Biotech Sector Watch: Iovance Shares Slide as Phathom Issues Upbeat 2026 Forecast

The biopharmaceutical sector often paints a picture of stark contrasts, with ambitious clinical trials rubbing shoulders with complex financial maneuvering. Market movements today highlight this dynamic perfectly. While Iovance Biotherapeutics experienced a notable dip in its share price despite its groundbreaking cancer research, Phathom Pharmaceuticals gave investors a glimpse into its future with a highly optimistic financial forecast.

Iovance Navigates Market Headwinds

Iovance Biotherapeutics Inc. (IOVA) took a hit in recent trading. The stock dropped 7.18% to close down $0.27 at $3.56. Shares opened the day at $3.80 and fluctuated between a tight day range of $3.52 and $3.82. Trading volume was solid, hitting 11.35 million shares compared to an average daily volume of 12.59 million. Even with the company’s market cap currently sitting at a robust $1.28 billion, the stock remains somewhat volatile, bouncing within a 52-week range of $1.64 to $5.64.

Obviously, day-to-day numbers only tell a fraction of the story. Iovance is a clinical-stage pioneer heavily focused on transforming cancer treatment from the ground up. They are actively harnessing the human immune system to recognize and destroy diverse cancer cells. Their innovative approach relies on highly personalized autologous TIL cell therapies specifically designed for patients battling solid tumors. Right now, the company is laying the vital groundwork for potential U.S. regulatory approvals and the subsequent commercialization of what could be the very first autologous T-cell therapy targeting solid tumors. They operate on a global scale, splitting their commercial and developmental focus between the United States and the rest of the world.

Phathom Looks Ahead to 2026

Shifting focus to corporate financials, Phathom Pharmaceuticals, Inc. is already laying out its long-term roadmap. The company recently issued its earnings guidance for the 2026 fiscal year. Management is officially projecting net revenues to land somewhere between $320 million and $345 million during this period. Interestingly, about $17 million to $20 million of that total revenue projection stems directly from a strategic change in financial classification.

Looking at the bottom line, the company expects to hit operating profitability by the third quarter of 2026 and maintain it for the full year. It is important to note that this profitability metric excludes stock-based compensation. To make this happen, Phathom is tweaking its internal accounting practices. Starting January 1, 2026, the company plans to roll certain third-party costs directly into the cost of goods sold. Previously, these figures would have been logged as gross-to-net adjustments. This administrative pivot ultimately aims to streamline their financial reporting as the company pushes toward sustained market profitability.