Iovance expects to quickly address clinical hold, says Barclays

Barclays says the clinical hold placed on Iovance Biotherapeutics’ lung trial due to a fatal event appears likely due to infection and progressive disease instead of the company’s TIL treatment. Management expects the hold could be quickly addressed, the analyst tells investors in a research note. The firm adds the clinical hold “appears de-linked” from Iovance’s melanoma application review and that new data points to encouraging durability in late line patients. It keeps an Overweight rating on Iovance with an $18 price target.