Biotech Stocks Surge 18% on First Solid Tumor Cell Therapy Hopes

Iovance Biotherapeutics (NASDAQ: IOVA), a cell-therapy developer listed on the Nasdaq, saw its share price surge 18.21% to close at $4.48. Its market capitalization swelled to about $2 billion (roughly KRW 2.7 trillion), with a one-day gain of approximately $445 million (around KRW 610 billion).

Recent analysis suggests investors are re-evaluating the clinical data and revenue growth prospects of Amtagvi, its tumor-infiltrating lymphocyte (TIL) therapy for melanoma, which has driven the stock’s upward momentum. In February, positive early clinical results for its TIL treatment targeting soft tissue sarcoma propelled the share price up by more than 20%, highlighting expectations for broader pipeline expansion into solid tumors.

Iovance Biotherapeutics is a U.S. biotech firm developing TIL-based cell therapies, with its lead immuno-oncology pipeline focused on solid tumors such as melanoma. In February 2024, the U.S. Food and Drug Administration granted accelerated approval to its TIL therapy lifileucel—marketed as Amtagvi—for patients with advanced melanoma. This marks the first cell therapy approved for a solid tumor and represents a significant milestone in the cell-therapy market.