IOVA - Is It Too Late to Buy Iovance Biotherapeutics Stock?
2024-06-28 04:05:00 ET
Earlier this year, share prices of Iovance Biotherapeutics (NASDAQ: IOVA) were soaring after one of its therapies obtained approval from regulators. Iovance stock would go on to reach share price highs of more than $18. Today, however, the stock trades at less than half that price. And in just three months, it has fallen by more than 40% as the hype surrounding the business appears to have evaporated.
Is it too late to invest in Iovance, or could the best be yet to come for this promising healthcare company ?
On Feb. 16, the Food and Drug Administration (FDA) granted accelerated approval for Iovance's cell therapy treatment, Amtagvi (lifileucel), to treat advanced melanoma. It marked the first time regulators approved a one-time individualized T-cell therapy for treating a solid tumor cancer. The following day, the stock would jump by more than 31% and within two weeks reach its 52-week high of $18.33.
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Is It Too Late to Buy Iovance Biotherapeutics Stock?