Why Is IOVA Stock Falling Today?

• First-quarter loss came in at $0.19 per share, compared to an estimated loss of $0.15 per share.
• The company forecast its total product revenue for the second quarter between $86 million and $88 million
• In the United Kingdom, Iovance withdrew its initial marketing authorization application for Amtagvi earlier this month, citing procedural issues.

Shares of Iovance (IOVA) plunged 15% on Thursday after the biotech firm’s first-quarter report fell short of Wall Street estimates and amid deepening investor concerns over mounting delays in securing U.K. and European approvals for its cancer therapy.

Iovance’s flagship Amtagvi cell therapy is already approved in the U.S. for patients with melanoma that has spread or cannot be removed with surgery after prior treatment. The drug received accelerated approval in February 2024.

IOVA’s European Delays

In the United Kingdom, Iovance withdrew its initial marketing authorization application (MAA) for Lifileucel, sold as Amtagvi, earlier this month, citing procedural issues. The company said it is in talks with the Medicines and Healthcare Products Regulatory Agency (MHRA) to resubmit the application with updated information for an expedited review.

Iovance also plans to resubmit a marketing authorization application to the European Medicines Agency (EMA) in 2026.

IOVA Reports Q1 Loss Wider Than Expected

In Q1, Iovance posted a 45% increase in revenue to $71.4 million, which fell below Wall Street’s estimates of $75.6 million, according to Fiscal.ai data. Loss came in at $0.19 per share, compared to an estimated loss of $0.15 per share. 

The company forecast its total product revenue for the second quarter (Q2) between $86 million and $88 million and for FY26 between $350 million and $370 million.

What Retail Traders Think About IOVA

Retail sentiment for IOVA on Stocktwits turned ‘extremely bullish’ from ‘bullish’ a day earlier, amid ‘high’ message volumes.

One user said the company overpromised but underdelivered.

Another user said Iovance’s Amtagvi is a great product, but needs proper management.

The stock has gained 23% so far in 2026.

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