Iovance Biotherapeutics, Inc. develops and commercializes novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer. Company news commonly addresses Amtagvi, described by Iovance as the first FDA-approved T cell therapy for a solid tumor indication, Proleukin, lifileucel, and pipeline work across solid tumor cancers.
Recurring updates include clinical data, regulatory disclosures, operating and financial results, corporate presentations, material agreements, and governance matters. Iovance also reports Nasdaq inducement equity grants under its Amended and Restated 2021 Inducement Plan as part of its public-company compensation disclosures.
Iovance Biotherapeutics announced its participation in two upcoming virtual conferences in June 2020. The company will present at the Goldman Sachs 41st Annual Global Healthcare Conference on June 11 at 3:00 p.m. ET and at the JMP Securities Hematology and Oncology Forum on June 18 at 2:20 p.m. ET. Live and archived webcasts will be accessible on the Iovance Investors website. Iovance focuses on T cell-based immunotherapies for treating solid tumors and blood cancers, including ongoing pivotal studies for metastatic melanoma and advanced cervical cancer.
Iovance Biotherapeutics has successfully closed a public offering of 19,475,806 shares at $31.00 per share, raising $603.7 million in gross proceeds. The company plans to utilize these funds for the potential commercial launch of lifileucel and LN-145 for advanced cancers, and to initiate registration for tumor infiltrating lymphocyte therapies in non-small cell lung cancer. The offering was conducted under a shelf registration statement that became effective on May 27, 2020.
Iovance Biotherapeutics announced a public offering of $500 million in common stock, all to be sold by the company. An additional 30-day option for underwriters to purchase up to $75 million of extra shares is also mentioned. Proceeds from the offering will support the potential commercial launch of lifileucel for advanced melanoma and LN-145 for cervical cancer, as well as ongoing clinical trials and general corporate purposes. The offering will utilize a shelf registration statement filed with the SEC.
Iovance Biotherapeutics (NASDAQ: IOVA) announced new interim data from Cohort 2 of the C-144-01 study of lifileucel for advanced melanoma, to be presented at ASCO 2020. As of February 2020, the median duration of response (DOR) remains unmeasured at a median follow-up of 17 months, with an overall response rate of 36.4% from 66 patients. The adverse event profile aligns with advanced disease and treatment regimens. The presentation will provide further insights into the durable effects of TIL therapy in heavily pretreated patients. Future updates are anticipated following the ASCO event.
Iovance Biotherapeutics (NASDAQ: IOVA) reported Q1 2020 results, posting a net loss of $69.6 million, or $0.55 per share, up from a net loss of $37.0 million, or $0.30 per share in Q1 2019. R&D expenses surged to $57.0 million due to increased clinical trials and licensing costs. The company held $251.2 million in cash at March 31, 2020. Iovance remains committed to commercializing TIL therapies for melanoma and cervical cancer, with pivotal study enrollments progressing ahead of schedule, and plans for a BLA submission in late 2020.
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