IOVA - Is Iovance a Buy After Its First Regulatory Win?
2024-02-25 05:01:00 ET
Iovance Biotherapeutics (NASDAQ: IOVA) just reached a huge milestone -- and investors have flocked to the stock, helping it to soar more than 70% in less than a week.
What's the big news? The biotech company scored its first regulatory approval, from the U.S. Food and Drug Administration, for a treatment based on its cutting-edge personalized medicine technology. Amtagvi, developed under the name lifileucel, was granted accelerated approval for advanced melanoma, the deadliest form of skin cancer, and now Iovance is readying to roll out this treatment.
This is great news, but considering the stock's recent gain you may be wondering whether the news is pretty much priced in -- or is Iovance still a buy after this regulatory win? Let's dig deeper and find out.
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Is Iovance a Buy After Its First Regulatory Win?