SAN CARLOS, Calif. (AP) — SAN CARLOS, Calif. (AP) — Iovance Biotherapeutics Inc. (IOVA) on Thursday reported a loss of $116.2 million in its first quarter.
On a per-share basis, the San Carlos, California-based company said it had a loss of 36 cents.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The biotechnology company posted revenue of $49.3 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $80.5 million.
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