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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Iovance Biotherapeutics Inc | NASDAQ:IOVA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.09 | 0.65% | 13.97 | 13.75 | 14.08 | 14.13 | 13.531 | 13.89 | 3,954,679 | 00:28:18 |
From May 2019 to May 2024
By Chris Wack
Iovance Biotherapeutics Inc. (IOVA) shares dropped 10% to $3.65 Monday after the company said it obtained a license from Novartis (NVS) to develop and commercialize an antibody cytokine engrafted protein, referred to as IOV-3001.
The biotechnology company said it will make an up-front payment to Novartis as well as low single digit milestones involved in the initiation of patient dosing in various phases of clinical development for IOV-3001 and approval of the product in the U.S., EU and Japan.
Iovance said Novartis also is entitled to low-to-mid single digit royalties from commercial sales of the product.
Iovance said it will focus on manufacturing of IOV-3001 during 2020 and may initiate Investigational New Drug-enabling activities as early as 2021.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 13, 2020 12:57 ET (17:57 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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