Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 04:30 pm ET

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Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to the Iovance Second Quarter 2020 Financial Results Conference Call. [Operator Instructions]

Now, I would like to turn the call over to Sara Pellegrino, Vice President Investor and Public Relations at Iovance. Please go ahead.

Executive
Sara Pellegrino

Thank you, operator. Good afternoon and thank you for joining us. Speaking on today's call, we have Maria Fardis, our President and Chief Executive Officer; Friedrich Finckenstein, our Chief Medical Officer; and Michael Swartzburg, Vice President of Finance and Principal Accounting Officer.

This afternoon, we issued a press release that can be found on our website at iovance.com, which includes the financial results for the second quarter and first half ended on June 30th, 2020 as well as corporate update.

Before we start, I would like to remind everyone that statements made during this conference call will include forward-looking statements regarding Iovance's goals, business focus, business plans, pre-commercial activities, clinical trial, plans and results, potential future applications of our technologies, manufacturing capabilities, regulatory feedback and guidance, collaboration, cash position and expense guidance and future updates.

Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond our control, including the risks and uncertainties described from time-to-time in our SEC filings. Our results may differ materially from those projected during today's call. We undertake no obligation to publicly update any forward-looking statements.

With that, I'll turn the call over to Maria.

Executive
Maria Fardis

Thank you, Sara. And good afternoon, everyone. I am very pleased to lead today's conference call to summarize our achievements at Iovance during the second quarter and first half of 2020. We are moving closer toward commercializing Iovance TIL as we continue to execute our key priorities, including clinical manufacturing and pre-commercial activities. We are driven because of our patience and by the dedication of our internal team members and external partners.

In the second quarter of 2020, we continue to advance our tumor-infiltrating lymphocyte therapy, or TIL, in our lead pivotal program in melanoma and cervical cancers. We reported updated Cohort 2 data and early Cohort 4 data in melanoma and recently completed enrollment in our pivotal cervical program. We remain on track to submit our first planned biologics license application, or BLA, later this year, while preparing for potential commercial launch in 2021.

Overall, we believe that the growing set of clinical data for TIL in advanced melanoma and cervical cancers and more recently in lung cancer further support TIL as a broad technology platform of cell therapies across solid tumors. With the successful completion of our June 2020 follow on public offering, we are very well capitalized with approximately $777 million in cash to execute our initial commercial launch and expand our growing pipeline.

We also continue to make great strides with our research efforts. We will be disclosing some of our research on bioinformatics data as part of three abstracts accepted as e-posters in the upcoming European Society for Medical Oncology or ESMO Virtual Scientific Weekend to be held September 19th to 21st, 2020. They