Iovance Biotherapeutics makes and sells tumor infiltrating lymphocyte (TIL) cell therapies for solid tumor cancers. TIL therapy works by harvesting T cells from a patient's tumor tissue, multiplying them at Iovance's centralized manufacturing facility in Philadelphia, and infusing them back into the patient to target and destroy cancer cells. Iovance's flagship product, Amtagvi (lifileucel), is the first FDA-approved TIL cell therapy and the only approved cell therapy for any solid tumor, currently indicated for adult patients with previously treated advanced melanoma who progressed after anti-PD-1 therapy. Iovance sells Amtagvi through a network of roughly 70 Authorized Treatment Centers (ATCs) — academic and community hospitals with the infrastructure to administer cell therapy — priced at approximately $562,000 per infusion. Revenue scales directly with the number of patient infusions. Gross margin is a key leverage point, as manufacturing costs are largely fixed while revenue grows with volume; management targets above 70% gross margins over time. Iovance also sells Proleukin (aldesleukin), an IL-2 product required in every Amtagvi treatment regimen, which adds a secondary revenue stream. Iovance's growth strategy centers on deepening penetration at existing ATCs, expanding the ATC network into community oncology, pursuing international approvals, and expanding Amtagvi's label into non-small cell lung cancer and frontline melanoma.