Shares of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) are soaring 31.49% in Thursday's trading session following the release of the company's impressive third-quarter 2025 financial results and positive updates on its pipeline progress.

The biotechnology firm reported a 13% increase in total product revenue compared to the previous quarter, reaching approximately $68 million. This growth was primarily driven by U.S. Amtagvi sales of around $58 million and global Proleukin revenue of about $10 million. Notably, the company's gross margin improved to 43%, which management attributed to enhanced execution and operational efficiency.

Iovance also highlighted several key developments in its pipeline. The company reported positive interim data from the IOV-LUN-202 clinical trial, demonstrating a potentially best-in-class clinical profile for lifileucel in previously treated advanced nonsquamous non-small cell lung cancer (NSCLC). The objective response rate was 26%, and the median duration of response was not reached after more than 25 months of follow-up. Additionally, Iovance reaffirmed its full-year 2025 revenue guidance within the range of $250 to $300 million, boosting investor confidence in the company's growth trajectory.