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Why Iovance Is Up Nearly 11% Today

James Brumley, The Motley Fool
·2-min read
Why Iovance Is Up Nearly 11% Today

Shares of biopharma company Iovance (NASDAQ: IOVA) are poised to end Wednesday's trading session almost 11% higher than Tuesday's close, following an encouraging observation from investment analytics outfit Truist. Namely, the odds of an approval of one of its drug prospects seemingly improved after a rival drug developer was granted permission to expand its trials of a similar therapy. On Monday, Instil Bio (NASDAQ: TIL) announced the Food and Drug Administration had cleared the company's request to widen the scope of its current phase 2 trial of ITIL-168.

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