As the biopharmaceutical landscape evolves, Iovance Biotherapeutics is positioning itself not just to treat solid tumors but to significantly alter the trajectory of cancer therapies. The company, which develops a groundbreaking treatment known as Amtagvi (also referred to as lifileucel), is currently involved in an ambitious array of twelve distinct clinical trials. While some of these trials may yield promising results, others may not be as successful. However, the collective evidence is expected to demonstrate sufficient efficacy to justify the extensive investments being made.

Looking ahead, Iovance's financial outlook is optimistic, with projections indicating a potential revenue growth trajectory that could soar beyond $1.1 billion by 2027. Analysts anticipate a noteworthy shift to profitability, with earnings expected to reach $0.50 per share, signifying a significant turnaround for the company.

It is crucial to note that Iovance's journey is still in its nascent stages. The company's first drug approval, which occurred early last year, marked a significant milestone in its history. Specifically, Amtagvi received accelerated approval from the U.S. Food and Drug Administration (FDA) as an innovative tumor-infiltrating lymphocyte (T-cell) immunotherapy aimed at treating metastatic melanomas that have shown resistance to PD-1 blocking antibodies. This landmark approval not only makes Amtagvi the first of its kind for treating any solid tumor but also reflects the burgeoning field of cancer immunotherapy.

For seasoned investors, the size of a company often pales in comparison to its growth trajectory. In this regard, Iovance Biotherapeutics stands out. Reports suggest that revenue is anticipated to surge by over 180%, reaching $762 million this year, with a further increase of 45% to $1.1 billion next year. This robust growth is expected to transform the company's financial landscape, pulling it from the depths of losses into a profitable zone.

Despite Iovance's potential, it has yet to become a household name. Currently valued at around $1 billion, it remains under the radar for many investors, further compounded by its ongoing lack of profitability.

As Iovance enters what many analysts describe as a decade of extraordinary growth, investors may find the stock's recent downturn to be an attractive buying opportunity. The question arises: If Iovance's expertise in immunotherapy is as promising as it appears, why has the stock plummeted to multiyear lows, dropping over 90% from its peak in early 2021?

The answer lies in the ebbs and flows of market sentiment. The stock's decline can primarily be traced back to the exuberant enthusiasm surrounding its earlier performance in 2019 and 2020, when the potential approval of Amtagvi seemed imminent. This excitement reached a crescendo when the FDA granted the drug breakthrough therapy designation for cervical cancer, which expedites the regulatory process for promising new treatments.

However, as the initial euphoria began to wane, the stock's value adjusted to reflect more realistic expectations concerning the timing and extent of commercialization. This correction has led to a protracted downturn since 2021, as market sentiment shifted from optimism to skepticism.

Yet, there are signs that the worst might be over. Although Iovance's stock remains near multiyear lows, sellers appear to be retreating, indicating that the stock may have found a bottom. Importantly, analysts are not deterred; many have rated Iovance shares as a strong buy. The consensus price target of $20.55 suggests an impressive upside potential of over 500% from current levels, making it an intriguing prospect for long-term investors.

Before making any investment decisions regarding Iovance Biotherapeutics, prospective investors should also consider alternative opportunities. The Motley Fool's Stock Advisor team recently identified ten stocks they believe are the best to buy now, and Iovance Biotherapeutics was not included. Investors are reminded that historical performance from the likes of Netflix and Nvidia exemplifies how early investment in the right stocks can yield extraordinary returns.

Ultimately, while Iovance Biotherapeutics may currently be flying under the radar, its pioneering work in immunotherapy could position it as a major player in the oncology market in the years to come. The time for investors to pay attention could very well be now.