOVA touched a 52-week high yesterday after the company raised its full-year 2026 total revenue guidance. The stock is currently trading at $14.45.
Iovance now expects total revenues of $410-$420 million, up from the previous guidance of $350-$370 million in 2026. The midpoint of the new range reflects an increase of $55 million, or approximately 15%, from the prior outlook.
IOVA stock surged 31.5% yesterday following the announcement of the news.
The raised outlook reflects strong demand for IOVA’s marketed therapies Amtagvi (lifileucel) and Proleukin in the United States. Per management, increasing patient demand, along with its current manufacturing schedule, provides visibility into revenues for the third and fourth quarters of 2026.
The company plans to report its third-quarter 2026 results in early November.
IOVA Price Performance
Year to date, shares of Iovance have skyrocketed 429.3% compared with the industry’s rise of 8.9%.
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Amtagvi Drives IOVA’s Top-Line Growth
Iovance has established its position in tumor-infiltrating lymphocyte (TIL) therapy for solid tumors. The company’s lead marketed product, Amtagvi, is the first FDA-approved one-time T-cell therapy treatment for people with previously treated melanoma that has spread or cannot be removed by surgery.
Amtagvi recorded $151 million in sales in the first half of 2026, increasing around 54% year over year, backed by underlying organic demand. Management expects demand to continue rising through the remainder of 2026.
Amtagvi’s commercial uptake has been encouraging since launch and its demand is also rising. Iovance has approximately 100 authorized treatment centers (ATCs) across various countries and expects expansion to at least 110 ATCs by the end of 2026.
Iovance is also evaluating Amtagvi across several additional solid tumors, including non-small cell lung cancer (NSCLC), where management estimates the targeted U.S. opportunity at about seven times the size of advanced melanoma.
Proleukin is approved to treat metastatic renal cell carcinoma and metastatic melanoma in adults.
Amtagvi demand is also supporting Proleukin sales, as the drug forms part of the treatment regimen. Management expects Proleukin revenues to grow during the remainder of 2026, in line with increasing Amtagvi utilization.
Iovance Biotherapeutics, Inc. Price
Iovance Biotherapeutics, Inc. price | Iovance Biotherapeutics, Inc. Quote
IOVA’s Zacks Rank & Stocks to Consider
Iovance currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are AC Immune ACIU and Precigen PGEN, both sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for AC Immune’s 2026 loss per share has narrowed from 84 cents to 60 cents. Over the same period, earnings estimates for 2027 have remained unchanged at 17 cents per share. ACIU shares have lost 17.2% year to date.
AC Immune’s earnings beat Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 33.25%.
Over the past 60 days, estimates for Precigen’s 2026 bottom line have moved from a loss of 2 cents to earnings of 24 cents. Earnings estimates for 2027 have increased from 25 cents to 73 cents per share during the same time. PGEN’s shares have rallied 92.6% year to date.
Precigen’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 108.96%.
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This article originally published on Zacks Investment Research (zacks.com).