IOVA

Iovance Biotherapeutics, Inc.

11.99
USD
3.63%
11.99
USD
3.63%
6.18 27.96
52 weeks
52 weeks

Mkt Cap 1.82B

Shares Out 152.16M

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Why Iovance Biotherapeutics Was Halved Today

What happened Shares of Iovance Biotherapeutics (NASDAQ: IOVA) are down 53% as of 12:24 p.m. ET Friday, according to data from S&P Global Market Intelligence, following the release of disappointing results from a pivotal melanoma drug trial released Thursday evening. So what It's potentially a bit confusing. Iovance had already reported solid results for melanoma treatment Lifileucel in the middle of last year, ultimately finding a response rate of 36%. That was for a different subset of patients, however. This follow-on study of cancer patients with advanced melanoma who had shown improvement after previously receiving and responding to anti-PD-1/L1 therapies isn't as encouraging, with an objective response rate of only 29%. In simpler terms, the drug may not work quite as well as it initially seemed it would. It should be noted, however, that the latter set of trial participants began their care with a "higher baseline disease burden in comparison to patients in Cohort 2" whom investors are using to make the comparison. Given the additional challenges at the onset, Iovance Biotherapeutics' management feels strongly enough about the newly posted results to proceed with plans to file a Biologics License Application with the FDA in August. Now what The apparent waning efficacy of Lifileucel is a concern, to be sure, though not necessarily one that merits Iovance's stock being cut in half. Lifileucel is proving effective for certain cancer patients. And while the drug features prominently in its pipeline, it's not the entirety of that pipeline, which currently features more than a dozen other trials. But Iovance still isn't a name inherently worth owning for all investors. Biotech and biopharma companies are risky and difficult to evaluate, particularly when they're not yet producing any revenue...which Iovance Biotherapeutics isn't. So it's not a great pick for most investors at any price. If it's a stock and story you've had your eye on for a while, though -- and if you understand the science and competitive potential of Lifileucel and the company's other R&D efforts -- the scope of this sell-off may be a bit too extreme for some speculators to pass up. 10 stocks we like better than Iovance Biotherapeutics, Inc. When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Iovance Biotherapeutics, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Iovance Biotherapeutics, Inc. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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