Iovance Biotherapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Iovance (NASDAQ: IOVA) approved inducement stock options covering 3,600 shares for two new non-executive employees on February 19, 2026. Each option has an exercise price of $2.85 and vests over three years with time-based quarterly installments.

The awards were granted under Iovance’s Amended and Restated 2021 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

Key Figures

Inducement options granted: 3,600 shares New employees: 2 Option exercise price: $2.85 +5 more

8 metrics

Inducement options granted 3,600 shares Aggregate options to two new non-executive employees

New employees 2 Recipients of inducement stock options

Option exercise price $2.85 Closing price on February 19, 2026 (Date of Grant)

Plan adoption date September 22, 2021 Original adoption of 2021 Inducement Plan

Plan amendments 4 amendments Amended on Jan 12 2022; Mar 13 2023; Feb 26 2024; Nov 22 2024

Vesting period 3 years One-third at first anniversary, then eight quarterly installments

Initial vesting One-third Vests on first anniversary of employee start date

Remaining installments 8 quarterly Over the two years following the first vesting date

Market Reality Check

Price: $2.88 Vol: Volume 9,064,297 is sligh...

normal vol

$2.88 Last Close

Volume Volume 9,064,297 is slightly below the 20-day average of 9,618,583 (relative volume 0.94x). normal

Technical Price $2.88 is trading above the 200-day moving average at $2.31.

Peers on Argus

IOVA was down 1.08% while close peers were mixed: SANA (-1.96%), IMNM (-2.01%), ...

2 Up

IOVA was down 1.08% while close peers were mixed: SANA (-1.96%), IMNM (-2.01%), NKTR (-0.27%), URGN (-2.0%), and EYPT up 5.14%. Momentum scanner showed other biotech names (ZBIO, ABUS) moving up, but IOVA’s own momentum direction was not specified.

Historical Context

5 past events · Latest: Feb 11 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 11	Earnings call scheduling	Neutral	+0.0%	Announced timing for Q4 and full-year 2025 results webcast.
Feb 05	Clinical data update	Positive	-3.3%	Reported strong real-world Amtagvi response and disease control rates.
Jan 16	Inducement option grants	Neutral	+3.4%	Granted 97,710 inducement options to 17 new employees.
Dec 19	Inducement option grants	Neutral	+12.1%	Granted 43,150 inducement options to four new employees.
Nov 21	Inducement option grants	Neutral	+11.6%	Granted 164,900 inducement options to 11 new employees.

Pattern Detected

News flow shows recurring inducement option grants with mixed price reactions; one positive clinical data update saw a negative price move, indicating occasional divergence between fundamentals and trading.

Recent Company History

Over the last few months, Iovance issued several routine updates. An upcoming earnings call for Q4 and full-year 2025 was scheduled for Feb 24, 2026. Clinical data on Amtagvi in advanced melanoma highlighted a 44% objective response rate and 73% disease control, yet the stock fell 3.28% afterward. Multiple inducement grant announcements on Nov 20, 2025, Dec 18, 2025, and Jan 15, 2026 covered option awards ranging from 43,150 to 164,900 shares, with 24-hour reactions from flat to double-digit gains.

Market Pulse Summary

This announcement details another small inducement grant under Iovance’s Amended and Restated 2021 I...

Analysis

This announcement details another small inducement grant under Iovance’s Amended and Restated 2021 Inducement Plan, covering 3,600 options to two new employees at a $2.85 exercise price and three-year vesting. Similar grants on Nov 20, 2025, Dec 18, 2025, and Jan 15, 2026 involved substantially larger share counts. Investors tracking dilution and compensation structure may focus on the cumulative impact of such awards relative to prior grants and overall outstanding shares.

Key Terms

inducement stock options, nasdaq listing rule 5635(c)(4), tumor infiltrating lymphocyte, equity awards

4 terms

inducement stock options financial

"approved the grant of inducement stock options covering an aggregate of 3,600 shares"

Inducement stock options are grants of the company’s stock rights given to recruit or retain a specific executive or employee, often as a signing bonus instead of cash. Investors care because these awards can increase the total shares outstanding and dilute existing ownership, alter future reported expenses, and signal how the company is paying for talent; think of them as a hiring incentive paid in future company pieces rather than immediate money.

nasdaq listing rule 5635(c)(4) regulatory

"in accordance with Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

tumor infiltrating lymphocyte medical

"delivering novel polyclonal tumor infiltrating lymphocyte (“TIL”) therapies for patients"

Tumor-infiltrating lymphocyte (TIL) is an immune cell found inside a tumor that can recognize and attack cancer cells; researchers can extract and multiply these patient-derived cells to use as a personalized therapy. Investors watch TILs because therapies built from them offer a targeted, individualized approach—like retraining a patient’s own soldiers to fight a specific enemy—which can influence clinical trial outcomes, regulatory decisions, and the commercial value of biotech companies.

equity awards financial

"provides for the granting of equity awards to new employees of Iovance"

Equity awards are payments to employees or directors made in the form of company stock or rights to buy stock later, serving as a way to share ownership rather than cash. For investors, they matter because they align staff incentives with company performance, can increase the number of shares outstanding over time (which can reduce each share’s claim on profits), and create compensation costs that affect reported earnings.

AI-generated analysis. Not financial advice.

SAN CARLOS, Calif., Feb. 20, 2026 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) ("Iovance" or the “Company”), a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (“TIL”) therapies for patients with cancer, today announced that on February 19, 2026 (the “Date of Grant”), the Company approved the grant of inducement stock options covering an aggregate of 3,600 shares of Iovance’s common stock to two new, non-executive employees.

The awards were granted under Iovance’s Amended and Restated 2021 Inducement Plan, which was adopted on September 22, 2021 and amended and restated on January 12, 2022, March 13, 2023, February 26, 2024, and November 22, 2024, and 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 as referenced in this press release has an exercise price of $2.85, the closing price of Iovance’s common stock on the Date of Grant. Each stock option vests over a three-year period, with one-third of the shares vesting on the first anniversary of the employee’s start date (the “First Vesting Date”) and the remaining shares vesting in eight quarterly installments over the next two years, commencing with the first quarter following the First Vesting Date, subject to continued employment with the Company through the applicable vesting dates.

About Iovance Biotherapeutics, Inc.

Iovance Biotherapeutics, Inc. aims to be the global leader in innovating, developing, and delivering tumor infiltrating lymphocyte (“TIL”) therapies for patients with cancer. We are pioneering a transformational approach to cure cancer by harnessing the human immune system’s ability to recognize and destroy diverse cancer cells in each patient. The Iovance TIL platform has demonstrated promising clinical data across multiple solid tumors. Iovance’s Amtagvi^® is the first FDA-approved T cell therapy for a solid tumor indication. We are committed to continuous innovation in cell therapy, including gene-edited cell therapy, that may extend and improve life for patients with cancer. 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.

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,” “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

Investors
IR@iovance.com
650-260-7120 ext. 150

Media
PR@iovance.com
650-260-7120 ext. 150

FAQ

What did Iovance (IOVA) announce about inducement grants on February 19, 2026?

Iovance granted inducement stock options totaling 3,600 shares to two new non-executive employees. According to the company, the options were approved on February 19, 2026 and priced at the closing share price of $2.85.

What is the exercise price and vesting schedule for IOVA inducement options?

Each option has an exercise price of $2.85 and vests over three years. According to the company, one-third vests on the first anniversary and the remainder vests quarterly over the next two years.

Which plan governs the Iovance inducement options granted on February 19, 2026?

The awards were granted under the Amended and Restated 2021 Inducement Plan. According to the company, the plan was adopted in 2021 and amended multiple times through 2024.

How many employees received inducement options in Iovance's February 2026 grant?

Two new, non-executive employees received inducement options totaling 3,600 shares. According to the company, the grants were approved on the Date of Grant, February 19, 2026.

Do Iovance inducement options require continued employment to vest?

Yes, vesting is contingent on continued employment through each vesting date. According to the company, options vest one-third after one year and then in eight quarterly installments thereafter.

Was Nasdaq Listing Rule 5635(c)(4) cited for Iovance's February 2026 grants?

Yes, the grants were made in accordance with Nasdaq Listing Rule 5635(c)(4). According to the company, the compensation committee approved the awards under that rule and the inducement plan.