- Iovance Biotherapeutics ( NASDAQ: IOVA ) is down 6% in after-hours trading after its Q2 2022 financial results missed on the bottom line .
- Its net loss in the quarter widened ~22% to $99.3M (-$0.63 per share vs. -$0.53 year-ago period).
- The company recorded no revenue for the quarter.
- Iovance's total expenses in the quarter widened ~22% to $99.7M compared to the prior-year period.
- The company had $430.9M in cash and cash equivalents at the end of Q2 compared to $602.1M at Dec. 31, 2021. The cash position should fund operations into 2024.
- Seeking Alpha's Quant Rating views Iovance as a hold with a high grade for revisions .
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Iovance Biotherapeutics falls 6% on Q2 2022 bottom line miss