Iovance Biotherapeutics Inc. (NASDAQ: IOVA) is a biopharmaceutical company focused on development treatments for cancer.
The company is largely known for its tumor infiltrating lymphocyte immunotherapy, which is being studied for its effectiveness against cervical cancer, melanoma, non-small cell lung cancer, and head and neck squamous cell carcinoma.
In its Phase II study, 66 melanoma patients, which had little success with three courses of standard treatments before entering the trial, had seen disease progression that was in the range of 77% to 99% decline to 13.6% to 19.7%.
Meanwhile, in a separate study, the overall response rate to the treatment jumped as high as 85.7% in patients with advanced forms of melanoma.
However, despite the strong results, the company’s shares are down following its May announcement that it would delay its Biologic License Application with the U.S. Food and Drug Administration.
Still, the stock has rebounded by 15.1% over the past month. This is largely thanks to Cathie Wood, the founder of the wildly successful Ark Investment Management, who recently scooped up 11 million shares after the dip.
And now that it’s building momentum, it may be a great time for retail investors to buy as well.
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