Iovance Biotherapeutics stock dips on pricing $150M stock offering

Underwriters are granted a 30-day option to purchase up to 3 million additional shares of common stock at the public offering price.

The offering is expected to close on or about July 13, 2023, subject to customary closing conditions.

Iovance intends to use the proceeds from this offering for several purposes, including to fund the commercial launch of lifileucel and to prepare its manufacturing facility in Philadelphia, and for other general corporate purposes.