Q2 2025 Iovance Biotherapeutics Inc Earnings Call
Good day, and thank you for standing by, welcome to the iio Vance. Bio Therapeutics second quarter 2025 Financial results conference call. At this time, all participants are in a listen-only mode.
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I would now like to hand the conference over to your speaker. Today, Sarah Pellegrino senior, vice president and best relations and corporate Communications. Please go ahead.
Thank you, operator. Good afternoon, and thank you for joining me. I have an advanced conference call and webcast to discuss our second quarter and first half 2025 financial results, as well as recent updates.
Dr. Fred Vose, our interim, chief executive officer and president will provide an introduction and brief overview of our key financial results, including revenue and revenue, guidance, operating expenses and our strategic restructuring.
Dan Kirby Chief commercial officer will discuss discuss, product revenue and Commercial and Regulatory updates for Mazi.
Dr. Igor valinski, our chief operating officer will provide a manufacturing update.
And Dr. Frederick spin our chief medical officer will summarize, our priority pipeline program.
Additional members of our leadership teams, including Dr. Raj Perry, our chief regulatory officer and Dr. Brian gasman, our Executive Vice President of medical Affairs will be available for the Q&A session.
In addition, our new Chief Financial Officer corlene rosh is joining today's call.
Earlier this afternoon, we issued a press release that is available on our corporate website at iovance. Before we start, I would like to remind everyone that statements made. During this conference call will include forward-looking statements regarding IO Vance's goals business, focus, business plans, and transactions, revenue, and revenue, guidance commercial activities, clinical trials, and results regulatory approvals and interactions plans and strategies research and pre-clinical activities.
Potential future applications of our Technologies. Manufacturing capabilities regulatory feedback and guidance payer interactions. Restructuring plans and Workforce, reductions licenses and collaborations cash position and expense guidance and future updates.
Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond our control, including the risks and uncertainties described from time to time in our FCC filing.
Our results May differ materially from those projected during today's call.
We undertake no obligation to publicly update, any forward-looking statements with that. I will turn the call over to Fred
We are more than a year into our us. Launch of antagonist for advanced Noma, the first FDA approved till cell therapy.
Adoption continues to grow. And for the first time we surpassed more than 100 patients treated in a single quarter.
We also excited about our first real world data set for amp. Tag me monotherapy in the commercial setting.
Topline results showed a nearly 49% response rate among 41 patients.
Number 23, patients treated in third line or earlier treatment settings and approximately 61% response rate all from patients treated in accordance with their label.
We look forward to sharing more detailed real-world data and upcoming medical meetings.
Another important growth driver for amagi is onboarding large community practices to join our ATC Network.
We plan to begin treating patients from these practices in the fourth quarter of this year.
Patients in the community are generally earlier in their melanoma treatment journey and we expect that the higher response rates observed in our real world data set will also be relevant to these patients.
Our Commercial Business is complemented by an exciting pipeline led by our programs to extend the life of lucil franchise in the new treatment settings and solid tumor types.
As well as Next Generation approaches.
We remain on track for multiple clinical milestones in the second half of this year, including.
Updated data from our registrational, trial of lake lucal, monotherapy. And previously treated Advanced non small cell lung cancer.
Clinical data for Lake Lucal, monotherapy, and endometrial cancer.
And for IV40001, our next generation PD-1 and activated pill cell therapy.
Today, I will cover Financial results at a high level focusing on Revenue expenses.
Cash, Runway, the expected cost savings from our strategic or structuring.
I'll begin with revenue and gross margin.
In the second quarter, we reported 60 million dollars in total revenue, a 22% growth over the prior quarter of this year.
Total revenue included approximately 54 million trim. Tagging infusions and approximately 6 million dollars from producing.
based on current growth, growth Dynamics and with approximately 109 million dollars in total revenue for the first half of 2025,
We are reiterating our full year 2025 Revenue, guidance of 250 to $300 million.
Inclusive of sales from a tag being in the US and prolonging globally.
The container Street strong demand for a tag, me in the potential to achieve us peek sales of 1 billion or more.
There's also a significant opportunity to add to the revenue potential in the international markets.
Gross margin was 31%. Excluding non-cash items such as intangible, amortization, stock based compensation, and reserves primarily for excess prolook and inventory.
Our recent restructuring is expected to improve gross. Margins in the near term through reduced cost of sales.
Growth margins are also expected to increase significantly through the near term, optimization of manufacturing capacity utilization.
Over the next several years.
In summary, we are focused on improving our profitability.
And our pleased with the strong momentum from our us Commercial Business.
Transitioning. The second quarter of 2025 expenses.
Total operating expenses were approximately 117 million dollars compared to a proximately 102 million dollars in the prior year period.
This increase was primarily related to higher head, count and related costs and costs for clinical trials, and marketing and advertising support for cramp tag me.
Partially offset by reductions in stock based compensation.
After experiencing a tremendous period of organizational growth growth in 2023 and 2024.
We are fully committed to streamlining expenses and optimizing business performance to a strategic restructuring announced today.
This restructuring includes a Workforce reduction of approximately 19% in the third quarter of 2025 and will generate more than 100 million dollars in annual cost savings starting in the fourth quarter of 2025
as I mentioned earlier, in addition, to significantly reducing expenses this restructuring,
Loss of significantly, reduce our cost of sales and increase gross margins on an ongoing basis.
We would like to extend our heartfelt appreciation and best wishes to the employees impacted by the reduction in workforce.
Realigning, our operating plan and cost structure involves some difficult of meth necessary decisions.
To ensure Financial discipline while continuing to invest in our commercial launch success.
Notably, our registration and early phase programs remain on track, and those significant changes to our product life plan are inspected.
Our next cash burn is significantly, reduced over our prior forecast.
With the next 4 quarters through the second quarter of 2025.
That cash burn is expected to be less than 245 million.
Excluding 1-time charges of less than 6 million associated with the third quarter. Strategic restructuring.
Optimized and refine our call structure through. Operational excellence initiatives over the next 2 to 3 quarters. And importantly, we expect ongoing reductions in expenses and improvements in cost of sales.
Our current cash position of approximately 307 million in anticipated product, Revenue including cost savings from the Strategic restructuring.
Our expected to be sufficient to fund funds, current and planned operations into the fourth quarter of 2026.
I am happy to go into more detail during the Q&A.
Notably we are excited to welcome our new Chief Financial Officer Coraline row who joined our team this week. We look forward to the clean covering the financial results in detail from next quarter onwards and she's available for today's Q&A session.
I will now turn the call over to Dan Kirby, Chief commercial officer for a detailed update on our commercial launch and our experts regulatory milestones.
Thanks Fred.
I'd like to build on the earlier Revenue discussion by highlighting individual and product drivers for Aunt tag, the and prologue.
I'll also provide an update across our 3. Key Focus areas to drive us launch performance as well as our strategy for end tag meetings outside
order of 2025 representing a growth of 24% quarter of a quarter.
A total of 102 commercial patients were treated representing the highest number of anti infusions for a single quarter to date.
Infusion growth was a direct result of increased field activities and existing atc's and contribution of new atc's.
Onboarded earlier this year.
Our commercial organization is also dedicated to supporting and growing proloan sales.
Product revenue from program was approximately 6 million dollars in the second quarter of 2025, an increase of 2% quarter over quarter.
2 of the 3, major US wholesalers restocked, during the most recent quarter.
As a reminder, first quarter sales for Lucan were attributed primarily to manufacturing and clinical uses.
not the main Channel, tied to him tagged, the use
these 2 channels represent additional Revenue growth opportunities for prolific
Now that wholesalers are reordering from the main Channel. We expect prolook and revenue to begin to reflect and tag the demand
looking forward to the remainder of the year. We are confident in continued growth from tagging and prolonging
We are confirming our full year 2025 total revenue guidance of 250 to $300 million.
This aligns with our us and tagged the growth forecasts including expected momentum from Community referral activities and large community practices.
As a reminder, our 2025 guidance includes sales of Integrity only in the United States.
As well as prolific.
and tagging has the opportunity to address more than 30,000 patients globally with previously treated Advanced melanoma,
At Fred's, dated we continue to see the potential to achieve and tag the USP sales of equal to or greater than 1 billion dollars.
There is also significant opportunity to add to this potential through International sales of intact.
Moving on to key launched performance drivers. Our number 1 goal is to establish and tag the as the preferred option for all appropriate patients.
And tag me is a game changer for melanoma patients, who have failed first line treatment.
For the first time in advanced melanoma and solid tumors Cell Therapy made from the patient's own cells has been shown to induce long-term benefit with Curative intent.
On last quarter's call, I highlighted 3, key areas to drive performance and would like to comment on our progress.
first adoption across our ATC Network continues with strong steady growth at early centers, new centers, treating patients and increase integration with Community practices,
A second performance driver is engaging medical, oncologists to guide earlier consideration, Farm tag team.
Our first real world data shows approximately half of all patients responding.
Including 60% of patients responding in earlier treatment centers.
These results reinforce our message in the field and can guide earlier treatment practices within the scope of our label,
Our disease education focuses on the benefits of durable responses, with one-time cell therapies like Maki versus temporary responses and ongoing side effects seen with other treatments.
The third area is to penetrate us Community oncology networks and increase the frequency speed and overall, timeliness for untagged referrals.
Last quarter. I mentioned that we were working to identify alternative distribution channels on top of our traditional specialty distributor Mo model.
Line therapies like Auntie.
In direct response to requests from large community practices. We entered our first agreement with nessan's biologic. Specialy, Pharmacy. And other transactions are planned.
This new channel will allow hospitals to have the choice to either, buy and tag me directly or go through a specialty pharmacy, where they do not have to directly purchase the product.
Transitioning to our exas strategy, we are making progress toward approval in 4 additional markets.
Canadian approval is expected imminently, and we are making progress toward approval in the UK.
We gain priority review for our submission in Australia. We are also in the submission process for Switzerland.
In the European Union. As noted in the press release today, we recently withdrew our submission from the European medicine agency, following lack of alignment, during discussions of our clinical data,
We are currently evaluating strategic options such as including a virtual control arm in the submission to make and tag me until therapy broadly accessible to Advanced melanoma patients with unmet medical need in Europe.
We look forward to providing updates on our regulatory interactions in the near future.
As stated previously, our full year 2025 total revenue guidance does not include NAGD sales outside of the United States.
As part of the restructuring, our customer-facing teams remain well-resourced and focused to deliver, tag the infusions for patients, drive demand, and generate revenue from tag. Me and ProLone to move Iovance forward.
I am committed and motivated to lead our commercial organization towards success.
I'm deeply committed to Mission of
Pioneering a new treatment Paradigm for Physicians who treat patients with solid tumors, which represent, 90% of all cancers.
I will now pass the call over to e verbal our chief operating officer to highlight our manufacturing progress,
Thank you, Jim.
I will focus on this manufacturing update on Commercial performance and recent organizational changes.
I'll also build them presents introductory comments about our ongoing initiatives to improve cross margins.
Our internal manufacturing facility, the oil and self therapist Center for ictc supplies. The vast majority of patients today for both commercial and clinical Manufacturing
Our country manufacturer provides Second Source backup.
Owning our own facility and relying more and more on internal manufacturing provides us with full control to maintain high quality, Implement operational efficiencies and optimize cost of sales.
ICDC also offers a flexibility to scale up rapidly. When
Manufacturing success, delivering final product to patients within defined. Specifications is critical for, providing therapies locations, and for recognizing Revenue.
Across functional areas of high events from manufacturing to Medical Affairs and Commercial. We have focused and committed to improving success rates.
As a result, the success rate in the second quarter. Rebounded, compared to the first quarter with lower patient, drop offs, and lower out of spect rates, and we can continue seeing improvements in the third quarter today.
I'd also like to highlight that as planned. We delivered on our goal to 4 manufacturing turnaround time, which is now 33 days from receipt of sales at the manufacturing facility to untag, the redness for return shipment to the ATC.
Turning to our strategically structuring. Our manufacturing organization has been realigned for operational excellence.
We previously staffed our manufacturing Network to provide the capacity to meet our our prior Revenue guidance.
Now we have right sides and optimize the capacity and headcount to align with the revised guidance and growth projections.
Our streamline, manufacturing organization and ongoing implementation of operational. Decisions is I expected to increase capacity utilization to reduce costs and improve gross. Margins in the second half of 2025 and Beyond.
Shifting to the current macroeconomic and geopolitical environment.
I'll reiterate that Pi events is operating as a strategic Advantage within the biofarma industry, we continue to expect and tag the Improvement to see minimal impact from tariffs.
Regarding our intellectual property, our still-self self-therapy expertise in manufacturing capabilities are protected by a robust patent state that is valid in the U.S.
Best price for him, taxi, and other till related Technologies, expected to provide exclusivity through at least 2042.
I'm available to answer questions during the Q&A session and I will now hand it over to Dr. Fedrick finsteen, our chief medical officer to discuss our clinical pipeline,
Thank you, Igor.
Building on my colleagues comments about and tag the or life elusive, the durability of responses, following 1-time treatment is a key differentiator from other available and emerging Therapies.
This durability message was reinforced in the recent publication of the final 5 year analysis. From our C1 144401 trial in the journal of clinical oncology and the simultaneous presentation at the American Society of clinical oncology annual meeting
unprecedented durability and duration of follow-up were demonstrated in previously treated Advanced melanoma patients.
31% of patients responded with nearly a third of responders ongoing.
The 5-year overall, survival rate was almost 20%.
In the real world treatment settings, we are excited to see even better response rates of approximately 50% overall and 60% in less heavily treated.
Patients following life Aloo. We look forward to presenting this real world data at the future medical meeting.
Following this strategic restructuring, our priorities are to expand and tag into additional solid tumor types and earlier lines of therapy, and to advance our key Next Generation treatment regimen.
In Frontline Advanced melanoma till then 301 is our Global registration or phase 3. Trial designed with FDA, and EMA input to show the contribution of components
We are investigating and tag these in combination with pemberley app compared to pemberley is a map alone.
Till then 301 remains on track as the confirmatory trial for em tag, the monotherapy in our initial indication and this trial could also support accelerated and full approvals of me. I in combination with pemberley map in front-line advanced melanoma.
we look forward to sharing results from several clinical trials before the end of the year for Life Aloo and non small salon and endometrial cancers, as well, as on our pd1 inactivated till cell therapy, iov 40001,
Iov Lund 202, as our registration of program intended to extend the label for life and lose the monotherapy to include previously treated Advanced non small cell lung cancer.
this trial design aligns with FDA guidance for single arm, trials to support accelerated approvals for single agents in conditions with unmet medical need
Chemotherapy the current standard of care in this treatment setting provides limited rate and duration of responses.
The FDA previously, provided positive regulatory feedback on the iov l22, clinical trial design and the proposed potency as a matrix to support registration.
We expect data from IOV L12 to support a potential regulatory decision on U.S. accelerated approval in 2027 for previously treated non-small cell lung cancer patients.
In our iov end 2011, clinical trials. We've seen promising signs of initial efficacy for Life, a rootle monotherapy, and previously treated patients with Advanced endometrial cancer.
Our pd1 inactivated T Cell Therapy. Iov 40001 is in a first in human trial and reflects our leadership in Next Generation, approaches to optimize till until treatment regimen.
We are also treating patients in a phase 1 2, clinical trial of iov 30001. A Next Generation il2 for use with the Tilt Cell Therapy treatment regimen.
Finally, we plant submit an investigational new drug application, to FDA early next year for iov 50001.
This genetically engineered inducible and tethered IO 12 till Cell Therapy, May expand our development opportunities, it's a wide range of common, solid tumor cancers.
I'm happy to address questions during the Q&A session.
Now, I'll turn the call over to the operator to begin the question-and-answer session.
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Please stand by while we compile the Q&A roster.
Our first question comes from Jan and zoo with Wells, Fargo, your line is open.
Oh great. Uh, thanks for taking, uh, taking our questions, uh, and, uh, congrats on the quarter. Um, I was wondering, can you talk about the, the patient member, um, uh, you know, uh, from 4, uh, from 1 to 2, to 2? Because I, I don't think we had a good sense of the exactly how many patient you infused last quarter, uh, in in WQ, who wanted to understand, uh, the growth in patient number. Um, and I also think you, you might have increased the price. Uh, so perhaps talk about the, the price change, uh, and impact, uh, for for impact, the revenue as well. And if you can also comment on, where do you think those infusion numbers will go in the coming quarters, uh, relative to your, uh, guidance and confidence? Uh, that would be super helpful. Thank you.
I thank you John and I'll start. And then I'll ask Dan Kirby to add some comments to this too. So the the number of a fuse that we had this quarter was 102 last quarter. It was 83 uh so that was substantial growth over the last quarter obviously there was a price increase that came into effect on April the 1st.
Uh, which took the price of the product of antagon to 562,000 us. Uh, we expect growth and I'll let Dan talked about what we expect in the second half of this year. Go ahead then sure. So um, for the price increase, I think your question was, did we see any impact of the price increase on demand? We did see, we did not see any impact, in fact, demand increased after the price, so we didn't factor that in as as being any kind of headwinds to follow.
So with that, we also look at the future and where we see patients coming in, we have our new centers coming on as we talked about in previous quarters and they continue to ramp up demand as well as our existing centers. What we do see in the future happening is we're in the process of opening, some atc's that are closer to the community networks. Um, I mentioned the distribution Channel, we added that is specifically at their request which gives us access to hospitals that normally were not going to purchase and packing. So we do see demand in the second half.
Continuing to be strong, to meet the guidance that we provided.
Oh sorry if I may quickly follow up. Uh I think I heard uh the gross uh intage number was from 83 to 102. Um I'm sorry 85 to 102. Yeah. 85 to 102 that's a pretty good growth. Um, do you anticipate similar growth going forward or, you know, any color there. Um, just so we have a better sense about uh what to expect in the coming quarters. Thank you.
We anticipate demand and continue to be strong. As far as quarter on quarter growth, we don't want to die to that. We want to still stick to the 250 to 300 range that we have in our Guidance with it, which would indicate second half demand will be strong.
Right. Thanks.
Thank you. Our next question comes from Peter Lawson with Berkeley. So, your line is open.
Great. Thank you so much. Thanks for the the detail on the call um just for just as if you think about the guidance. Um just your
Benefit of confidence around. Perlu, can you mentioned it kind of accelerating in the second half um, kind of or gives you that level of confidence and what do you think that probably can number could be.
And has there been any changes in the number of per leaking injections?
Thank you.
Peter, I'll take that question. I think for prolan in the mainline Channel, what we did see as evidenced in the revenue from q1 was we're seeing the manufacturing and the clinical trial channel that represented the q1 revenue. In Q2, we started seeing the re reordering at regular basis from 2 of the top 3 wholesalers in the US. So what we expect to see moving forward is those orders can continue in the 2 and then the third 1 coming on later this year. So it'll start to reflect more of the antagonist utilization.
Um, along with that, we are since we are seeing strong demand to use within tag me. So we have not seen the number of doses. Again, it's 0 to 6 doses, with 1 dose of impact me. We're not seeing the doses of for lukin change by Center. Each 1 will do it differently, but the average dose is remain consistent. And then finally, we do anticipate those other 2 channels. We've been talking about that. We've booked Revenue in q1, on continuing to order throughout the year. So you're you, you'll see some pickup in in proc and based on the fact that the wholesalers are coming online
Gotcha, thank you so much.
Thank you. Our next question comes from Andrew Tsai with Jeffrey. Your line is open.
Hey, good afternoon, thanks for the updates. Um, appreciate you taking the class. And so, um, if the guidance for net cash burn is going to be less than 235, uh, over the next year. And I believe restructuring happens later in the year. It feels as if you're expecting gross margins to improve meaningfully, uh, maybe even as early as Q3, uh, relative to Q2 and q1 is that accurate? And if so, can you give us some um color? Why that could be the case in terms of a meaningful? Uh, margin Improvement. Thank you.
Hey Andrew, thank you for the question. It, it was 2:45 not 2:35. You can see it in the press release in our remarks there. But but your question is still a good question. Uh, yes, we expect all we expect margins to approve. That's the whole. That's the whole name of the game right now, for pushing very hard. And a lot of the
The UM restructuring activities are really focused on improving margins, and now we're going to enter a phase of operational excellence over the next couple of quarters to really tighten down, call the sales, and do a lot of work to improve margins even more. As volume ramps up, we'll also see improvements in margins because the cost of sales will stay low while revenue goes up.
Especially as we scale up into our ICPC.
Facility.
So you're absolutely right. We expect to see margin growth and again this quarter we saw uh,
The margins, if you back out the non-cash, uh, uh, items and and things like that, you see a very good margin on a cash basis that we have already now. Uh, as you see more Pro Loop and sales increase, and as you see us do all those things, I'll see I think you'll see margins. Go up significantly.
Thank you.
Thank you. Our next question. Comes from Salem, said with mizuho, your line is open.
Hi. This is Venit for sale. Thanks for taking our questions. Um, could you elaborate on the decision to withdraw the marketing? Authorization application in Europe. Um, what was the feedback with the email and what are the steps that you're trying to take customers realize in Europe and and regarding the announcer structuring are you also planning to reduce R&D expenses and if so could you comment on any specific actions? You would would be planning to take to reduce? For example, clinical expenses, thank you.
Give some more and the expenses what we are not uh expecting any significant changes in our clinical pipeline as we as we discussed on the call.
Uh with respect to the EMA. Uh withdrawal we learned late in the review process that the we need to include additional analysis on our submission. So what we want to do is go back and resubmit with an additional analysis such as the virtual control arm. Uh we do not or strategy does not require us to run additional clinical trials uh and we think that can happen relatively quickly. We'll be seeing scientific advice from the from the EMA soon to try and get back in there and and work on that again with them. But that was really what the issue was. It has to do with the the data package. It was submitted, which we submitted with similar to the FBA package and health can a package and everything else. Uh, and they would like to see some more and easiest route for us to do that is to is to withdraw and resubmit.
All right. Thank you.
Thank you. Our next question comes from Tyler van Burren with TD Colin. Your line is open.
Great, thanks. This is Nick on for Tyler. Um, next I got a question. Uh, can you provide an update on how infusions are tracking for him tagged the quarter to date and then second in the first earnings call? And the first quarter earnings call you noted that 69% of adcs have infused 1 patient while 16% infused 10 or more? Can you provide an update on these metrics and the plan to increase? Prescribing, thanks.
I I'll I'll take that 1. Thanks for the questions, uh, for the infusions quarter to date. We do see strong demands. However, we can't comment on how many institutions quarter to date, that's been our policy. Um, as far as the percentage increase with it, those percents,
They have gone off, obviously, we have a not a personally, a lot more centers that came on in the last quarter. However, we went up 24% in Fusion, so those numbers by
centers are going up with it, but they we decided not to continually track those as in metric.
Thank you.
Thank you. Our next question comes from calling kusy with Bayer. Your line is open.
Hi, good afternoon, thanks for taking our questions. So this EMA feedback on melanoma. Do you expect this to impact your path forward in pd1 treated non small cell lung cancer?
No, not right now. Absolutely not.
Calling any impact on the going forward or continuing cancer.
Great and 1 quick follow up what sort of issues does moving to a specialty pharmacy solve for centers versus just buying through. You directly know it's a great question it really solves a if you think about the hospitals that are involved with the community clinics and you get closer to where the patients are. A lot of times you're dealing with medium-sized hospitals that have all the capabilities to administer and tag the however, 1 time therapies that have higher price tags, the finance department does not want to bring those in. Um, so they would rather go around where they would go through a specially Pharmacy where they purchase would happen through the Specialty. Pharmacy. And the Specialty Pharmacy would get reimbursed from the payer versus the purchase happening directly from the finance department at the hospital.
Great. Thank you.
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Our next question comes from Reni, Benjamin with citizens, your line is open.
Hey guys, thanks for taking the questions. Um, maybe 1, can you just talk a little bit about, you know, the the, the numbers in terms of uh patient drop offs versus um the manufacturing kind of out of spec rates I think ego or you know had some prepared remarks regarding that. Can you just talk about the specifics from first quarter to second quarter and how you see that?
Uh, potentially improving, uh, throughout the rest of the year, and then kind of just going back to a previous question regarding, um, uh, mckathan, how do you, how do you see this, you know, potentially improving, um, uh, revenues going forward like, is this something that should kind of minimally increase revenues? Like how, how, how should we be thinking about the number of patients these 1 off hospitals, you know, um, how much they might use this.
It runs. Thanks for the question. So, um, on the first part of the question, the, as I mentioned,
The manufacturing success rate, normalized in the second quarter compared to the increase in the first quarter. So both the out of spec rate and the patient drove off rates decrease and we're seeing further improvements in the third quarter so far. And as you can see in the queue you will see in the queue. The scrub costs went down in the second quarter compared to the first quarter. If you want to quantify that beyond that, we're not sharing the exact percentages. But again, you can look at this crop costs and see the decrease and the both absolute terms and the relative percentage.
And I'll answer the question regarding uh both patient drop off as well as the impact especially Pharmacy which are a little bit related. So patient drop off, does remain somewhat.
Consistent, although we did see that we were getting patients a bit earlier in this quarter versus previous quarters and we weren't seeing as many patients that were not making it even the tissue procurement. So we are making strides in that um, in that Avenue, the impact of specialty, pharmacy allows us to actually get closer to those patients. So we can get healthier patients upstream and how we should be thinking about that is we're starting our journey right now. Other cell therapies are following our lead Gene therapies and other therapies that are higher price of already gone down this road to successfully. So, as we think about how this can have an impact on it, this could get us next to those clinics.
That are affiliated with those hospitals, instead of network that they can treat patients inside of their Network without the cost per. So, it could have a big impact long term. We are already have several accounts right now that have requested it, that we're opening up this channel for. So, we will have some impact later this year.
Got it. And if I can just have a quick follow-up just regarding the clinical trials that are ongoing, um, for Friedrich. Just can you provide us any caller, in terms of, you know, how many patients are enrolled in in each of these studies? How many patients worth of data might we see for non small cell as well as the other ones that we're expecting like endometrial in the in the second half of this year.
Yeah, happy to respond to that. Um, so I think what we said is that we're going to we're going to share data, um, by the end of the year. Um, I we will provide that information as part of of those updates. I don't think that we, we will, uh, uh,
Pre predefined uh at which patient number. We, we would be doing that.
Okay, thank you.
Thank you. Our next question comes from David dye with EBS. Your line is open.
Based on current round rate, we calculated that patients need to grow about 25 to 32 patients per quarter over the next, uh, couple quarters in his midpoint of the guidance. Uh, could you just provide a detail that you're on track to hit that patient growth and secondly on the atc's you have 80 right now? How many of these 80s here are newly, activated, compared to last quarter? And how many are still being activated?
So 1 of the things. So I'll take that question with it. As far as the patient rounds, just to let you know, the the 250 to 300 million dollars is combined revenue, between prolook and NM tag me. So on the map, there, those numbers aren't 26 to 30 per quarter each
Quarter of the road to hit those numbers in the range. Um, but we are confident that we are tracking towards that range and seeing and tag, the demand continue to strengthen and grow as the and towards the end of the year as well. As prolong, as we mentioned before, having all 3, wholesalers starting to order very soon 2 of those doing. So currently in the main Channel, give us our path forward to hit within that guidance.
The second question: Regarding how many new ATCs again? We're focusing on quality, not quantity. We have no open. Several ATCs in the last quarter with it. Each one of those has been carefully vetted to have referral patterns in place so they can get earlier patients in there, and we are seeing—I'm not going to give the exact numbers here—we are seeing a substantial number of patients coming in the queue, both that have been already infused by them, but also to where they're enrolling in there to have manufacturing done for us.
For their patients.
Thank you. I'm showing no further questions at this time. I would now like to turn it back to Fred vote, and chief executive officer and president for closing remarks.
Thank you again for joining the Ivan spy, therapeutic second quarter of 2025 Financial results in corporate updates conference call.
We look forward to providing future updates on our growing commercial and clinical portfolio, including our Aunt tag. Me real world. Data presentation and plan data updates from our long endometrial and Next Generation till studies.
We are motivated by the stories. We continue to hear about the patients who benefit from my Advanced tilt cell Therapies in our clinical trials. And in the commercial setting, I'm confident that I have to remain the global leader in innovating developing and delivering current and future Generations until self therapy for patients with cancer. As always, we are thankful for the patients, Healthcare and advocacy communities, our partners and our exceptional, I Advance Team. I would also like to thank our shareholders and covering analyst for their support. Thank you.
This concludes today's conference call.
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