Iovance rises as FDA lifts partial clinical hold on lung cancer therapy trial

Iovance Biotherapeutics

04/03/2024 14:45

(Updates)
    ** Shares of Iovance Biotherapeutics  IOVA.O  up 6.6% at
about $18 
    ** U.S. FDA lifted a partial clinical hold placed on
registrational trial of its experimental cell therapy for a type
of lung cancer 
    ** The clinical hold was placed by the agency last year
nearing December end, after a patient death
    ** The therapy, called LN-145 TIL, uses white blood cells
from a patient's tumor, modifies them and puts them back into
the patient to help the immune system destroy cancer cells 
    ** In collaboration with the FDA and an independent data
monitoring committee, co said it developed additional safety
measures and monitoring
    ** Brokerage Jefferies says the update is an incremental
positive from a pipeline development and execution standpoint 
    ** IOVA expects to complete enrollment of about 120 patients
in the registrational cohorts in 2025
    ** "The lift on trial hold speaks to the confidence of the
FDA on a type of tumor derived immunotherapy, called TIL, after
recent approval for company's skin cancer cell therapy" -
Jefferies  
    ** Stock rose 27.2% in 2023 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))