Why Is IOVANCE BIOTHERAPEUT (IOVA) Stock Up Today?

IOVA stock is up 7.73% to $5.02 on Thursday, driven by a recent upgrade from Seeking Alpha and positive developments in its pipeline and regulatory approvals. The stock opened with a small gap down but reversed sharply to close near its session high, reflecting renewed investor interest in the company's growth trajectory and therapeutic progress.

What Happened

Seeking Alpha upgraded Iovance Biotherapeutics with a "Buy" rating, citing strong Q1 revenue of $71.4 million led by Amtagvi, a tumor-infiltrating lymphocyte (TIL) therapy. The firm highlighted that Iovance's cash runway now extends to 2028 and that its pipeline could drive further upside. Additionally, Iovance received conditional approval from Australia’s Therapeutic Goods Administration for Amtagvi in previously treated advanced melanoma. The company also announced FDA clearance to proceed with a Phase 1/2 basket study for IOV-5001 and filed a prospectus for a mixed shelf offering, though terms remain undisclosed.

What The Data Shows

The stock opened at $4.61 and traded as low as $4.44 before rallying to a high of $5.07. Volume has reached 18.0 million shares, or 1.2 times the 3-month daily average. The intraday move reflects a reversal from the morning low, with the last trade at $5.03. Iovance remains unprofitable with a TTM net loss of $0.93 per share but has seen revenue grow 34.3% TTM. The stock currently trades at a market cap of $1.8 billion, with a beta of 0.69 and a 52-week range of $1.76 to $5.63.

What To Watch

The company is on track for FY2026 sales between $350 million and $370 million, slightly below the $370.477 million estimate. Investors should monitor the progress of its pipeline trials and any further updates on capital-raising efforts.