Iovance Biotherapeutics, Inc. (IOVA) witnessed a massive 16.54% plunge in its stock price during Thursday's trading session, following the release of its fourth-quarter and full-year 2024 financial results and corporate updates.

The significant decline can be attributed to several factors outlined in the company's earnings report. Firstly, despite posting revenue of $73.7 million for the fourth quarter, primarily driven by sales of its newly launched cancer drug Amtagvi and the established treatment Proleukin, Iovance reported a net loss of $78.6 million or $0.26 per share. This loss was wider than analysts' expectations and raised concerns about the company's profitability.

Secondly, Iovance's guidance for 2025 failed to meet investors' expectations. While the company reaffirmed its total product revenue guidance within the range of $450 to $475 million for 2025, it also announced that cash burn for the full year is expected to be under $300 million, including the completion of its manufacturing expansion. This cash burn outlook, combined with higher-than-expected expenses in the fourth quarter, likely fueled worries about the company's cash position and future funding requirements.

Moreover, although Iovance highlighted positive developments such as the accelerating adoption of Amtagvi and progress in its clinical trials, investors appear to have been disappointed by the lack of more substantial catalysts or updates that could drive significant near-term growth.