IOVA - Iovance Biotherapeutics proposes $150M stock offering shares fall 9% after hours

2023-07-10 17:03:22 ET

• Iovance Biotherapeutics ( NASDAQ: IOVA ) on Monday announced a proposed stock offering of up to $150M.
• Shares of IOVA fell 9% to $8 after hours.
• "All of the shares in the offering are to be sold by Iovance ( IOVA )," the company said in a statement .
• IOVA is planning to use the proceeds from the offering for several purposes, including to fund the commercial launch of lifileucel and to prepare its manufacturing facility in Philadelphia.
• Earlier in the day, IOVA said the design for its ongoing IOV-LUN-202 trial for lung cancer candidate LN-145 could be acceptable for a potential accelerated approval.

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