TIL - Iovance gains over 10% with readthrough from Instil Bio's regulatory win

Iovance Biotherapeutics (IOVA +11.1%) is on track to end a three-day losing streak recording its biggest intraday gain since June after bullish remarks from Truist on the company’s melanoma candidate lifileucel. Early this week, Instil Bio (NASDAQ:TIL), Iovance’s (NASDAQ:IOVA) rival focused on cell therapies made from tumor-infiltrating lymphocytes (TIL), announced the FDA clearance for a clinical trial for ITIL-168 in patients with advanced melanoma. Based on the FDA acceptance of Instil Bio’s (TIL) potency assay plan, Truist analysts Asthika Goonewardene and Robyn Karnauskas form a favorable view on Iovance’s (IOVA) next steps in interactions with the FDA for lifileucel. “IOVA’s next attempts might appease the FDA,” they wrote, adding, “in which case we reiterate that at current levels, the stock offers an attractive risk/reward trade-off, with the potential for near- term gains.” The price target for Iovance could hover about $40 in an optimistic scenario or crash to $16 -

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Iovance gains over 10% with readthrough from Instil Bio’s regulatory win