Iovance Shares Surge Following Strategic Business Review

Iovance Biotherapeutics shares experienced a dramatic rally on Friday, closing the trading session with a substantial 13% gain at $2.49. This significant upward movement was triggered by management’s strategic presentation at the Wells Fargo 20th Annual Healthcare Conference, where revised revenue projections and a new cost-saving initiative took center stage.

During Friday morning’s investor presentation, the company adjusted its full-year revenue guidance to a range of $250 to $300 million. This revised forecast represents a more realistic assessment of market penetration for Amtagvi, the company’s melanoma treatment. The updated projections acknowledge both the challenges and opportunities in the product’s commercialization phase.

Concurrently, Iovance unveiled a comprehensive restructuring strategy designed to generate approximately $100 million in cost savings Read more...