Iovance Biotherapeutics (IOVA): Promising TIL Therapy Gains Momentum Amid Funding Challenges

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the penny stocks that will skyrocket. On July 15, Citizens JMP analyst Reni J. Benjamin reiterated a ‘Market Perform’ rating. The positive stance stems from the company delivering positive results from its real-world applications of Amtagvi therapy.

The test results showed a higher response rate than those observed in the C-144-01 trial. The results triggered accelerated approval for Amtagvi for advanced melanoma patients in the post-PD-1 setting. According to JMP Securities, the results demonstrate “remarkable potential” for TIL therapy post checkpoint therapy.

However, the research firm believes Iovance Biotherapeutics will need a significant capital infusion in the next six months to continue its operations. That’s because it ended the first quarter with $366 million in cash and an expected cash burn of $300 million.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a biotechnology company focused on developing and commercializing novel cell therapies for the treatment of cancer. Its primary approach involves using tumor-infiltrating lymphocytes (TIL) therapy, which harnesses a patient’s immune cells to target and destroy cancer cells.

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Disclosure: None. This article is originally published at Insider Monkey.