Iovance Biotherapeutics (IOVA) Wells Fargo 2024 Healthcare Conference summary

Launch progress and treatment center expansion

• Amtagvi therapy approved in mid-February and launched with 30 authorized treatment centers, expanding to 51 by July and targeting 70 by year-end.

• Month-over-month demand is growing, with capacity investments ensuring the ability to meet this demand.

• Most patients now have insurance coverage, accelerating access and reducing payer-related delays.

• High-performing centers are emerging, with distribution trends similar to other cell therapies; top centers expected to handle a significant share of infusions.

• Patient access is prioritized, aiming to minimize travel distances and ensure broad regional coverage.

Revenue guidance and financial outlook

• Confident in Q3 2024 revenue guidance of $53–$55 million and 2025 guidance of $450–$475 million.

• Guidance includes both Amtagvi and Proleukin, with Proleukin expected to stabilize at 15% of revenue within a few quarters.

• Capacity planning is closely aligned with projected patient volumes, with current facilities supporting up to 2,000 patients and expansion plans to 5,000 annually.

• Manufacturing and scheduling processes are being optimized to minimize wait times and friction for treatment centers.

Operational efficiency and patient journey

• Enrollment to infusion time averages 8–10 weeks, with efforts underway to reduce this to 6–8 weeks.

• Manufacturing success rates and patient dropout rates are in line with clinical experience, with ongoing education and process improvements to further reduce dropouts.

• Peer-to-peer and medical affairs teams provide real-time support to centers, enhancing operational efficiency and knowledge transfer.