FDA Accelerated Approval Propels Iovance Biotherapeutics Stock Amid Milestone Cell Therapy Breakthrough

Iovance Biotherapeutics stock surged by 33.8% after the FDA granted accelerated approval for Amtagvi as a treatment for advanced melanoma. The company also announced a stock offering to raise funds for the commercial launch of Amtagvi. With the FDA approval, Iovance now has a marketable product, making it a significant player in the biotech industry. While the stock's anticipated growth is already priced in, potential regulatory approvals for Amtagvi in other countries could serve as catalysts for further growth.