Gross margin was 31% excluding noncash items, with expectations for improvement due to restructuring and manufacturing optimization.
Iovance reported $60 million in total revenue for Q2 2025, a 22% increase over the prior quarter, with $54 million from Amtagvi infusions and $6 million from Proleukin.
Net cash burn is expected to be less than $245 million over the next four quarters, with a cash position of approximately $307 million sufficient to fund operations into Q4 2026.
Operating expenses increased to approximately $117 million from $102 million year-over-year, driven by higher headcount, clinical trials, and marketing costs.
The company announced a strategic restructuring including a 19% workforce reduction expected to generate over $100 million in annual cost savings starting Q4 2025.