Iovance Biotherapeutics Inc (IOVA) has released an update.
Iovance Biotherapeutics, Inc. has partnered with leading underwriters to sell 23 million shares, aiming to raise approximately $197.1 million to fund its clinical programs and support the commercial launch of its new drug, AMTAGVITM. The shares, priced at $9.15 each, will back studies in lung cancer and melanoma, as well as further pipeline development. The deal, which includes a 60-day lock-up period for executives and directors, indicates strong strategic moves by Iovance in the biotech space, with the closing set for February 22, 2024.
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