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Why Iovance Biotherapeutics Is Trading Lower Today

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Iovance Biotherapeutics (NASDA:IOVA) shares are trading lower on Thursday, after the company announced a $500 million proposed public offering of common stock.

Iovance Biotherapeutics is a clinical-stage biopharmaceutical company. The company focused on the development and commercialization of cell therapies as novel cancer immunotherapy products designed to harness the power of a patient's immune system to eradicate cancer cells.

Its lead pipeline candidate, LN-145, is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) to treat patients with refractory metastatic melanoma.

Iovance Biotherapeutics shares were trading down 11.39% at $33.75 at the time of publication on Thursday. The stock has a 52-week high of $41.49 and a 52-week low of $16.12.

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