Iovance Shares Jump on Buyout Rumors

Immuno-oncology biotech Iovance Biotherapeutics’ shares rocketed up by nearly 40% Tuesday on buyout chatter. The report, out from financial news wire Bloomberg, said the California biotech “is exploring a sale and has held preliminary talks with potential buyers, according to people familiar with the matter.” The M&A rumors came amid its fourth-quarters financial posted Tuesday, with pivotal data readouts and potential filings in melanoma and cervical cancer with its leading candidate lifileucel expected this year. It’s also targeting head and neck cancers as well as some blood cancers.

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