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IovanceBiotherapeutics Inc. (NASDAQ: IOVA) stock plunged in the premarket trading session; here’s why

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In the premarket trading session, IovanceBiotherapeutics Inc. (IOVA stock) had tumbled down to $25.42 making it a loss of-5.61% at last check of trading session. IOVA stock previously closed the session on Tuesday with a loss of -0.37% at $26.93. The IOVA stock previously traded on an average daily volume of 4.25 million for past 50 days however the current volume remained 2.68 million shares. In the past year up to date, IOVA stock had shed by -1.97% and had moved in the past week by 8.46%. In the past three and six month, the IOVA stock has shed -8.15%, and -45.65% respectively.

Here’s what you need to know about IovanceBiotherapeutics Inc.

IovanceBiotherapeutics Inc. is a clinical stage biotech company that focuses on the development and marketing of therapy and treatment that are novel and unique in nature to tackle the unmet need of the patients and healthcare workers. The therapy and treatment production platform on which the company basis its operations is specifically created for the commercialization of cancer immunotherapy products. The immune therapy products can help amplify patient’s immune system to get rid of cancer cells. The company has many investigational candidates programs in the pipeline, the lead product of which includes C-144-01 for treatment of metastatic melanoma and is currently ongoing for phase 2 clinical studies. Lifileucel C-144-04 is also a treatment for the persistent cervical cancer or recurrent, metastatic cervical cancer. The C-145-03 LN-145 product candidate is being tested for head and neck squamous cell carcinoma which is in metastatic or recurrent state. IovanceBiotherapeutics Inc. has strategic partnerships and benefits with various kinds of healthcare firms and biotech industries like having licensing agreement with H. Lee Moffitt cancer Center and collaboration agreements which include, Centre Hospitalier de I’Universite de Montreal, Novartis Pharma AG, Cellectis S.A., M.D Anderson Cancer Center and Ohio State University.

The company was previously known as Lion Biotechnologies Inc. until June 2017 and was originated in 2007 with headquarter in San Carlos, California.

The company has shown significant results for its clinical data of

The company has overall shown promising results for the clinical data of its LN-145 therapy program which is a Tumor Infiltrating Lymphocyte (TIL) therapy specifically designed for patients with metastatic non-small cell lung cancer. These patients were selected and enrolled in the Cohort 3B of the ongoing basket study IOV-COM-202.

The Overall Response Rate has shown that there is a significantly promising initial data for LN-145 for this rare patient population’s treatment. This patient population is urgently requiring a treatment to prolong survival in the second line non-small cell lung cancer treatment setting. The ORR was 21.4% and that rate at which the disease was controlled is known as DCR measured with a value of 64.3% for LN-145. The adverse effects observed by the administration of LN-145 dose showed that it was well within the limits of expected and consistent adverse event profile of non-myeloablative lymphodepletion and IL-2. The patients for this test were all given chemo therapy.IOVA stock claimed that further data will be extracted and demonstrated in the second half of 2021 at a medical meeting.

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