$IOVA
IOVANCE BIOTHERAPEUTICS, INC.

2023 Q1 Form 10-K Financial Statement

#000155837023002419 Filed on February 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $28.12M $26.46M $104.1M
YoY Change 20.11% 10.96% 24.42%
% of Gross Profit
Research & Development $82.73M $80.57M $294.8M
YoY Change 21.13% 6.56% 13.8%
% of Gross Profit
Depreciation & Amortization $2.764M $2.814M $9.310M
YoY Change 53.81% 109.22% 199.26%
% of Gross Profit
Operating Expenses $110.9M $107.0M $398.9M
YoY Change 20.87% 7.61% 16.39%
Operating Profit -$110.9M -$398.9M
YoY Change 20.87% 16.39%
Interest Expense $3.486M $1.717M $2.985M
YoY Change 3188.68% 1171.85% 561.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$107.4M -$105.3M -$395.9M
YoY Change 17.21% 6.03% 15.67%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$107.4M -$105.3M -$395.9M
YoY Change 17.25% 6.03% 15.66%
Net Earnings / Revenue
Basic Earnings Per Share -$0.50 -$2.49
Diluted Earnings Per Share -$0.50 -$0.64 -$2.49
COMMON SHARES
Basic Shares Outstanding 224.2M 157.8M 159.3K
Diluted Shares Outstanding 213.7M 159.3K

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $626.3M $471.8M $471.8M
YoY Change 29.89% -6.46% -6.46%
Cash & Equivalents $543.5M $231.7M $231.7M
Short-Term Investments $82.81M $240.1M $240.1M
Other Short-Term Assets $11.49M $7.271M $7.271M
YoY Change 47.69% 105.05% 105.05%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $637.8M $479.1M $479.1M
YoY Change 30.17% -5.68% -5.68%
LONG-TERM ASSETS
Property, Plant & Equipment $109.9M $105.2M $178.2M
YoY Change 6.97% 4.25% 4.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $202.0K $189.0K $6.619M
YoY Change -84.04% -89.41% -15.87%
Total Long-Term Assets $187.0M $184.9M $184.9M
YoY Change -11.5% -31.37% -31.37%
TOTAL ASSETS
Total Short-Term Assets $637.8M $479.1M $479.1M
Total Long-Term Assets $187.0M $184.9M $184.9M
Total Assets $824.8M $664.0M $664.0M
YoY Change 17.61% -14.58% -14.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.57M $26.60M $26.60M
YoY Change 54.36% -2.83% -2.83%
Accrued Expenses $43.09M $52.30M $64.88M
YoY Change -11.91% -7.88% 4.95%
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 $87.27M $91.49M $91.49M
YoY Change 13.23% 2.56% 2.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $69.61M $71.86M $71.86M
YoY Change -2.21% 9.75% 9.75%
Total Long-Term Liabilities $70.61M $72.86M $72.86M
YoY Change -2.18% 9.61% 9.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.27M $91.49M $91.49M
Total Long-Term Liabilities $70.61M $72.86M $72.86M
Total Liabilities $157.9M $164.3M $164.3M
YoY Change 5.78% 5.57% 5.57%
SHAREHOLDERS EQUITY
Retained Earnings -$1.676B -$1.568B
YoY Change 32.57% 33.77%
Common Stock $9.000K $8.000K
YoY Change 28.57% 14.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $666.9M $499.6M $499.6M
YoY Change
Total Liabilities & Shareholders Equity $824.8M $664.0M $664.0M
YoY Change 17.61% -14.58% -14.58%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$107.4M -$105.3M -$395.9M
YoY Change 17.25% 6.03% 15.66%
Depreciation, Depletion And Amortization $2.764M $2.814M $9.310M
YoY Change 53.81% 109.22% 199.26%
Cash From Operating Activities -$99.80M -$77.67M -$292.8M
YoY Change 35.23% 44.24% 28.48%
INVESTING ACTIVITIES
Capital Expenditures $5.664M $3.022M $20.43M
YoY Change -50.49% -139.93% -45.64%
Acquisitions
YoY Change
Other Investing Activities $159.1M $3.483M $276.9M
YoY Change 62.38% -95.47% 634.31%
Cash From Investing Activities $153.4M $461.0K $256.5M
YoY Change 77.3% -99.34% 194184.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $189.5M
YoY Change -6.72%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 258.2M 190.6M 190.2M
YoY Change 18119.62% 4492.17% -20.53%
NET CHANGE
Cash From Operating Activities -99.80M -77.67M -292.8M
Cash From Investing Activities 153.4M 461.0K 256.5M
Cash From Financing Activities 258.2M 190.6M 190.2M
Net Change In Cash 311.8M 113.4M 153.8M
YoY Change 2105.96% 477.24% 1237.43%
FREE CASH FLOW
Cash From Operating Activities -$99.80M -$77.67M -$292.8M
Capital Expenditures $5.664M $3.022M $20.43M
Free Cash Flow -$105.5M -$80.69M -$313.2M
YoY Change 23.73% 74.35% 17.99%

Facts In Submission

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IOVANCE BIOTHERAPEUTICS, INC.
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CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
522696000
CY2021 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
762914000
CY2020 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
676601000
CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
245816000
CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
725208000
CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
947663000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20425000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37574000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
46791000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
256455000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
132000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-317853000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2649000
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
284000
CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1655000
CY2021 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1586000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1642000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
33526000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9663000
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
189502000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
203156000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
567043000
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1000000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
190150000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
239268000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
576422000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
153848000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
11459000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
53435000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84313000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72854000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19419000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
238161000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84313000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72854000
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-301000
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-620000
CY2020 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-201000
CY2022 iova Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
5985000
CY2021 iova Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
12410000
CY2020 iova Acquisitions Of Property And Equipment Included In Accounts Payable And Accrued Expense
AcquisitionsOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpense
5094000
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
1000
CY2022 iova Rightofuseassetobtainedinexchangeforoperatingleaseliabilityfromnewleases
Rightofuseassetobtainedinexchangeforoperatingleaseliabilityfromnewleases
553000
CY2021 iova Rightofuseassetobtainedinexchangeforoperatingleaseliabilityfromnewleases
Rightofuseassetobtainedinexchangeforoperatingleaseliabilityfromnewleases
17275000
CY2020 iova Rightofuseassetobtainedinexchangeforoperatingleaseliabilityfromnewleases
Rightofuseassetobtainedinexchangeforoperatingleaseliabilityfromnewleases
45968000
CY2022 iova Right Of Use Asset Obtained In Exchange For Operating Lease Liability From Lease Modifications
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityFromLeaseModifications
15304000
CY2021 iova Right Of Use Asset Obtained In Exchange For Operating Lease Liability From Lease Modifications
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityFromLeaseModifications
7800000
CY2020 iova Right Of Use Asset Obtained In Exchange For Operating Lease Liability From Lease Modifications
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityFromLeaseModifications
826000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-395900000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-292800000
CY2022Q4 iova Cash Cash Equivalents And Short Term Investments And Restricted Cash Total
CashCashEquivalentsAndShortTermInvestmentsAndRestrictedCashTotal
478300000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
231700000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
240100000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
6400000
CY2022Q4 iova Minimum Restricted Security Deposit
MinimumRestrictedSecurityDeposit
5450000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
6400000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
6100000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
231731000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78229000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67329000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
6430000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
6084000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
5525000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
238161000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84313000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72854000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20876978
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16655260
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16331016
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></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 </span><span style="font-style:normal;font-weight:normal;">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 expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include assumptions made in the fair value of equity awards and related stock-based compensation, assumptions used in measuring operating right-of-use assets and operating lease liabilities, accounting for potential liabilities, including estimates inherent in accruals related to clinical trials, and the realizability of the Company’s deferred tax assets</span><span style="font-style:normal;font-weight:normal;">.</span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Concentrations</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">The Company is subject to credit risk from its portfolio of cash, cash equivalents and investments. Under its investment policy, the Company limits amounts invested in such securities by credit rating, maturity, industry group, investment type and issuer, except for securities issued by the U.S. government. The Company does not believe it is exposed to any significant concentrations of credit risk from these financial instruments. The Company maintains cash, cash equivalents and investment balances at four financial institutions. Management believes that the financial institutions which hold its cash are financially sound and, accordingly, minimal credit risk exists. As of December 31, 2022 and 2021, respectively, the Company’s cash balances were in excess of insured limits maintained at the financial institutions.</p>
CY2022 iova Number Of Financial Institutions
NumberOfFinancialInstitutions
4
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
373372000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
8000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
910000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
372470000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
579620000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
10000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
612000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
579018000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
100938000
CY2022 us-gaap Depreciation
Depreciation
9300000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
132356000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
61249000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
240114000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
426181000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
91588000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
372470000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
579018000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
0
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
373372000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
372470000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
373372000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
372470000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
121950000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
109627000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16718000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8689000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
105232000
CY2021 us-gaap Depreciation
Depreciation
3100000
CY2020 us-gaap Depreciation
Depreciation
1100000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
19407000
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
21513000
CY2022Q4 iova Clinical Related Expenses Current
ClinicalRelatedExpensesCurrent
14812000
CY2021Q4 iova Clinical Related Expenses Current
ClinicalRelatedExpensesCurrent
18167000
CY2022Q4 iova Manufacturing Related Expenses Current
ManufacturingRelatedExpensesCurrent
4652000
CY2021Q4 iova Manufacturing Related Expenses Current
ManufacturingRelatedExpensesCurrent
6566000
CY2022Q4 iova Commercial Manufacturing Facility Related Current
CommercialManufacturingFacilityRelatedCurrent
6510000
CY2021Q4 iova Commercial Manufacturing Facility Related Current
CommercialManufacturingFacilityRelatedCurrent
4857000
CY2022Q4 iova Legal And Related Services Current
LegalAndRelatedServicesCurrent
3015000
CY2021Q4 iova Legal And Related Services Current
LegalAndRelatedServicesCurrent
1907000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3899000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3756000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
52295000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
56766000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000041666
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
187812072
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y3M7D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
245000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.29
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
22.28
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
17.32
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
40000.00
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
21300000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
21400000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
84022000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
69765000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
40887000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
84022000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
69765000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
40887000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3000000.0
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
225904000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
203298000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
24920000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
18319000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
46957000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
40851000
CY2022Q4 iova Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
18017000
CY2021Q4 iova Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
14970000
CY2022Q4 iova Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
47755000
CY2021Q4 iova Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
0
CY2022Q4 iova Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
0
CY2021Q4 iova Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
228000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
3997000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
4445000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
367550000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
282111000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
350418000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
267469000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
17132000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
14642000
CY2022Q4 iova Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
17132000
CY2021Q4 iova Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
14642000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.01
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.02
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.03
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.01
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements State And Local
EffectiveIncomeTaxRateReconciliationTaxSettlementsStateAndLocal
0.01
CY2022 iova Effective Income Tax Rate Reconciliation Expected Rate Total1
EffectiveIncomeTaxRateReconciliationExpectedRateTotal1
0.21
CY2021 iova Effective Income Tax Rate Reconciliation Expected Rate Total1
EffectiveIncomeTaxRateReconciliationExpectedRateTotal1
0.23
CY2020 iova Effective Income Tax Rate Reconciliation Expected Rate Total1
EffectiveIncomeTaxRateReconciliationExpectedRateTotal1
0.23
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.23
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.23
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
119000
CY2022Q4 iova Operating Loss Carry Forwards Having Definite Expire Life Value
OperatingLossCarryForwardsHavingDefiniteExpireLifeValue
142400000
CY2022Q4 iova Operating Loss Carry Forwards Having Indefinite Expire Life Value
OperatingLossCarryForwardsHavingIndefiniteExpireLifeValue
898900000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
82900000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
78100000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
60700000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
18171000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
14432000
CY2019Q4 us-gaap Unrecognized Tax Benefits
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<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-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">NOTE 11. LEGAL PROCEEDINGS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Derivative Lawsuit.</span> On December 11, 2020, a purported stockholder derivative complaint was filed by plaintiff Leo Shumacher against the Company, as nominal defendant, and then current directors, as defendants, in the Court of Chancery in the State of Delaware (the “Court”). The complaint alleges breach of fiduciary duty and a claim for unjust enrichment in connection with alleged excessive compensation of certain non-executive directors of the Company and seeks unspecified damages on behalf of the Company. The parties have agreed to a proposed settlement, which was submitted to the Court on June 15, 2022. After a hearing on November 17, 2022, the Court required the parties to take additional steps before it would approve the settlement. The Company, as nominal defendant, and its current directors, as defendants, answered the complaint on Feb. 3, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">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> was filed by Solomon Capital, LLC, Solomon Capital </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">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 the Company $0.1 million and that they advanced and paid on behalf of the Company an additional $0.2 million. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">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 <span style="-sec-ix-hidden:Hidden_Xh6j5OrzlEuxEcqdRHx1AQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">1-for-100</span></span> 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 financing of the Company on the same terms offered to other investors, which Solomon Plaintiffs allege, should have given them the right 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 lawsuits. 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. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;">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 Solomon 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 January 4, 2021, the court granted the Solomon Plaintiffs motion for reconsideration, and reinstituted the case. On January 15, 2021, the Company filed a notice of appeal of the court’s grant of the Solomon Plaintiffs motion for reconsideration. On May 11, 2021, the Appellate Division upheld the court’s grant of the Solomon Plaintiffs’ motion for reconsideration of the dismissal of the First Solomon Suit for want of prosecution.</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 U.S. District Court for the Southern District of New York, where the case has been assigned case no. 1:20-cv-1391. On May 22, 2020, the Company moved to dismiss the Second Solomon Suit for lack of personal jurisdiction. On March 26, 2021, the Court denied the Company’s motion to dismiss for lack of personal jurisdiction. The Company filed a response to the complaint in the Second Solomon Suit on April 30, 2021. On May 26, 2021, the Company and Singh filed motions for judgment on the pleadings with respect to the second and third claims asserted against the Company and all claims asserted against Singh, respectively, in the Second Solomon Suit. On January 5, 2022, the Court granted the Company’s motions for judgement on the pleadings, dismissing the second and third claims against the Company and dismissing all claims against Singh. On January 4, 2023, the Court granted in part the Company’s motion for sanctions against Plaintiffs for violating Rule 11 of the Federal Rules of Civil Procedure, in a decision and order that dismissed Plaintiffs’ first claim against the Company, denied Plaintiffs’ motion for leave to amend the complaint, and ordered Plaintiffs to pay the Company’s attorneys’ fees incurred in connection with the Rule 11 motion. Following the Court’s decision and order on the Rule 11 motion, only Plaintiffs’ fifth and sixth claims, for unjust enrichment and indemnification, respectively, remain pending against the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27.35pt;margin:0pt 0pt 10pt 0pt;"><span style="white-space:pre-wrap;">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. </span></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>
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