Barclays analyst Peter Lawson lowered the firm’s price target on Iovance Biotherapeutics to $18 from $40 and keeps an Overweight rating on the shares. The FDA action date Iovance’s TIL therapy was extended from November 25, 2023, to February 24, 2024, due to FDA resource constraints, the analyst tells investors in a research note. The firm “derisked” its model but is encouraged by the successful manufacturing inspections and collaboration with FDA officials to streamline final steps of the review.
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