Iovance Biotherapeutics, Inc. (IOVA) shares surged 13.82% in pre-market trading on Thursday, following the release of its impressive third-quarter 2025 financial results and business achievements. The biotechnology company reported a significant 13% increase in total product revenue compared to the previous quarter, reaching approximately $68 million.

The strong performance was driven by robust sales of Amtagvi in the U.S., contributing around $58 million, while global Proleukin revenue added about $10 million to the total. Notably, Iovance's gross margin improved to 43%, which the company attributed to enhanced execution and operational efficiency. The firm also highlighted growing demand for Amtagvi and ongoing integration of community treatment centers, signaling potential for continued growth.

Investors appear to be reacting positively to Iovance's progress in its development programs for solid tumor cancers, as well as the overall strength of its financial results. The pre-market surge suggests that the market is optimistic about the company's future prospects and its ability to capitalize on the growing demand for its products in the biotechnology sector.