
Iovance Biotherapeutics ($IOVA) reported a fourth quarter and full year 2024 financial results, revealing a decrease in sales growth. The company's therapy, Amtagvi, showed a quarter-over-quarter growth of only 16%, with revenues of $48.7 million in Q4, up from $42.1 million in Q3. The market responded negatively, leading to a pre-market decline of 23% in the stock price, which fell to $4.50. The therapy's complexity and toxicity, particularly for late-stage melanoma patients, have raised concerns about its viability. Meanwhile, Butterfly Network ($BFLY) announced its fourth quarter 2024 results, reporting a revenue of $22.4 million, a 35% year-over-year increase, despite a net loss of $18.1 million. However, the stock saw a pre-market drop of 11.5% following the announcement.
$IOVA (-23.0% pre) Iovance Biotherapeutics Reports Financial Results and Corporate Updates for Fourth Quarter and Full Year 2024 https://t.co/2ET4y8b1gL
$BFLY (-11.5% pre) Butterfly Network Reports Fourth Quarter 2024 Financial Results https://t.co/QCVfTFysKZ
Butterfly Network, $BFLY, Q4-24. Results: ๐ Adj. EPS: $(0.05) ๐ข ๐ฐ Revenue: $22.4M ๐ข ๐ Net Loss: $(18.1M) ๐ Highlight: Revenue grew 35% YoY, reaching a quarterly record of $22.4M.
