Is It Too Late to Buy Iovance Biotherapeutics Stock?
Earlier this year, share prices of Iovance Biotherapeutics (NASDAQ: IOVA) were soaring after one of its therapies obtained approval from regulators. Iovance stock would go on to reach share price highs of more than $18. Today, however, the stock trades at less than half that price. And in just three months, it has fallen by more than 40% as the hype surrounding the business appears to have evaporated.
Is it too late to invest in Iovance, or could the best be yet to come for this promising healthcare company?
On Feb. 16, the Food and Drug Administration (FDA) granted accelerated approval for Iovance's cell therapy treatment, Amtagvi (lifileucel), to treat advanced melanoma. It marked the first time regulators approved a one-time individualized T-cell therapy for treating a solid tumor cancer. The following day, the stock would jump by more than 31% and within two weeks reach its 52-week high of $18.33.
Source Fool.com
