Why Iovance Biotherapeutics Stock Is Crashing Today

Shares of Iovance Biotherapeutics (NASDAQ: IOVA) were crashing 31.1% lower as of 11:57 a.m. EDT on Wednesday. The steep decline came after the company announced a delay in the U.S. regulatory filing for approval of cell therapy lifileucel.

Iovance previously submitted data to the U.S. Food and Drug Administration (FDA) for its potency assay for lifileucel. The company received feedback from the FDA, prompting it to push back its planned filing for approval of the cell therapy from later this year to the first half of 2022.

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Source Fool.com