SAN CARLOS, Calif. (AP) _ Iovance Biotherapeutics Inc. (IOVA) on Thursday reported a loss of $47.6 million in its second quarter.
The San Carlos, California-based company said it had a loss of 38 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
Iovance Biotherapeutics shares have nearly tripled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.17, an increase of 84% in the last 12 months.