Why Iovance Biotherapeutics Stock Popped Today
Shares of Iovance Biotherapeutics (NASDAQ: IOVA) popped 18.7% on Thursday as investors assessed the fallout of a clinical hold placed on a cancer-therapy trial yesterday by the U.S. Food and Drug Administration (FDA).
Today's rebound nearly recouped an almost 20% drop yesterday for Iovance, which came on the heels of a U.S. Food and Drug Administration (FDA) decision to place a clinical hold on its IOV-LUN-202 clinical trial following a patient's death. The trial was evaluating Iovance's LN-145 TIL experimental therapy to treat non-small-cell lung cancer (NSCLC).
Iovance issued a press release explaining that the death was "potentially related to the non-myeloablative lymphodepletion pre-conditioning regimen" of the trial. At the same time, Iovance pointed out the dire need for therapies in cases such as these, noting that the patients in the trial "have a poor prognosis, limited treatment options, and a real-world overall survival of less than six months."
Source Fool.com
