Iovance Biotherapeutics' metastatic melanoma treatment, Amtagvi, received accelerated FDA approval, causing a 41% stock surge.

Iovance Biotherapeutics shares soared 41% after the US FDA granted accelerated approval for its metastatic melanoma treatment, Amtagvi. The company plans to use the proceeds from a $211m underwritten stock offering to support the commercial launch of Amtagvi and fund ongoing clinical programs. This marks a significant milestone for Iovance as it transitions from a clinical-stage biotech to a company with a marketable product.

February 20, 2024
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