Could Iovance Biotherapeutics Stock Help You Become a Millionaire?
Iovance Biotherapeutics (NASDAQ: IOVA) has been one of the hottest healthcare stocks in 2024. It has already doubled in value and investors are hopeful that there could still be more upside left for the shares now that regulators have approved one of its treatments. Does this stock have the potential to be a millionaire-making investment?
On Feb. 16, the Food and Drug Administration (FDA) granted approval for Amtagvi, which is a cell therapy for unresectable or metastatic melanoma. It is the first T-cell therapy that regulators have approved as a treatment for a solid tumor. Analysts believe Amtagvi's sales could top $846 million by 2029 and it could potentially become a blockbuster drug the following year.
That's a big development for Iovance, which up until now didn't have any approved products. Now the company can begin with the rollout and commercialization of the drug. While that will bring with it additional costs, Iovance will finally generate consistent revenue and be able to grow its top line.
Source Fool.com
