Iovance Biotherapeutics Reports Second Quarter 2018 Financial Results and Provides Corporate Update - Company to Host Conference Call at 4:30pm ET Today

Iovance Biotherapeutics Reports Second

Quarter 2018 Financial Results and Provides Corporate Update

- Company to Host Conference Call at 4:30pm

SAN CARLOS, CA - August 6, 2018 -- Iovance Biotherapeutics,

Inc. (NASDAQ: IOVA), a biotechnology company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte (TIL)

technology, today reported its second quarter and six months ended June 30, 2018 financial results and provided a corporate update.

"The dosing of the first patient with lifileucel in Europe

for the treatment of metastatic melanoma marked an important milestone for Iovance and our global development plans as we continue

our mission to develop TIL therapy as a treatment option for cancer patients. In line with expansion of the TIL platform, we are

initiating investigation of TIL therapy in several new indications with high unmet need, as part

of our collaboration with MD Anderson," said Dr. Maria Fardis, Ph.D., MBA, president and chief executive officer of Iovance

Biotherapeutics. "We continue to advance our four company-sponsored trials and intend to provide an update regarding our

melanoma program later this year."

Second Quarter 2018 Financial Results

Net loss for the second quarter ended June 30, 2018 was $30.7

million, or $0.34 per share, compared to net loss of $23.4 million, or $0.37 per share for the same period ended June 30, 2017.

Research and development expenses were $24.6 million for the

second quarter ended June 30, 2018, an increase of $6.0 million compared to $18.6 million for the second quarter ended June 30,

2017. The increase in research and development expenses was primarily attributable to a $2.8 million increase in payroll and related

expenses, including stock-based compensation expenses, due to a higher number of full time employees and dedicated consultants

as we expanded our research efforts and clinical development programs. In addition, a $4.5 million increase occurred due to clinical

trial costs because of higher patient enrollment and the number of clinical sites in the clinical trial of lifileucel, for the

treatment of metastatic melanoma, and the ongoing clinical trials of LN-145 for the treatment of cervical, head and neck and lung

cancers. These increases were partially offset by a $1.0 million decrease in manufacturing costs due to higher costs in 2017 related

to technical transfer activities.

General and administrative expenses were $6.8 million for the

quarter ended June 30, 2018, an increase of $1.9 million compared to $4.9 million for the second quarter ended June 30, 2017. The

increase was primarily attributable to a $1.6 million increase in payroll and related expenses, including stock-based compensation

expenses, due to an increase in head count and higher stock prices during the quarter, and a $0.3 million increase in professional

service and legal expenses.

Six Months Ended June 30, 2018 Financial Results

Net loss for the six months ended June 30, 2018 was $ 57.2 million,

or $0.65 per share, compared to net loss of $44.1 million, or $0.71 per share for the same period ended June 30, 2017.

Research and development expenses were $44.5 million for the

six months ended June 30, 2018, an increase of $10.3 million compared to $34.2 million for the same period ended June 30, 2017.

The increase in research and development expenses was primarily attributable to a $5.7 million increase in payroll and related

expenses, including stock-based compensation expenses, primarily due to a higher number of full time employees and higher stock

prices in 2018, and additional outside services contracted to perform research and development activities on our behalf, and a

$7.0 million increase in costs related to our clinical trials as we expanded our clinical development programs into additional

indications and added clinical trial sites in Europe. These increases were partially offset by a $2.0 million decrease in manufacturing

costs due to higher costs in 2017 related to technical transfer activities.

General and administrative expenses were $13.8 million for the

six months ended June 30, 2018, an increase of $3.6 million compared to $10.2 million for the same period ended June 30, 2017.

The increase was primarily attributable to a $2.7 million increase in payroll and related expenses, including stock-based compensation

expenses, due to a higher number of full time employees and higher stock prices in 2018, and a $0.5 million increase in legal expenses.

At June 30, 2018, the company held $276.1 million in cash, cash

equivalents, and short-term investments compared to $297.1 million at March 31, 2018. During the second quarter the company used

$24.0 million for operating activities. The company anticipates that the year-end balance of cash, cash equivalents and short-term

investments may be between $190 to $210 million.

Webcast and Conference Call

Iovance will host a conference call today at 4:30 p.m. ET to

discuss these second quarter and six months ended June 30, 2018 results and provide a corporate update. The conference call dial-in

numbers are: 1-844-646-4465 (domestic) or 1-615-247-0257 (international). The conference ID for the call is 5177499. The live

webcast can be accessed under "News & Events" in the "Investors" section of the company's website

at http://www.iovance.com/ or you may use the link: https://edge.media-server.com/m6/p/xqrxbkif.

A replay of the call will be available

from August 6, 2018 at 7:30 p.m. ET to August 13, 2018 at 8:30 p.m. ET. To access the replay, please dial 1-855-859-2056 (domestic)

or 1-404-537-3406 (international). The reference access code is 5177499. The archived webcast will be available for thirty days

in the Investors section of Iovance Biotherapeutics' website at http://www.iovance.com.

About Iovance Biotherapeutics, Inc.

Iovance Biotherapeutics,

Inc. is a clinical-stage biotechnology company focused on the development of cancer immunotherapy products for the treatment

of various cancers. The Company's lead product candidate is an adoptive cell therapy using TIL technology being investigated for

the treatment of patients with metastatic melanoma, recurrent and/or metastatic squamous cell carcinoma of the head and neck,

recurrent, metastatic or persistent cervical cancer and locally advanced or metastatic non-small cell lung cancer. For more information,

please visit http://www.iovance.com.

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking

statements". We may, in some cases, use terms such as "predicts," "believes," "potential,"

"continue," "estimates," "anticipates," "expects," "plans," "intends,"

"may," "could," "might," "will," "should" or other words that convey

uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Company's statements

regarding clinical trials in Europe and the U.S. are examples of such forward-looking statements. The forward-looking statements

include, but are not limited to, risks and uncertainties relating to the success, initiation, timing, projected enrollment, progression

through stages in trial design, completion, manufacturing capabilities, and cost of our ongoing clinical trials and anticipated

clinical trials for our current product candidates (including both Company-sponsored and collaborator-sponsored trials); the timing

of and our ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other

action with respect to, our product candidates; the strength of Company's product pipeline; the successful implementation

of the Company's research and development programs and collaborations; the success of the Company's manufacturing,

license or development agreements; the acceptance by the market of the Company's product candidates, if approved; the Company's

cash guidance; and other factors, including general economic conditions and regulatory developments, not within the Company's

control. The factors discussed herein could cause actual results and developments to be materially different from those expressed

in or implied by such statements. A further list and description of the Company's risks, uncertainties and other factors

can be found in the Company's most recent Annual Report on Form 10-K and the Company's subsequent filings with the Securities

and Exchange Commission. Copies of these filings are available online at www.sec.gov or www.iovance.com.

The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to

publicly update such forward-looking statements to reflect subsequent events or circumstances.

Investor Relations Contact:

Stern Investor Relations, Inc.

Media Relations Contact:

IOVANCE BIOTECHNOLOGIES, INC.

Selected Consolidated Balance Sheet Data

(Unaudited, in thousands)

IOVANCE BIOTECHNOLOGIES, INC.

Condensed Statements of Operations

(unaudited, in thousands, except per share information)