$IOVA
IOVANCE BIOTHERAPEUTICS, INC.

2020 Q2 Form 10-Q Financial Statement

#000110465920091526 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.35M $10.87M $9.080M
YoY Change 32.01% 59.15% 30.27%
% of Gross Profit
Research & Development $49.27M $39.30M $30.91M
YoY Change 25.39% 60.07% 55.21%
% of Gross Profit
Depreciation & Amortization $200.0K $290.0K $271.0K
YoY Change -31.03% 31.82% 17.83%
% of Gross Profit
Operating Expenses $63.63M $50.17M $39.99M
YoY Change 26.84% 59.87% 48.77%
Operating Profit -$63.63M -$50.17M -$39.99M
YoY Change 26.84% 59.87% 48.77%
Interest Expense $610.0K $2.610M $3.040M
YoY Change -76.63% 262.5% 744.44%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$63.02M -$47.55M -$36.95M
YoY Change 32.53% 55.09% 39.33%
Income Tax
% Of Pretax Income
Net Earnings -$63.02M -$47.55M -$36.95M
YoY Change 32.53% 55.09% 39.36%
Net Earnings / Revenue
Basic Earnings Per Share -$0.47
Diluted Earnings Per Share -$0.47 -$384.8K -$299.4K
COMMON SHARES
Basic Shares Outstanding 126.9M 123.5M 123.4M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $771.9M $404.2M $440.0M
YoY Change 90.97% 46.4% 48.1%
Cash & Equivalents $160.6M $76.91M $54.09M
Short-Term Investments $611.3M $327.2M $385.9M
Other Short-Term Assets $10.80M $6.800M $4.700M
YoY Change 58.82% 83.78% -16.07%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $782.7M $410.9M $444.8M
YoY Change 90.46% 46.88% 46.93%
LONG-TERM ASSETS
Property, Plant & Equipment $18.73M $4.472M $3.504M
YoY Change 318.74% 65.26% 59.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.182M $3.345M $3.288M
YoY Change -4.87% 47.75% 44.53%
Total Long-Term Assets $34.91M $24.99M $16.75M
YoY Change 39.73% 402.74% 272.2%
TOTAL ASSETS
Total Short-Term Assets $782.7M $410.9M $444.8M
Total Long-Term Assets $34.91M $24.99M $16.75M
Total Assets $817.6M $435.9M $461.5M
YoY Change 87.55% 53.09% 50.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.24M $12.78M $7.589M
YoY Change -19.9% 146.0% 14.98%
Accrued Expenses $38.79M $13.57M $8.489M
YoY Change 185.88% 51.01% 4.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $54.91M $33.84M $22.14M
YoY Change 62.27% 138.58% 50.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.352M $53.00K $53.00K
YoY Change 4337.74%
Total Long-Term Liabilities $4.353M $4.666M $4.433M
YoY Change -6.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.91M $33.84M $22.14M
Total Long-Term Liabilities $4.353M $4.666M $4.433M
Total Liabilities $59.26M $38.50M $26.57M
YoY Change 53.91% 171.14% 80.75%
SHAREHOLDERS EQUITY
Retained Earnings -$703.2M -$457.6M $300.0K
YoY Change 53.69% 49.36% -100.11%
Common Stock $6.000K $5.000K $5.000K
YoY Change 20.0% 25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $758.3M $397.4M $434.9M
YoY Change
Total Liabilities & Shareholders Equity $817.6M $435.9M $461.5M
YoY Change 87.55% 53.09% 50.21%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$63.02M -$47.55M -$36.95M
YoY Change 32.53% 55.09% 39.36%
Depreciation, Depletion And Amortization $200.0K $290.0K $271.0K
YoY Change -31.03% 31.82% 17.83%
Cash From Operating Activities -$36.64M -$33.80M -$29.09M
YoY Change 8.4% 41.3% 62.98%
INVESTING ACTIVITIES
Capital Expenditures -$4.970M -$1.440M $824.0K
YoY Change 245.14% 242.86% 3645.45%
Acquisitions
YoY Change
Other Investing Activities -$418.8M $60.11M $1.860M
YoY Change -796.69% -299.83%
Cash From Investing Activities -$423.8M $58.69M $1.033M
YoY Change -822.03% -292.43% -4795.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $567.0M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 568.5M 3.380M -2.000K
YoY Change 16718.64% 0.6% -100.0%
NET CHANGE
Cash From Operating Activities -36.64M -33.80M -29.09M
Cash From Investing Activities -423.8M 58.69M 1.033M
Cash From Financing Activities 568.5M 3.380M -2.000K
Net Change In Cash 108.1M 28.27M -28.06M
YoY Change 282.28% -155.37% -118.5%
FREE CASH FLOW
Cash From Operating Activities -$36.64M -$33.80M -$29.09M
Capital Expenditures -$4.970M -$1.440M $824.0K
Free Cash Flow -$31.67M -$32.36M -$29.91M
YoY Change -2.13% 37.7% 67.39%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
126411808
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
146434810
dei Entity Central Index Key
EntityCentralIndexKey
0001425205
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2020-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-36860
dei Entity Registrant Name
EntityRegistrantName
IOVANCE BIOTHERAPEUTICS, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
75-3254381
dei Entity Address Address Line1
EntityAddressAddressLine1
999 Skyway Road, Suite 150
dei Entity Address City Or Town
EntityAddressCityOrTown
San Carlos
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94070
dei City Area Code
CityAreaCode
650
dei Local Phone Number
LocalPhoneNumber
260-7120
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
dei Security12b Title
Security12bTitle
Common stock, par value $0.000041666 per value
dei Trading Symbol
TradingSymbol
IOVA
dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
146443212
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
160614000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13969000
CY2020Q2 us-gaap Short Term Investments
ShortTermInvestments
611265000
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
293112000
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10775000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9412000
CY2020Q2 us-gaap Assets Current
AssetsCurrent
782654000
CY2019Q4 us-gaap Assets Current
AssetsCurrent
316493000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18726000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8536000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7480000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10695000
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
5525000
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
5450000
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3182000
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3481000
CY2020Q2 us-gaap Assets
Assets
817567000
CY2019Q4 us-gaap Assets
Assets
344655000
CY2020Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
10238000
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
15567000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
38794000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16265000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5873000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7252000
CY2020Q2 us-gaap Liabilities Current
LiabilitiesCurrent
54905000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
39084000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2001000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4248000
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2352000
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2352000
CY2020Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
4353000
CY2019Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
6600000
CY2020Q2 us-gaap Liabilities
Liabilities
59258000
CY2019Q4 us-gaap Liabilities
Liabilities
45684000
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000041666
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000041666
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
146434810
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
126411808
CY2020Q2 us-gaap Common Stock Value
CommonStockValue
6000
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
5000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
317000
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
220000
CY2020Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1461207000
CY2019Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
869354000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-703225000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-570612000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
758309000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
298971000
CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
817567000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
344655000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
49274000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
39298000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
106226000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
70203000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14353000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10867000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
28211000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19948000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
63627000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
50165000
us-gaap Operating Expenses
OperatingExpenses
134437000
us-gaap Operating Expenses
OperatingExpenses
90151000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-63627000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-50165000
us-gaap Operating Income Loss
OperatingIncomeLoss
-134437000
us-gaap Operating Income Loss
OperatingIncomeLoss
-90151000
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
609000
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2614000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1824000
us-gaap Investment Income Interest
InvestmentIncomeInterest
5650000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-63018000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-47551000
us-gaap Net Income Loss
NetIncomeLoss
-132613000
us-gaap Net Income Loss
NetIncomeLoss
-84501000
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.47
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.68
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
133162
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
123567
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
129848
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
123491
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-63018000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-47551000
us-gaap Net Income Loss
NetIncomeLoss
-132613000
us-gaap Net Income Loss
NetIncomeLoss
-84501000
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-595000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
234000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
97000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
414000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-63613000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-47317000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-132516000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-84087000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
298971000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19949000
us-gaap Net Income Loss
NetIncomeLoss
-132613000
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
-283000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5188000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
97000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
567000000
us-gaap Net Income Loss
NetIncomeLoss
-132613000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
758309000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
466193000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12272000
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
-94000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3474000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
414000
iova Stock Cancelled During Period Shares Of Common Stock
StockCancelledDuringPeriodSharesOfCommonStock
-336000
us-gaap Net Income Loss
NetIncomeLoss
-84501000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
397422000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
243313000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10537000
CY2020Q2 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
-165000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1237000
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-595000
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
567000000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-63018000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
758309000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
434932000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6426000
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1000
CY2019Q2 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
-23000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3405000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
234000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-47551000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
397422000
us-gaap Net Income Loss
NetIncomeLoss
-84501000
us-gaap Share Based Compensation
ShareBasedCompensation
19949000
us-gaap Share Based Compensation
ShareBasedCompensation
12272000
iova Non Cash Lease Expense
NonCashLeaseExpense
3328000
iova Non Cash Lease Expense
NonCashLeaseExpense
3031000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
512000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
560000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
336000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-17000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-2430000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1064000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
515000
iova Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-3739000
iova Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-2651000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7096000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
9951000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
18813000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1734000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-101927000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-62885000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
216678000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
263102000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
534717000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
201129000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5612000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2257000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
95000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5188000
CY2020Q2 us-gaap Security Deposit
SecurityDeposit
5500000
CY2020Q2 iova Security Deposit For Benefit Of Landlord For Commercial Manufacturing Facility
SecurityDepositForBenefitOfLandlordForCommercialManufacturingFacility
5450000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-323651000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
59716000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
283000
CY2020Q2 iova Security Deposit For Benefit Of Utilities Service Provider
SecurityDepositForBenefitOfUtilitiesServiceProvider
74685
CY2020Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1000000
CY2020Q2 iova Security Deposit For Benefit Of Utilities Service Provider
SecurityDepositForBenefitOfUtilitiesServiceProvider
74685
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
5500000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166139000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82362000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3474000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
567393000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
572298000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3379000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
146720000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
210000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19419000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82152000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166139000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82362000
iova Unrealized Gain Loss On Short Term Investments
UnrealizedGainLossOnShortTermInvestments
97000
iova Unrealized Gain Loss On Short Term Investments
UnrealizedGainLossOnShortTermInvestments
414000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5212000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
92000
iova Accrued Offering Costs Incurred During Noncash Or Partial Noncash Transaction
AccruedOfferingCostsIncurredDuringNoncashOrPartialNoncashTransaction
393000
us-gaap Net Income Loss
NetIncomeLoss
-132600000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-101900000
CY2020Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
567000000.0
CY2020Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
777400000
CY2020Q2 iova Ash Cash Equivalents And Short Term Investments And Restricted Cash Total
AshCashEquivalentsAndShortTermInvestmentsAndRestrictedCashTotal
160600000
CY2020Q2 us-gaap Short Term Investments
ShortTermInvestments
611300000
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
5500000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
160614000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76912000
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
5525000
CY2019Q2 us-gaap Restricted Cash
RestrictedCash
5450000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16272855
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15203345
CY2020Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
611265000
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
293112000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;"><span style="font-style:normal;font-weight:normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the assumptions made in valuing stock instruments issued for services and used in measuring operating right-of-use assets and operating lease liabilities, valuation of short-term investments, accounting for potential liabilities, and the valuation allowance associated with the Company’s deferred tax assets.</span></p>
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
10537000
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
6426000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
19949000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
12272000
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
10537000
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
6426000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
19949000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
12272000
CY2019Q4 iova Commercial Manufacturing Facility Related Current
CommercialManufacturingFacilityRelatedCurrent
17000
CY2020Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
151131000
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
10049000
CY2020Q2 us-gaap Short Term Investments
ShortTermInvestments
611265000
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
293112000
CY2020Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
611053000
CY2020Q2 iova Available For Sale Securities Accumulated Accretion
AvailableForSaleSecuritiesAccumulatedAccretion
105000
CY2020Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
326000
CY2020Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
9000
CY2020Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
611265000
CY2019Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
292421000
CY2019Q4 iova Available For Sale Securities Accumulated Accretion
AvailableForSaleSecuritiesAccumulatedAccretion
471000
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
223000
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3000
CY2019Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
293112000
CY2020Q2 iova Clinical Related Expenses Current
ClinicalRelatedExpensesCurrent
21243000
CY2019Q4 iova Clinical Related Expenses Current
ClinicalRelatedExpensesCurrent
4692000
CY2020Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7114000
CY2019Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
6866000
CY2020Q2 iova Manufacturing Related Expenses Current
ManufacturingRelatedExpensesCurrent
3479000
CY2019Q4 iova Manufacturing Related Expenses Current
ManufacturingRelatedExpensesCurrent
2184000
CY2020Q2 iova Commercial Manufacturing Facility Related Current
CommercialManufacturingFacilityRelatedCurrent
3408000
CY2020Q2 iova Legal And Related Services Current
LegalAndRelatedServicesCurrent
1465000
CY2019Q4 iova Legal And Related Services Current
LegalAndRelatedServicesCurrent
866000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2085000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1640000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
38794000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16265000
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000041666
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2018Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
9.97
CY2018Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
11.50
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
162000000.0
CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
50000
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
32500
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
32500
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
137500
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.98
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y21D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7078
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0259
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">NOTE 8. LEGAL PROCEEDINGS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">Class Action Lawsuit</span>. On April 10, 2017, the SEC announced settlements with the Company and with other public companies and unrelated parties in the <i style="font-style:italic;">In the Matter of Certain Stock Promotion</i> investigation. The Company’s settlement with the SEC is consistent with its previous disclosures (including in its Annual Report on Form 10-K that the Company filed with the SEC on March 9, 2017). On April 14, 2017, a purported shareholder filed a complaint seeking class action status in the United States District Court, Northern District of California for violations of the federal securities laws (<i style="font-style:italic;">Leonard DeSilvio v. Lion Biotechnologies, Inc., et al., </i>case no. 3:17cv2086) against the Company and three of its former officers and directors. On April 19, 2017, a second class action complaint <i style="font-style:italic;">(Amra Kuc vs. Lion Biotechnologies, Inc., et al., </i>case no. 3:17-cv-2188) was filed in the same court. Both complaints allege, among other things, that the defendants violated the federal securities laws by making materially false and misleading statements, or by failing to make certain disclosures, regarding the actions taken by Manish Singh, the Company’s former CEO, and the Company’s former investor relations firm that were the subject of the <i style="font-style:italic;">In the Matter of Certain Stock Promotions</i> investigation. On July 20, 2017, the plaintiff in the <i style="font-style:italic;">Kuc</i> case filed a notice to voluntarily dismiss that case. The court entered an order dismissing the <i style="font-style:italic;">Kuc</i> complaint on July 21, 2017. On July 26, 2017, the court appointed a movant as lead plaintiff. On September 8, 2017, the lead plaintiff filed an amended complaint (<i style="font-style:italic;">Jay Rabkin v. Lion Biotechnologies, Inc., et al., </i>case no. 3:17-cv-2086) seeking class action status that alleges, among other things, that the defendants violated federal securities laws by making materially false and misleading statements, or by failing to make certain disclosures, regarding the actions taken by Manish Singh and the Company’s former investor relations firm that were the subject of the <i style="font-style:italic;">In the Matter of Certain Stock Promotions</i> SEC investigation. On February 5, 2018, the court entered an order dismissing two of plaintiff’s six claims. As a result of mediation, on September 28, 2018, lead plaintiff filed an unopposed motion for settlement. The court granted preliminary approval to the proposed settlement on November 30, 2018 . A final hearing was held on April 12, 2019 to determine whether the proposed settlement was fair, reasonable, and adequate, and whether the claims should be dismissed. On April 17, 2019, the court approved the final settlement, involving a payment of $3,250,000 by the Company’s insurance carrier to a settlement fund, awarded attorney’s fees and costs to be paid to plaintiff’s counsel from the settlement fund, approved the plan of allocation for settlement class members, and ordered that the claims against the Company should be dismissed with prejudice. The Company does not expect to incur any significant costs or expenses in connection with this settlement. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">Derivative Lawsuits.</span> On December 15, 2017, a purported stockholder derivative complaint was filed by plaintiff Kevin Fong against the Company, as nominal defendant, and certain of its current and former officers and directors, and others, as defendants, in the U.S. District Court for the District of Delaware (case no. 1:17-cv-1806). The complaint alleges breaches of fiduciary duties, unjust enrichment, and violations of Section 14(a) of the Securities Exchange Act of 1934 and Rule 14a-9 promulgated thereunder arising from the SEC’s investigation in the <i style="font-style:italic;">In the Matter of Certain Stock Promotions</i> investigation and its April 10, 2017 settlement thereof, and seeks unspecified damages on behalf of the Company and injunctive relief. On March 28, 2018, a purported stockholder </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">derivative complaint was filed by plaintiff Nazeer Khaleeluddin on behalf of the Company, against the Company, as nominal defendant, and certain of the Company’s current and former officers and directors, and others, as defendants, in the U.S. District Court for the District of Delaware (case no. 1:18-cv-00469). The complaint alleges, among other things, violations of securities law, breach of fiduciary duty, aiding and abetting, waste of corporate assets, and unjust enrichment. The complaint is based on claims arising from the SEC’s investigation in the <i style="font-style:italic;">In the Matter of Certain Stock Promotions</i> investigation and the Company’s April 10, 2017 settlement thereof, and seeks unspecified damages on behalf of the Company and injunctive relief. On May 1, 2018, the court consolidated this case with the aforementioned purported stockholder derivative case filed by plaintiff Kevin Fong. The consolidated case is titled <i style="font-style:italic;">In re Iovance Biotherapeutics, Inc. Stockholder Derivative Litigation</i> (lead case no. 17-cv-1806). On January 28, 2020, the parties reached a proposed settlement. On April 24, 2020, the court granted preliminary approval for the proposed settlement. The terms of the settlement were disseminated to shareholders as part of the notice process on May 8, 2020. On July 2, 2020, the court granted final approval for the settlement. The Company does not expect to incur any significant costs or expenses in connection with this settlement. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">Solomon Capital, LLC.</span> On April 8, 2016, a lawsuit (“the First Solomon Suit”) titled <i style="font-style:italic;">Solomon Capital, LLC, Solomon Capital 401(K) Trust, Solomon Sharbat and Shelhav Raff v. Lion Biotechnologies, Inc.</i><span style="white-space:pre-wrap;"> was filed by Solomon Capital, LLC, Solomon Capital 401(k) Trust, Solomon Sharbat and Shelhav Raff (“Solomon Plaintiffs”) against the Company in the Supreme Court of the State of New York, County of New York (index no. 651881/2016 ). The Solomon Plaintiffs allege that, between June and November 2012, they provided to the Company $0.1 million and that they advanced and paid on behalf of the Company an additional $0.2 million. The complaint further alleges that the Company agreed to (i) provide them with promissory notes totaling $0.2 million, plus interest, (ii) issue a total of 1,110 shares to the Solomon Plaintiffs (after the 1-for-100 reverse split of the Company’s common stock effected in March 2013) (the “Equity Claim”), and (iii) allow the Solomon Plaintiffs to convert the foregoing funds into its securities in the next transaction. The Solomon Plaintiffs allege that they should have been able to convert their advances and payments into shares of the Company’s common stock in the restructuring that took effect in May 2013. Based on the foregoing, the Solomon Plaintiffs allege causes for breach of contract and unjust enrichment and demand judgment against the Company in an unspecified amount exceeding $1.5 million, plus interest. On June 3, 2016, the Company filed an answer and counterclaims in the lawsuit. The Company has asserted counterclaims for fraudulent inducement, fraudulent misrepresentation, fraudulent concealment, breach of fiduciary duty, and breach of contract, alleging principally that the counterclaim defendants misrepresented their qualifications and failed to disclose that Solomon Sharbat was the subject of an investigation by the Financial Industry Regulatory Authority (“FINRA”) that resulted in the loss of his FINRA license. In its counterclaims, the Company is seeking damages in an amount exceeding $0.5 million and an order rescinding any and all agreements that the plaintiffs contend entitled them to obtain shares of Company stock. On May 12, 2020, the court granted the Company’s motion for summary judgment limiting the Solomon Plaintiffs’ damages for the Equity Claim to $47,420. The Solomon Plaintiffs filed a notice of appeal of this summary judgment on June 9, 2020. On July 2, 2020, the court granted the Company’s motion to dismiss the First Solomon Suit for want of prosecution. On July 31, 2020, the Solomon Plaintiffs filed a motion seeking leave to reargue the court’s decision to dismiss the First Solomon Suit for want of prosecution.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">On September 27, 2019, the Solomon Plaintiffs filed a new lawsuit (through new legal counsel) (“the Second Solomon Suit”) titled <i style="font-style:italic;">Solomon Capital, LLC, Solomon Capital 401(K) Trust, Solomon Sharbat and Shelhav Raff v. Iovance Biotherapeutics, Inc., f/k/a/ Lion Biotechnologies Inc. f/k/a/ Genesis Biopharma Inc., and Manish Singh</i> in the Supreme Court of the State of New York, County of New York (index no. 655668/2019). In the Second Solomon Suit, the Solomon Plaintiffs allege that they are third party beneficiaries of a “finder’s fee agreement” that prior management entered into with a third party unlicensed entity in 2012 in connection with seeking financing, that an agreement or understanding existed between the Company and the plaintiffs that the plaintiffs would be paid fees and commissions (in cash and stock) if they obtained financing for the Company, and that they directly and indirectly introduced investors to the Company who invested in the Company, or were willing to invest in the Company. Finally, the Solomon Plaintiffs allege that they were promised a license to use the Company’s technology in Israel. The plaintiffs claim that the Company breached the foregoing understandings, promises and agreements and, as a result, they are entitled to certain damages. The Solomon Plaintiffs also allege that Manish Singh, the Company’s former Chief Executive Officer, committed fraud and took shares belonging to them. On February 18, 2020, the Company filed a removal petition and removed the Second Solomon Suit to the United States District Court for the Southern District of New York, where the case has been assigned case no. 1:20-cv-1391. The Company has not yet responded to the complaint in the Second Solomon Suit. On May 22, 2020, the Company moved to dismiss the Second Solomon Suit for lack of personal jurisdiction.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">The Company intends to vigorously defend these complaints and pursue its counterclaims, as applicable. At the current stage of the litigation, in both the First Solomon Suit and the Second Solomon Suit, it is not possible to estimate the amount or range of possible loss that might result from an adverse judgment or a settlement of these matters.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">Litigation Involving Dr. Steven Fischkoff</span>. On June 13, 2017, in an action titled <i style="font-style:italic;">Steven Fischkoff v. Lion Biotechnologies, Inc. and Maria Fardis</i>, Dr. Steven Fischkoff, the Company’s former Vice President and Chief Medical Officer, filed a lawsuit against the Company in the Supreme Court of the State of New York, County of New York. Dr. Fischkoff was dismissed by the Company on March 28, 2017. Dr. Fischkoff was terminated “for cause” as that term is defined in his employment agreement. In his complaint, Dr. Fischkoff alleges breaches of his employment agreement and violation of New York Labor Law for failure to pay monies purportedly owed to him, and seeks to recover amounts including severance pay and retention bonus (totaling $300,000), a prorated incentive bonus, and amounts relating to unvested options to 150,000 shares of the Company’s common stock, together with prejudgment interest, costs, expenses and attorneys’ fees. On July 5, 2017, the Company filed a removal petition and removed the lawsuit to the United States District Court for the Southern District of New York, where the case has been assigned case no. 1:17-cv-05041. On July 14, 2017, the Company filed a partial answer and counterclaims against Dr. Fischkoff, denying his allegations, and alleging breach of contract and related claims, breach of fiduciary duty, and state and federal trade secret misappropriation and related claims, and sought a temporary restraining order and preliminary injunction against Dr. Fischkoff. On July 18, 2017, the court issued a temporary restraining order against Dr. Fischkoff requiring him to return the Company’s materials, prohibiting him from disclosing or using the Company’s materials, and granting expedited discovery. On June 25, 2018, pursuant to a stipulation between the parties, the court entered a permanent injunction prohibiting Dr. Fischkoff from disclosing, possessing, or using any of the Company’s proprietary materials or trade secrets. On July 5, 2018, the court entered an order dismissing two of Dr. Fischkoff’s claims against the Company and Dr. Fardis. On October 18, 2018, Dr. Fischkoff amended his complaint to assert a new claim for defamation arising from SEC filings in which the Company provided the information about this litigation. On August 4, 2020, the parties agreed in principle to a confidential settlement subject to final negotiation and, accordingly, the court dismissed the litigation without prejudice during such negotiation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">The Company intends to vigorously defend against Dr. Fischkoff’s lawsuit and pursue the Company’s counterclaims if a settlement is not reached after negotiation. Based on the current stage of the litigation, it is not possible to estimate the amount or range of (i) a possible loss that might result from an adverse judgment or settlement of this action, or (ii) the potential recovery that might result from a favorable judgment or a settlement of this action.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">Other Matters.</span> In connection with the Company’s reincorporation from Nevada to Delaware in 2017, the Company (as a Delaware corporation) untimely filed a post-effective amendment to adopt a Form S-8 registration statement that the Company filed (as a Nevada corporation) to register the shares underlying the Company’s 2011 Equity Incentive Plan. Before the Company filed the required post-effective amendment, options to purchase 200,000 shares were exercised under the 2011 Equity Incentive Plan. The effect of the delayed post-effective amendment filing on the 200,000 option shares is uncertain, but the issuance and sale of the shares may not have been in compliance with the Form S-8 registration statement. The existence of any liability to the Company, and the amount of any such liability to the Company, as a result of the issuance of the 200,000 shares is uncertain. Accordingly, no accrual for a potential claim has been made by the Company in its condensed consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">The Company may be involved, from time to time, in legal proceedings and claims arising in the ordinary course of its business. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues amounts, to the extent they can be reasonably estimated, that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that it believes will result in a probable loss. While there can be no assurances as to the ultimate outcome of any legal proceeding or other loss contingency involving the Company, management does not believe any pending matter will be resolved in a manner that would have a material adverse effect on its financial position, results of operations or cash flows.</p>
CY2016Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
500000
CY2020Q2 iova Equity Claim
EquityClaim
47420
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1045000
us-gaap Variable Lease Cost
VariableLeaseCost
2631000
us-gaap Variable Lease Cost
VariableLeaseCost
1941000
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14000
CY2018Q4 iova Lease Expiration Term
LeaseExpirationTerm
P30M
CY2018Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
59000
CY2018Q4 us-gaap Operating Leases Of Lessee Contingent Rentals Basis Spread On Variable Rate
OperatingLeasesOfLesseeContingentRentalsBasisSpreadOnVariableRate
0.03
CY2019Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
option to extend
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7480000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10695000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5873000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7252000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2001000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4248000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7874000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11500000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2073000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1681000
us-gaap Operating Lease Cost
OperatingLeaseCost
3709000
us-gaap Operating Lease Cost
OperatingLeaseCost
3275000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1260000
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
18000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
31000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
37000
CY2020Q2 us-gaap Lease Cost
LeaseCost
3347000
CY2019Q2 us-gaap Lease Cost
LeaseCost
2744000
us-gaap Lease Cost
LeaseCost
6371000
us-gaap Lease Cost
LeaseCost
5253000
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1906000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1977000
us-gaap Operating Lease Payments
OperatingLeasePayments
4102000
us-gaap Operating Lease Payments
OperatingLeasePayments
3398000
iova Increase Decrease In Right Of Use Assets From Adoption Of New Standard
IncreaseDecreaseInRightOfUseAssetsFromAdoptionOfNewStandard
10380000
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
667000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
667000
CY2020Q2 iova Increase Decrease In Right Of Use Assets From Lease Modifications
IncreaseDecreaseInRightOfUseAssetsFromLeaseModifications
-151000
CY2019Q2 iova Increase Decrease In Right Of Use Assets From Lease Modifications
IncreaseDecreaseInRightOfUseAssetsFromLeaseModifications
2642000
iova Increase Decrease In Right Of Use Assets From Lease Modifications
IncreaseDecreaseInRightOfUseAssetsFromLeaseModifications
328000
iova Increase Decrease In Right Of Use Assets From Lease Modifications
IncreaseDecreaseInRightOfUseAssetsFromLeaseModifications
3642000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M8D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075
CY2020Q2 us-gaap Lessee Finance Lease Lease Not Yet Commenced Term Of Contract1
LesseeFinanceLeaseLeaseNotYetCommencedTermOfContract1
P20Y
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M15D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.082
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
3195000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4140000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
338000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
265000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
273000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
115000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
8326000
CY2020Q2 iova Operating Lease Present Value Adjustments
OperatingLeasePresentValueAdjustments
-452000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7874000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M8D
CY2017Q3 iova Period Of Consulting Agreement
PeriodOfConsultingAgreement
P3Y
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
The granted stock options vest in 12 quarterly installments (with 1/12th of the option shares having vested on the date of grant).
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
300000

Files In Submission

Name View Source Status
0001104659-20-091526-index-headers.html Edgar Link pending
0001104659-20-091526-index.html Edgar Link pending
0001104659-20-091526.txt Edgar Link pending
0001104659-20-091526-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
iova-20200630.xsd Edgar Link pending
iova-20200630x10q.htm Edgar Link pending
iova-20200630x10q002.jpg Edgar Link pending
iova-20200630x10q_htm.xml Edgar Link completed
iova-20200630xex10d3.htm Edgar Link pending
iova-20200630xex10d4.htm Edgar Link pending
iova-20200630xex31d1.htm Edgar Link pending
iova-20200630xex31d2.htm Edgar Link pending
iova-20200630xex32d1.htm Edgar Link pending
iova-20200630xex32d2.htm Edgar Link pending
iova-20200630_cal.xml Edgar Link unprocessable
iova-20200630_def.xml Edgar Link unprocessable
iova-20200630_lab.xml Edgar Link unprocessable
iova-20200630_pre.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending