IOVA - The Case for Buying Iovance Biotherapeutics Stock Just Got Even Better. Here's Why
2024-06-10 10:15:00 ET
It's always a nice surprise to see that a company you're invested in is making good on its opportunities and planning to grow on your behalf. In that vein, at the 2024 meeting of the American Society of Clinical Oncology (ASCO) on May 31, Iovance Biotherapeutics (NASDAQ: IOVA) offered some news that should please its shareholders and perhaps motivate them to buy more of the stock in the near term.
To appreciate what it disclosed and why it matters, let's start by putting the new findings into the appropriate context.
Iovance currently has one medicine on the market, which was approved in late February 2024. It's a cell therapy called Amtagvi that's indicated to treat unresectable or metastatic melanoma in people who have already been treated with an antibody against the PD-1 receptor. As it just launched, there hasn't been time for it to generate any revenue yet, though more than 100 patients are enrolled for treatment, so it's only a matter of time.
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The Case for Buying Iovance Biotherapeutics Stock Just Got Even Better. Here's Why