The market is on the move, and this time stocks took off on an upward trajectory. On Wednesday April 29, all three of the major U.S. stock indexes posted gains at the closing bell, climbing higher on encouraging data from the government trial for Gilead Sciences’ COVID-19 treatment, remdesivir. The antiviral therapy met its primary endpoint, and while there’s still a long way to go until it could be available for use, it’s exciting progress. Stocks were also helped by the Federal Reserve’s statement that it will keep rates close to zero for as long as it takes and provide the economy with additional help.However, it should be noted that this surge came as investors brushed off weak U.S. gross domestic product, with the figure’s first quarter decline bigger than expected and marking the largest contraction of economic activity since the financial crisis.So, is it still possible to find stocks going up, up and away? Wall Street pros say yes. They argue that in spite of COVID-19's impact on the broader market, several healthcare names are undervalued as they have held up strong and are set to deliver even more returns in the long run.Heeding this advice, we used TipRanks’ database to zero in on three healthcare stocks that are poised to rip higher and handsomely reward investors over the long-term. Not only have all of the tickers amassed enough bullish calls from analysts to be given “Strong Buy” consensus ratings, but each could also see substantial share price appreciation in the next year. Here’s the lowdown.Fate Therapeutics (FATE)Fate Therapeutics is at the forefront of the cellular immunotherapy space, with it taking healthy donor cells, which are then modified ex vivo using pharmacologic modulators, to improve the cells’ biological properties and therapeutic function. Despite already rising 48% year-to-date, several analysts believe its growth story is only just beginning.Part of the excitement surrounding this name is related to its collaboration with Janssen to develop iPSC NK and T-cell therapies against four tumor-associated antigens. As per the terms of the agreement, FATE will be paid $50 million in cash up front and receive a $50 million equity investment. In addition, FATE is eligible for as much as $1.8 billion in developmental and regulatory milestones and $1.2 billion in commercial milestones, with $898 million applying to the first candidate.Only when the company gets reimbursed for preclinical development going as far as the IND filing will Janssen get an exclusive option to assume development and commercialization. It should also be noted that FATE will have an option for U.S. co-commercialization or mid-teen royalties when proof-of-concept data is available for each candidate.Weighing in for Piper Sandler, five-star analyst Edward Tenthoff also sees potential stemming from its FT596 asset. “Encouragingly, the first patient was dosed with FT596 in a Phase I study of B-cell malignancies and chronic lymphocytic leukemia... We could see first-ever data at ASH in December pending enrollment impact with respect to COVID-19,” he wrote.To top it all off, Tenthoff thinks there are additional potential catalysts that could be capable of catapulting shares. FATE is focusing FT500 on non-small-cell lung carcinoma (NSCLC) with stable disease in 4/8 monotherapy and 2/3 CPI combo patients initially and data for its FT516 candidate in AML and B-cell lymphoma could be released in December.While management stated that COVID-19 could affect clinical trial enrollment, Tenthoff points out that FATE remains on-course to file INDs for FT538 and FT819. To this end, he stayed with the bulls, reiterating an Overweight rating. He also bumped up the price target from $57 to $63, implying 117% upside potential. (To watch Tenthoff’s track record, click here)Meanwhile, the rest of the Street also likes what it’s seeing. 11 Buys and a single Hold add up to a Strong Buy consensus rating. At $39.08, the average price target puts the upside potential at 35%. (See Fate Therapeutics stock analysis on TipRanks)Cytokinetics Inc. (CYTK)Using its differentiated muscle biology platform, Cytokinetics develops therapies for cardiac and skeletal muscle diseases. Since the start of 2020, shares have climbed 53% higher, and market watchers want to know if there’s more fuel left in the tank.Cantor Fitzgerald’s Charles Duncan says yes. The five-star analyst tells investors that ahead of the Phase 3 GALACTIC-HF readout for its Omecamtiv mecarbil (ome’) drug in heart failure, he sees a significant opportunity, with the “binary and potentially transformational milestone” potentially coming earlier than he expected in Q4 2020.Expounding on this, Duncan stated, “Additionally, we believe that the probability of success (PoS) for GALACTIC-HF, which is being conducted by partner Amgen, is underappreciated and that current powering assumptions provide a degree of ‘immunity’ against potential confounding results with CV-driven death/hospitalizations due to COVID-19... To us, robust powering suggests that a risk-mitigating buffer is in place if the pandemic drives missing data or adjudicated events that reduce the number of patients used in per-protocol primary or secondary efficacy analysis. In addition, we note that the FDA recently issued guidance on clinical trial conduct, including amended data management and/or statistical analysis plans, protocol-specified clinical visits and method of drug/pbo distribution, which can further mitigate COVID-19 risk.”Speaking to the trial’s design, Duncan is also optimistic when comparing it to two other heart failure studies, the VICTORIA-HF trial for vericiguat and PARADIGM-HF trial for ENTRESTO. “We believe that the GALACTIC-HF study has enrolled an at-risk population that falls between the two other studies, which will facilitate a clear signal-to-noise readout and clinical interpretation, in our view. We believe that this factor, in combination with the nuanced patient inclusion/exclusion criteria, including NT-proBNP cutoff specifically for pts with atrial fibrillation/flutter and systolic blood pressure cutoffs among others, increases the PoS for this study, which we believe should enhance PoS for a positive readout,” he commented.Both the study’s design and overall patient population prompted Duncan to increase the PoS, and thus the price target also gets a boost. In addition to his Overweight call, he lifted the target from $12 to $23, suggesting 41% upside potential. (To watch Duncan’s track record, click here)Looking at the consensus breakdown, the stock has earned 100% Street support, or 4 Buy ratings to be exact. Therefore, the message is clear: CYTK is a Strong Buy. Based on the $25.50 average price target, shares could rise 57% in the next year. (See Cytokinetics stock analysis on TipRanks)Iovance Biotherapeutics (IOVA)Fighting the good fight against cancer, Iovance is developing transformative immuno-oncology tumor-infiltrating lymphocytes (TIL) therapies that harness a patient's own immune system. Up 21% year-to-date, several members of the Street think that IOVA’s future is only going to get brighter.Writing for H.C. Wainwright, five-star analyst Joseph Pantginis points to the Moffitt study results as renewing his confidence. On April 28, Moffitt Cancer Center, IOVA’s partner, provided an updated glimpse at the Phase 1 trial evaluating TILs plus nivolumab in CKI-naïve metastatic NSCLC patients. Delivering strong results, efficacy was seen in 25% of patients, with the therapy demonstrating two complete responses (CRs). Additionally, ongoing clinical responses were witnessed in half of patients and one active response is pending.The outcome gets even better. “Although TIL clonotype persistence declines with time in the blood of these patients, persistent and stable levels of infused T cells associated with higher tumor killing and response. Thus, we believe that methods to enrich for these TIL populations, such as Iovance’s next generation TILs could be critical to drive better clinical responses,” Pantginis said. It should also be noted that TILs were capable of spurring an immune response against several cancer clones, which could produce better clinical outcomes.Even though some investors expected data from a larger number of patients with a longer follow-up date, Pantginis argues that the results should be viewed as encouraging. He added, “We remind investors that metastatic NSCLC is not an easy indication: (1) most patients rapidly progress; and (2) low activity of CKI. Thus, achieving a DCR of 50% is still meaningful, in our belief. More importantly, the study is ongoing with 8 clinical responses underway.”It should come as no surprise, then, that Pantginis left a Buy recommendation on the stock. Along with his bullish call, he attached a new $48 price target, up from $36. Should this target be met, a twelve-month gain of 44% could be in store. (To watch Pantginis’ track record, click here)Turning now to the rest of the Street, other analysts have also been impressed with IOVA. Only Buy ratings have been assigned, 9 in the last three months. As a result, the healthcare name gets a unanimous Strong Buy consensus rating. With a $47 average price target, the upside potential comes in just below Pantginis’ forecast at 41%. (See Iovance stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Potential suitors looking to expand their work in cancer likely covet company's technology Continue reading...
Iovance's (IOVA) first-quarter loss wider than estimated. The company progressing well with its lead pipeline candidates.
Cell therapy company Iovance Biotherapeutics Inc. has talked with potential buyers, Bloomberg reported Tuesday, sending the San Carlos company's stock soaring 40% higher. Among the possible buyers, one analyst told Bloomberg, are Foster City-based Gilead Sciences Inc. (NASDAQ: GILD) — where Iovance (NASDAQ: IOVA) CEO Maria Fardis previously worked — and Japanese company Takeda Pharmaceutical Co. No decision has been made on whether Iovance will remain independent, Bloomberg reported. Both Gilead and Takeda are oft-mentioned companies in buyout talks — Gilead has a $25 billion war chest and a growing cell therapy portfolio, and Takeda has partnered with several Bay Area drug developers.
Iovance Biotherapeutics aims to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers. The company has completed dosing in the pivotal study in patients with metastatic melanoma and is currently conducting a pivotal study in patients with advanced cervical cancer. In addition, the company’s TIL therapy is being investigated for the treatment of patients with locally advanced, recurrent or metastatic cancers including head and neck and non-small cell lung cancer.
Investors need to pay close attention to Iovance Biotherapeutics (IOVA) stock based on the movements in the options market lately.
As the month of May kicked off, stocks got off to a rocky start. The market slumped in response to a first quarter profit miss from eCommerce giant Amazon (NASDAQ:AMZN) and its plan to put all second-quarter earnings towards its COVID-19 response, with all three of the major U.S. indexes landing in the red on the week's final day of trading. Aside from healthcare stocks, many also came under pressure as tensions between the U.S. and China flared after the Trump administration stated that China will be held accountable for COVID-19. May 1's disappointing trading session came on the heels of the largest monthly surge for Wall Street in more than three decades. However, that's not to say investors should hold off on all new additions to their portfolios. The investing pros note that it's still possible to unmask the names poised to take off on an upward trajectory, you just have to know what to look for. This is especially true of the healthcare space, which has managed to hold up significantly better than other industries. Advising careful due diligence, they recommend focusing on healthcare stocks the analyst community as a whole believes have healthy long-term growth prospects. InvestorPlace - Stock Market News, Stock Advice & Trading TipsOnce we knew what to watch out for, we used TipRanks' database to pinpoint seven compelling healthcare stocks: * Ascendis Pharma A/S (NASDAQ:ASND) * Argenx SE (NASDAQ:ARGX) * Amicus Therapeutics, Inc. (NASDAQ:FOLD) * Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) * Natera, Inc. (NASDAQ:NTRA) * United Therapeutics Corporation (NASDAQ:UTHR) * Axsome Therapeutics Inc. (NASDAQ:AXSM) * 10 Key Stocks to Watch Over the Next Few Months Each of these healthcare stocks is backed by several analysts, enough to earn a "strong buy" consensus rating. Not to mention some pretty impressive upside potential is on the table. Let's dive right in. Ascendis Pharma (ASND) Source: Shutterstock The first of our healthcare stocks to buy is Ascendis Pharma. Using its cutting-edge TransCon technology, Ascendis optimizes the dosing capabilities of products that are already on the market. Following a recent Phase 2 data readout, several members of the Street are even more excited about this stock's long-term growth prospects. Writing for Oppenheimer, analyst Leland Gershell argues that the results clearly demonstrate TransCon PTH has the potential to be a "true replacement therapy in patients with hypoparathyroidism." In the 21µg/day arm, which was the highest dose, nine out of 15 patients met each of the primary and secondary composite endpoints. All patients were able to eliminate the standard of care (SOC). Adding to the good news, there was a positive effect on renal calcium resorption. Gershell added, "No severe or serious adverse events were recorded, nor was any hypocalcemia during titration off SOC. Hypercalcemia was observed in 2/15 (13%) in 21µg/day cohort w/o clinical sequelae. We would expect dose tailoring on an individual basis, as would occur in practice vs. trial's fixed dosing, to be supportive to safety." Looking forward to the initiation of Phase 3 in the fourth quarter, Gershell sees a large market opportunity, with the worldwide target market coming in at 200,000 and at 70,000-112,000 for the U.S. Taking all of this into consideration, Gershell decided to stay on the bulls' side. Along with his "outperform" call, he also bumped up the price target to $219, implying 71% upside potential. Out of nine total ratings, 100% were bullish, making ASND's Street consensus a "strong buy." See the ASND stock analysis. Argenx SE (ARGX) Source: Shutterstock When it comes to Argenx, there is certainly some overhang. Cowen analyst Yaron Werber points out that full year 2019 was solid for ARGX, but there's more to the story. Several competing FcRn-targeting drugs in the MG space, including Immunovant's IMVT-1401 and Momenta's M281, have upcoming data readouts. These candidates appear to be well-tolerated and have previously shown upwards of 70-80%+ knockdown of IgG. However, the Cowen analyst believes ARGX's lead candidate, efgartigimod, can go head-to-head with these other therapies. "We believe that ARGX's efgartigimod has a potentially best-in-class profile with a first mover advantage across several indications (MG, ITP, PV and CIDP) while offering both IV and SQ formulations. Efgartigimod is eying lucrative multi-billion dollar markets. Our peak $2.3 billion in sales is based on a peak 30% share in MG and ITP with a 75% probability of success. Approval in both segments offers attractive upside before even considering the potential in other indications," Werber commented. As autoimmune disorders like MG, ITP, PV and CIDP still have unmet needs because the current available options like steroids and immunosuppressants have poor tolerability and IVIg is expensive, inconvenient, and faces capacity constraints, favorable Phase 3 MG data in mid-2020 and the BLA filing in MG in Q4 2020 could drive substantial upside in 2020. To this end, Werber left an "outperform" rating and $191 price target on the stock. Should this target be met, a twelve-month gain of 31% could be in store. * 7 A-Rated REITs to Buy Now Does the rest of the Street think ARGX can outperform in the long run? As it turns out, other analysts say yes. Six "buys" compared to no "holds" or "sells" assigned in the last three months add up to a "strong buy" consensus rating. At $194.36, the average price target puts the upside potential at 34%. See the ARGX stock analysis. Amicus Therapeutics (FOLD) Source: Shutterstock Amicus Therapeutics specializes in developing better therapies to help patients suffering from ultra-orphan diseases, including lysosomal storage disorders (LSDs). As one of its lead programs has already been well received post-launch, one analyst believes the healthcare company's future is only getting brighter. Its oral pharmaco-chaperone drug, Galafold, for Fabry, generated hefty sales of $55.3 million in Q4 2019. Not only did this top-line number beat the Street's $49.7 million call, but it also surpassed Cowen analyst Ritu Baral's $50.5 million estimate. Not to mention this result represents 13% quarter-over-quarter growth. Even though FOLD had a net loss of $91 million during the quarter and SG&A expense gained 9% quarter-over-quarter, it should be noted that this was in part caused by the expanded geographic scope of the launch of Galafold into Japan and the U.S. Baral added, "FOLD projects YE20 Galafold sales of $250-$260 million that would represent 37-43% year-over-year growth. Projected growth assumes maturing uptake in the EU top 5 countries (market share changing from ERT-switch to ERT-naive) and continued rapid uptake in US and non-top 5 EU countries. FOLD expects to see commercial sales from Latin American countries in 2021 to further drive topline growth." To top it all off, GTx pipeline development is continuing. CLN6 follow-up and initial CLN3 data are both slated for the second half of 2020. It should come as no surprise, then, that Baral kept an "outperform" call and $31 price target on the stock. This conveys her confidence in FOLD's ability to soar 174% in the next year. As for the rest of the Street, other analysts are in agreement. With three "buys" and one "hold," the word on the Street is that the healthcare name is a "strong buy." Based on the $21.17 average price target, shares could climb 87% higher in the next twelve months. See the FOLD stock analysis. Iovance Biotherapeutics (IOVA) Source: Shutterstock Next up on this list of healthcare stocks to buy is Iovance Biotheraputics. With the goal of stomping out cancer, Iovance develops transformative immuno-oncology tumor-infiltrating lymphocytes (TIL) therapies that use the power of a patient's own immune system. After its collaborator, Moffitt Cancer Center, provided an update on the Phase 1 testing of TILs plus nivolumab in CKI-naive metastatic non-small-cell lung carcinoma (NSCLC) patients, the stock is on Wall Street's radar. In order to be eligible, patients needed to be anti-PD-1 naive and at least one safely accessible metastasis from where TILs were isolated had to be present. Looking at the data, the therapy was effective in 25% of patients, with two complete responses recorded. On top of this, the key analysis indicates that in order to spur a clinical response, TILs need to survive and circulate systematically. Further explaining this, H.C. Wainwright's Joseph Pantginis noted, "Importantly, the authors also demonstrated that neoantigen positive T cells represented 21% of total TIL clonotypes. Although TIL clonotype persistence declines with time in the blood of these patients, persistent and stable levels of infused T cells associated with higher tumor killing and response. Thus, we believe that methods to enrich for these TIL populations, such as Iovance's next generation TILs could be critical to drive better clinical responses." As NSCLC is a notoriously difficult indication to address, Pantginis argues that the results should be interpreted as a major positive. With this in mind, he left a "buy" rating on IOVA. Along with his bullish call, the analyst lifted the price target from $36 to $48. This brings the upside potential to 50%. * 10 Healthcare Stocks to Buy Despite the Headlines With 100% Street support, or nine "buy" ratings set in recent months, the consensus is unanimous: IOVA is a "strong buy." See the IOVA stock analysis. Natera (NTRA) Source: Shutterstock At the core of Natera's mission, it hopes its innovative technology will deliver highly accurate solutions for noninvasive prenatal testing (NIPT), genetic-carrier screening, (PGD/PGS) as well as miscarriage testing. With it handing out a preliminary Q1 beat, several analysts believe the sky's the limit when it comes to this name among healthcare stocks. According to the company's management, Q1 revenue is expected to come in around $89-91 million, which would reflect 33-36% year-over-year growth. Additionally, even though investors have expressed concern regarding rising levels of competition, uptake for its mobile phlebotomy service, which allows patients to provide blood samples from the safety of their own home, has been solid. Weighing in for Canaccord Genuity, analyst Max Masucci points out that during the COVID-19 pandemic, NTRA has actually been gaining market share. "NTRA's core reproductive health business provides an essential service to pregnant women, and we continue to expect pregnancy-related doc visits to decline less than routine primary care visits over the coming months …We were positively surprised to see a major commercial payor grant temporary coverage to an incremental 20 million average risk pregnancies (for NIPT), which we view as an important step in the right direction," he stated. It also doesn't hurt that the company has a pro-forma cash balance of about $650 million-plus thanks to its $250 million-plus convertible raise. All of the above prompted Masucci to keep his "buy" rating and $46 price target as is. Given this target, the upside potential lands at 31%. NTRA has received support from other Wall Street analysts as well. The stock has only "buy" ratings attached to it, three to be exact, and thus the analyst consensus is a "strong buy." At $46.33, the average price target is slightly more aggressive than Masucci's and implies 32% upside potential. See the NTRA stock analysis. United Therapeutics (UTHR) Source: Freestocks Via UnsplashPharmaceutical company United Therapeutics already has multiple therapies approved for the treatment of pulmonary arterial hypertension (PAH) and pediatric neuroblastoma. However, after a strong showing in its first quarter, the gains could still keep on coming for UTHR, making it another great option for healthcare stocks to buy. During the most recent quarter, net revenue came in at $356.3 million, surpassing the $344.3 million consensus estimate. GAAP EPS also exceeded expectations, with the figure landing at $3.12 compared to the Street's $2.74 call. The top and bottom-line beats were primarily driven by Remodulin's resilience to generic versions of treprostinil, with the drug contributing $145.3 million in Q1 sales. Not to mention Orenitram saw 18% year-over-year revenue growth. Looking specifically at its cash position, UTHR rounded out the quarter with a healthy balance of $2.41 billion. While some investors have sounded the alarm bells regarding COVID-19's effect on sales, Wedbush analyst Liana Moussatos argues that the impact might not actually be so profound. "Management commented that Q1 sales were not impacted by the COVID-19 pandemic, but observed a decrease in new prescriptions and new patient starts for treprostinil-based therapies (Remodulin, Tyvaso and Orenitram) in April 2020 primarily due to the inability of patients to visit the doctor's office physically. Due to our view that COVID-19 is likely only to have a transient decrease in Q2 revenues, we remain comfortable with our revenue projections for 2020," Moussatos explained. On top of this, multiple near-term catalysts are fast-approaching, including the submission of an sNDA to expand Tyvaso labeling, a discussion with the FDA about potential indication expansion for Unituxin in relapsed/refractory neuroblastoma, and the launch of the pharmacy-filled version of Remodulin's RemUnity system. Based on all of the above, it's no wonder Moussatos reiterated an "outperform" rating and $243 price target, which indicates 123% upside potential. * 7 Stocks to Buy Benefiting From Millennial Money In general, other Wall Street analysts take a similar approach when it comes to UTHR and other healthcare stocks. Out of seven total analysts that have thrown an opinion into the mix recently, six were bullish, making the consensus rating a "strong buy." See the UTHR stock analysis. Axsome Therapeutics (AXSM) Source: Shutterstock And just like that, Axsome Therapeutics has another blockbuster opportunity, making it a great option out of the healthcare stocks out there. The company, which develops therapies for patients suffering from central nervous system (CNS) disorders, announced on April 27 that AXS-05 had met the primary and secondary endpoints in the Phase 2b/3 ADVANCE-1 trial testing the drug in patients experiencing agitation related to Alzheimer's disease (AD), the most common form of dementia. Compared to the placebo, AXS-05 was able to rapidly, substantially, and significantly improve agitation. Commenting on the results, H.C. Wainwright analyst Raghuram Selvaraju noted, "We believe that regulators in multiple territories ought to view these data favorably, particularly in light of the rapid onset of action and robust treatment effect. Furthermore, we expect that any confirmatory trial in this indication would not need to include an active comparator arm." It should be noted that currently, no FDA-approved treatments are available for AD agitation. In addition, agitation is seen in up to 70% of AD sufferers and is associated with accelerated cognitive decline, earlier nursing home placement and increased mortality risk. Given the high unmet medical need, the candidate has been granted FDA Fast Track designation. Thanks to this huge market opportunity, Selvaraju believes AXSM is well positioned for hefty gains. Along with his bullish call, he increased the price target to $210. This brings the upside potential to 133%. The rest of the Street doesn't beg to differ. With six "buys" compared to zero "holds" or "sells," the consensus is unanimous: AXSM is a "strong buy." While less aggressive than Selvaraju's, the $142.80 average price target still leaves room for 58% upside potential. See the AXSM stock analysis. TipRanks offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post 7 "Strong Buy" Healthcare Stocks to Buy Now appeared first on InvestorPlace.
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Iovance Biotherapeutics, Inc. (IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, today announced that H. Lee Moffitt Cancer Center (“Moffitt”) plans to present clinical results from a Phase 1 trial using Moffitt’s tumor infiltrating lymphocytes (TIL) in patients with non-small cell lung cancer (NSCLC) at the American Association for Cancer Research (AACR) Virtual Annual Meeting I, to be held April 27-28, 2020. The Phase 1 study is being conducted at Moffitt with support from Iovance Biotherapeutics, a Stand Up To Cancer Catalyst® grant, and other partners.
Investors need to pay close attention to Iovance Biotherapeutics (IOVA) stock based on the movements in the options market lately.
Iovance Biotherapeutics, Inc. (IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, will report its first quarter 2020 financial results on Tuesday, May 5, 2020. The live webcast can be accessed in the Investors section of the Company’s website at www.iovance.com. Iovance Biotherapeutics aims to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers.
Anyone researching Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) might want to consider the historical volatility of the...
Iovance intends to grant the underwriters a 30-day option to purchase up to $75 million of additional shares of common stock at the public offering price, less the underwriting discounts and commissions. Iovance intends to use the proceeds from this offering to fund the expansion of its organization to support the potential commercial launch of lifileucel for advanced melanoma and LN-145 for advanced cervical cancer, to initiate a program directed at registration of Iovance’s tumor infiltrating lymphocyte therapies in non-small cell lung cancer, to continue support of ongoing commercial manufacturing activities, and for the development of Iovance’s IL-2 analog, IOV-3001, and for other general corporate purposes. Jefferies LLC and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering.
Iovance Biotherapeutics, Inc. (IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies (tumor-infiltrating lymphocyte, TIL and peripheral-blood lymphocyte, PBL), today reported first quarter 2020 financial results and provided a corporate update. “We continue making strong progress toward commercializing Iovance TIL for melanoma and cervical cancer indications,” said Maria Fardis, Ph.D., MBA, Iovance President and Chief Executive Officer. Cancer patients are still in critical need of access to therapy and a one-time treatment may offer an attractive therapeutic option to patients and treating physicians.
Iovance Biotherapeutics, Inc. (IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, today announced initial data from pivotal Cohort 4 and updated long-term data from Cohort 2 in the C-144-01 study of lifileucel in advanced melanoma. “We are very pleased to announce our pivotal Cohort 4 early data from the C-144-01 clinical study in advanced melanoma today,” said Maria Fardis, Ph.D., President and Chief Executive Officer of Iovance Biotherapeutics.
Speaking on the call today, we have Maria Fardis, our president and chief executive officer; Friedrich Finckenstein, our chief medical officer; and Tim Morris, chief financial officer. Before we start, I would like to remind everyone that statements made during this conference call will include forward-looking statements regarding Iovance's goals, business focus, business plans, pre-commercial activities, clinical trial plans and results, potential future applications of our technologies, manufacturing capabilities, regulatory feedback and guidance, collaboration, impact of COVID-19 and future updates.
(Bloomberg) -- JPMorgan Asset Management now has more than $400 million in its Thematics - Genetic Therapies fund launched in October, just before the world’s need for such technologies came into focus with the arrival of Covid-19.The fund uses natural-language processing focused on keywords in company documents along with a revenue screen to find firms that best fit the genetic-therapies theme, according to Sherene Ban, an investment specialist at JPMorgan Asset. The portfolio managers also factor in things like liquidity and quality to make decisions on the fund’s composition, Ban said in an interview Friday.The fund has a 20% one-month return that puts it in the 94th percentile among its peers, according to data compiled by Bloomberg. Of course, the biotech theme has done well generally -- the S&P Biotechnology Select Industry Index is up 9.5% this year versus a decline of 10% for the S&P Total Market Index.“We’re starting to see a lot of client interest because it actually behaved as a defensive fund” through the market turmoil of the past few months, Ban said. She noted that technologies related to genetic therapies -- such as genetic sequencing of the virus and vaccine development -- have been central to efforts to combat Covid-19, spurring price gains of stocks in the space.The fund’s top three holdings as of March 31 were Iovance Biotherapeutics Inc., Regeneron Pharmaceuticals Inc. and uniQure NV. It contains about 100 stocks to provide diversified access to the overall theme, and has about a third of its portfolio in companies with under $2 billion in market capitalization, Ban said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Iovance Biotherapeutics, Inc. (IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, today announced that new interim data from Cohort 2 in the C-144-01 study of lifileucel in advanced melanoma will be provided as an oral presentation at the American Society of Clinical Oncology’s (ASCO) upcoming ASCO20 Virtual Scientific Program, to be held May 29-31, 2020. Iovance Biotherapeutics aims to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers.
Just across the San Mateo Bridge, Gilead reportedly is weighing a bid for a third Bay Area cancer company.
Iovance Biotherapeutics, Inc. (IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, today announced new interim data from Cohort 2 in the C-144-01 study of lifileucel in advanced melanoma. “We are very excited to share our latest melanoma data at the upcoming ASCO oral presentation,” said Maria Fardis, Ph.D., president and chief executive officer of Iovance Biotherapeutics.