Truist downgraded Iovance Biotherapeutics (IOVA) to Hold from Buy without a price target The firm wants Iovance to get a better handle on market dynamics and develop some consistency in meeting or beating expectations. Truist updated the company’s model to reflect the “slashed guidance and increased costs.” It now projects fiscal 2025 revenue of $211M for Amtagvi and $62M for Proleukin, totaling $272M, down from a prior $433M estimate.
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