Iovance Biotherapeutics Appoints Noah Berkowitz, M.D., Ph.D., as Chief Medical Officer
The appointment includes equity awards covering up to 450,000 common shares, with vesting tied to continued employment.
Sentiment and the balance of points
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Rhea-AI Summary
Iovance Biotherapeutics (IOVA) appointed Noah Berkowitz as Chief Medical Officer, effective September 30, 2026, as it prepares for development and regulatory milestones.
Berkowitz previously served as Chief Medical Officer at Arvinas Pharmaceuticals and led hematology development at Bristol Myers Squibb, where his teams achieved approvals for the cell therapies Abecma and Breyanzi.
In connection with the appointment, Iovance granted stock options and restricted stock units covering up to 450,000 common shares on September 30, 2026. Options have a $14.82 exercise price. Awards vest over three years: one-third on the first anniversary of his start date, then eight quarterly installments. Certain restricted stock units may instead vest upon specified regulatory milestones. Vesting requires continued employment through the applicable dates.
Positive
- None.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.Inducement options and restricted stock units covering up to 450,000 shares create potential dilution; options exercise at $14.82.
Key Figures
- Inducement awards
- Up to 450,000 shares
- Stock options and restricted stock units granted to the incoming CMO
- Option exercise price
- $14.82
- Equal to Iovance's closing share price on the grant date
- Vesting period
- 3 years
- One-third vests on the first anniversary; remaining shares vest in eight quarterly installments
Historical Context
-
Same-plan options covered 179,750 shares for 18 new non-executive employees.
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Earlier same-plan options covered 240,135 shares for 20 new non-executive employees.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
tumor infiltrating lymphocyte medical
chimeric antigen receptor medical
restricted stock units financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Leader in Global Drug Development of T Cell Therapies
PHILADELPHIA, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a commercial biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer, today announced the appointment of Noah Berkowitz, M.D., Ph.D., as Chief Medical Officer (CMO), effective September 30, 2026.
“We are pleased to welcome Noah to Iovance as we prepare for important development and regulatory milestones for our TIL platform across multiple solid tumor cancers,” said Frederick Vogt, Ph.D., J.D., Interim President and Chief Executive Officer. “Noah brings deep experience in global drug development that has led to regulatory approvals across cancer, blood disorders, and cell therapy. His track record will be instrumental as we work to bring TIL therapy to many more patients in new markets, earlier treatment settings, and additional solid tumor cancers.”
As Chief Medical Officer of Arvinas Pharmaceuticals, Dr. Berkowitz led the clinical strategy that resulted in the first-ever U.S. Food and Drug Administration (FDA) approval of a targeted protein degradation therapy and expanded the company’s clinical programs across cancer, neurological, and rare diseases. Previously, Dr. Berkowitz served as Senior Vice President and Therapeutic Area Head, Hematology at Bristol Myers Squibb, where he oversaw the full scope of drug development for the company’s benign and malignant hematology programs and, on an interim basis, its cell therapy programs. His global development teams achieved regulatory approvals for the chimeric antigen receptor (CAR) T cell therapies Abecma and Breyanzi, two of the first cell therapies approved for multiple myeloma and large B cell lymphoma, respectively. Clinical programs under his leadership helped drive recent annual sales of Reblozyl above
“I am excited to join Iovance at this critical inflection point to explore broader applications for TIL technology in new indications and treatment settings,” stated Dr. Berkowitz. “The Iovance TIL platform demonstrates remarkable clinical results and represents the new frontier across solid tumors, including next-generation approaches. I look forward to contributing to the Iovance vision to expand the reach of this transformative treatment to patients who need it most.”
In connection with Dr. Berkowitz’s appointment, Iovance approved the grant of inducement stock options and restricted stock units covering an aggregate of up to 450,000 shares of Iovance’s common stock to Dr. Berkowitz. The awards were granted on September 30, 2026 (the date of grant), under Iovance’s Amended and Restated 2021 Inducement Plan, which provides for the granting of equity awards to new employees of Iovance by the Company’s compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options granted has an exercise price of
About Iovance Biotherapeutics, Inc.
Iovance Biotherapeutics, Inc. is the global leader in innovating, developing, and delivering tumor infiltrating lymphocyte (TIL) cell therapies for patients with solid tumors. Amtagvi® (lifileucel) is the first FDA-approved, one-time treatment for previously treated advanced melanoma, now approved in three global markets and available at nearly 100 authorized treatment centers (ATCs). The Iovance TIL platform spans registrational trials and next-generation programs in additional solid tumors, including gene-edited and IL-12 tethered TIL therapies, next-generation IL-2, and precision immuno-oncology approaches. As the first and only company to take TIL therapy from concept to a broadly accessible commercial treatment, Iovance operates as an end-to-end cell therapy company, anchored by fully owned, centralized U.S.-based manufacturing that is scaled to serve thousands of cancer patients worldwide each year. Headquartered in Pennsylvania with offices and laboratories in California and Florida, Iovance serves patients at ATCs and clinical sites across almost the entire U.S. and in many countries around the world. For more information, please visit www.iovance.com.
Amtagvi® and its accompanying design marks, Proleukin®, Iovance®, and IovanceCares™ are trademarks and registered trademarks of Iovance Biotherapeutics, Inc. or its subsidiaries. All other trademarks and registered trademarks are the property of their respective owners.
Information on Iovance’s broad, industry-leading patent portfolio is available on the Intellectual Property page on www.iovance.com.
Forward-Looking Statements
Certain matters discussed in this press release are “forward-looking statements” of Iovance Biotherapeutics, Inc. (hereinafter referred to as the “Company,” “we,” “us,” or “our”) within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Without limiting the foregoing, we may, in some cases, use terms such as “predicts,” “believes,” “potential,” “achievable,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “forecast,” “guidance,” “outlook,” “may,” “can,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments, and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements, and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
CONTACTS
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FAQ
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Who is Iovance's new Chief Medical Officer, and when did the appointment take effect?
Noah Berkowitz became Iovance's Chief Medical Officer effective September 30, 2026. He previously served as Chief Medical Officer at Arvinas Pharmaceuticals and as Senior Vice President and Therapeutic Area Head, Hematology at Bristol Myers Squibb.
What equity awards did Iovance grant its new Chief Medical Officer?
Iovance granted Noah Berkowitz stock options and restricted stock units covering up to 450,000 common shares on September 30, 2026. The options have an exercise price of $14.82, the closing share price on the grant date. Vesting is subject to continued employment, and certain restricted stock units may vest upon specified regulatory milestones.