Good morning. Will the meeting please come to order? My name is Iain Dukes, and I'm the Chairman of the Board of Directors of Iovance Biotherapeutics Incorporated. I'm pleased to welcome all of you to this annual meeting of the stockholders of Iovance Biotherapeutics. This meeting is being held virtually through a live webcast. Several of Iovance's directors and executive officers are attending today's meeting virtually. Two of our officers, Corleen Roche, our Chief Financial Officer, and Fred Vogt, our Interim Chief Executive Officer and President and General Counsel, are in attendance and available to answer questions. Also present is [Iqbal Shapouri], a representative of Ernst & Young LLP, the company's independent registered public accounting firm. Marlene Aguilar of Broadridge has been appointed to serve as the Inspector of Elections for the annual meeting and will deliver a report about the results of the stockholders' votes on the matters that will be considered at today's meeting. Ms. Aguilar has signed an oath to serve as the Inspector of Elections, which will be filed with the minutes of this meeting. Ms. Aguilar, do we have a quorum? Please explain the procedures for voting today. Good morning. As the Inspector of Elections, I hereby confirm that a quorum is present and that this meeting is duly and properly convened. The polls are now open for voting online. If you're a stockholder of record and wish to vote online, please do so by following the instructions in the online meeting portal. As a reminder, you will need your 16-digit control number in order to access the meeting and vote your shares through the online portal. If you require any assistance or experience any technical difficulties, please contact the Broadridge technical support team by following the instructions in the online portal. If you have any questions, you may use the online portal to submit them at any time. At the conclusion of the legal portion of the meeting, Dr. Vogt will give a brief presentation on the company's business. Following the presentation, approximately 15 minutes has been set aside for a question and answer session. If you have already voted by proxy and do not wish to change your vote, you do not need to cast a ballot online today. Iovance's proxy statement and notice of meetings were made available on or about April 30th, 2026 to persons holding Iovance shares as of the record date of April 15th, 2026. We will now discuss and vote upon each of the s scheduled to come before the meeting. I'd like to introduce Corleen Roche, Iovance's Chief Financial Officer, who has been appointed to serve as the Secretary for the annual meeting and will conduct this part of the meeting. Good morning. We will address any questions during the Q&A session following Dr. Vogt's presentation. As a reminder, please refer to our rules of conduct for the meeting, a copy of which has been posted to the online meeting portal. Stockholders are generally limited to one question each, because our time is limited, we may not be able to answer all of your questions during the Q&A session. The polls are now closed. We will now proceed to a vote on the proposals. The first matter on which stockholders are voting is the election of our nominated directors to serve until the 2027 annual meeting of stockholders. Our Nominating Committee has recommended and our Board of Directors has approved the director nominees described in our proxy statement. The second matter on which the stockholders are voting is the approval on a non-binding advisory basis of the compensation of the named executive officers of Iovance Biotherapeutics as disclosed in the proxy statement. The third matter on which stockholders are voting is the approval on a non-binding advisory basis of the frequency of future votes on the compensation of our named executive officers. The fourth matter on which stockholders are voting is the ratification of our appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. As described in our proxy statement, the Board of Directors recommends that stockholders ratify the appointment of Ernst & Young LLP. The fifth matter on which the stockholders are voting is for the approval of an amendment to the company's 2020 Employee Stock Purchase Plan to increase the number of shares of the company's common stock authorized for issuance thereunder by one million shares as disclosed in the proxy statement. The sixth matter on which stockholders are voting is for the approval of an amendment to the company's certificate of incorporation as amended to increase the number of authorized shares of the company's common stock from 500 million shares to 650 million shares as disclosed in the proxy statement. We will now hear from Ms. Aguilar, who will read the preliminary report of the Inspector of Election as to each of the proposals on which the stockholders voted. Based on the preliminary report of Proposal one, each of the nominees has been selected as the director to serve until the 2027 annual meeting of stockholders. Proposal two, the stockholders have approved the compensation of the named executive officers as disclosed in the proxy statement. Proposal three, the stockholders have approved one year as the frequency of future votes on the compensation of the company's named executive officers. Proposal four, the stockholders have ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2026. Proposal five, the stockholders have approved the amendment of the company's 2020 Employee Stock Purchase Plan. Proposal six, the stockholders have approved the amendment to the company's certificate of incorporation to increase the number of authorized shares of the company's common stock. The final results will be disclosed in the company's current report on Form 8-K that the company expects to file. The inspector's report indicates that all the proposals before this meeting have passed. I hereby adjourn the legal portion of the meeting. I would like to take this opportunity to thank you for your attendance and continued interest in Iovance. I will now ask Dr. Vogt to give a presentation about Iovance's business and operations, and there will be an opportunity for questions from stockholders after his presentation. At the outset, I would just like to note that during the course of Dr. Vogt's presentation and the Q&A session, Dr. Vogt or other representatives of the company may make forward-looking statements regarding future events or the future financial performance of the company. Such statements are predictions only, and actual events or results could differ materially from those made in any forward-looking statements due to a number of risks and uncertainties, including assumptions about future events based on current expectations, revenue guidance, planned business development efforts, near and long-term objectives, potential new business strategies, organization changes, changing markets, marketing efforts, future business performance, and outlook. I refer you to the company's most recent filings with the U.S. Securities and Exchange Commission, which contain and identify additional information covering factors that could cause the results to differ materially from those contained in our projections or forward-looking statements. Except as required by law, the company does not assume any responsibility for updating any forward-looking statements, and the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Thank you, Corleen. I'll now commence the presentation. As Corleen just mentioned, forward-looking statements are presented here. Iovance is the global leader in innovating, developing, and delivering TIL therapies for patients with cancer. We have two approved products, AMTAGVI, which is our TIL therapy known as lifileucel, approved in the United States, Canada, and Australia, and PROLEUKIN, or aldesleukin, an IL-2 product that's approved in many markets globally. We've treated more than 1,500 patients with Iovance products, more than anybody in the field. Our commercial launch is summarized here. We've got more than 90 treatment centers. 95% of our patients live within 200 mi of one of our treatment centers. In our most recent report, we showed 45% growth year-over-year from the prior quarter. Our financials are summarized here, including our revenue guidance of $350 million-$370 million for the full year of 2026. For second quarter, $86 million-$88 million, and $319 million of cash as of the last report. Iovance is the pioneer in this field, and we sit upon a platform technology and a robust pipeline in many blockbuster indications. In melanoma in the United States alone, AMTAGVI and PROLEUKIN have more than $1 billion of sales potential in the current approved second-line indication. We are the first and only approved treatment in this indication. As I mentioned before, we've seen exceptional year-over-year growth, and we have our revenue guidance showing a very strong year coming forward here. We've presented five-year durability data, 31.4% objective response rate, about 20% overall survival, and a median DOR of 36.5 months, and these are heavily pretreated patients. In the real world, we see a 44% objective response rate, 52% objective response rate in patients with two or less prior lines of therapy, which is the labeled indication. In non-small cell lung, in the second-line setting, we have about seven times the market opportunity with high unmet medical need with limited treatment options. Standard of care docetaxel provides only a 12%-13% objective response rate and a short DOR of only a few months, short survival as well. We have potential best-in-class lifileucel clinical data that we released in November of last year that shows almost a 26% objective response rate and median duration of response not reached at 25+ months of follow-up. We recently announced the Fast Track designation we received for this indication from the U.S. FDA, and we're looking forward to a potential launch in the second half of 2027. Noteworthy is that this launch would leverage all the experience we have in commercial footprint and manufacturing from lifileucel in melanoma. As I mentioned earlier, we have a $319 million cash runway well into 2028. We've shown 41% gross margin, but we expect it to be significantly higher throughout the year. We have ongoing initiatives improving OpEx, cost of sales, and gross margin. We have the leading immuno-oncology pipeline in solid tumors. We own our internal manufacturing, our own facility, complete control of it, a tremendous asset that we have at this company. We have more than 5,000 patients a year of annual capacity at that facility. As I mentioned before, we've already treated in the thousands of patients. Our pipeline is summarized on this slide. We retain all global rights ourselves. At the top are the two approved products that I mentioned before. I'll focus on the pipeline here. At the top of this pipeline slide, we have our Frontline Advanced Melanoma Study, TILVANCE-301, which is the confirmatory trial for accelerated approval in second-line, but also expands our indications to frontline. We have the LUN- 202 trial, which I mentioned earlier, in second-line non-small cell lung cancer. We've got a new study, or at least a recently announced study, IOV- SAR- 201, in two advanced soft tissue sarcomas, dedifferentiated liposarcoma and undifferentiated pleomorphic sarcoma, DDLPS or UPS. We're very excited about this and recently announced a 50% objective response rate in the initial patients in this study. We've got our MEL- 202 study, which is in second-line advanced melanoma. We've got our Endometrial Study, N201, which we recently announced a 40% response rate in the serous subtype, and we are now focused on that with this indication going forwards. We've got our PD-1 inactivated TIL therapy, IOV-4001, which is the study known as IOV-GM1-201. This is running in Post-PD-1 Advanced Melanoma and non-small cell lung, and we're looking forward to disclosing data on that at some point soon. We've got our IL-2 analog, IOV-3001, which is in safety phases of phase I study right now in dose escalation, and it's going quite well, and we hopefully can discuss that soon as well. We have our newly IND-cleared IOV-5001 product, which is in post-ICI colorectal, triple-negative breast, and ER low breast, as well as other indications in a study that's now going to be known as IOV-GE1-201. A very full and rich pipeline that can potentially address hundreds of thousands of patients with cancer with curative intent. In melanoma, we have a tremendous market opportunity. This is the approved indication right now and as well as the frontline indication. We have 8,500 patients dying a year in the U.S. with second-line advanced melanoma. In the ex-U.S. markets we're targeting right now, we have another 22,000 and overall 70,000 patients in the frontline setting as well. 50% of patients on the frontline standard of care progress within 12 months. Median overall survival after progression on frontline therapy is five months, and three months if the patient has a BRAF mutation. The market expansion opportunity in other solid tumors is summarized on this slide. Again, I already mentioned melanoma, I'll focus on lung, soft tissue sarcomas, and endometrial. You can see the tremendous upside here with hundreds of thousands of deaths globally as well, or millions of deaths globally, as well as hundreds of thousands in the U.S. for lung, as well as some significant opportunities in soft tissue sarcomas and endometrial cancer. The map here shows our approved and planned markets. To summarize at the end here, our financial position and outlook. Again, the guidance for this year is $350 million-$370 million, and for second quarter is $86 million-$88 million. Cash position we already covered, but cash runway is into 2028, and our focus right now is on revenue growth, margin improvement, and cost control. With that, I'll turn to questions. It looks like we've received one question on the market value of Iovance. I can answer that. We are focused right now on growing revenues and showing the value of our pipeline, which we think over the next couple quarters with revenue growth, with margin growth, and with continued data releases, will drive the value of the stock higher. I don't see any other questions. With that, I think we can conclude our meeting. Thank you for your continued support of Iovance. That concludes today's meeting and webcast. We do thank you for joining. You may now disconnect your lines.
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