Iovance Biotherapeutics Rocks Wall Street with Massive $150M Stock Offering!

Iovance Biotherapeutics, Inc. (Nasdaq: IOVA) announced the pricing of its initial public offering of 20,000,000 shares of common stock at $7.50 per share, for projected gross proceeds of $150 million. The offering is expected to close on or around July 13, 2023, and Iovance has granted the underwriters an option to purchase an additional 3,000,000 shares of common stock at the public offering price.

Investors now have the opportunity to join the Iovance innovation journey and participate in its exciting mission to develop transformative polyclonal tumor infiltrating lymphocyte-based therapies for cancer patients.

Iovance is poised to utilize the proceeds of this offering to fuel their commercial launch of lifileucel (if approved), including readying the Iovance Cell Therapy Center in Philadelphia to back their clinical programs such as the NSCLC registration-directed study and the frontline advanced melanoma Phase 3 confirmatory trial.

They also plan to expand the alliance of TIL and immune checkpoint inhibitors (“ICIs”) in ICI naïve patient cohorts, bolster the growth of their pipeline candidates, and sustain their Proleukin integration activities. Lastly, this offering will be utilized for additional general corporate purposes.

Goldman Sachs & Co. LLC and Jefferies LLC have teamed up to act as joint lead book-running managers for an upcoming offering, marking a strategic collaboration to bring the offering to market.

About Iovance Biotherapeutics, Inc.

Iovance Biotherapeutics is leading the way in curing cancer with their transformative approach of using tumor infiltrating lymphocytes (TILs). Their groundbreaking lead late-stage TIL product candidate, lifileucel for metastatic melanoma has become a promising potential for the first-ever approved one-time cell therapy for a solid tumor cancer.

Thanks to the Iovance TIL platform, the medical world has seen promising clinical data across multiple solid tumors. Knowing the impact this technology can have, Iovance continues to innovate in cell therapy – including gene-edited cell therapy – to give hope and extend lives for patients with cancer.

Leave a Comment