Business
Iovance Biotherapeutics Reports First Quarter 2020 Financial Results and Provides a Corporate Update
SAN CARLOS, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a late-stage biotechnology company developing novel T
About this update from Iovance Biotherapeutics, Inc.
[{"type":"text","content":"SAN CARLOS, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies (tumor-infiltrating lymphocyte, TIL and peripheral-blood lymphocyte, PBL), today reported first quarter 2020 financial results and provided a corporate update.\n “We continue making strong progress toward commercializing Iovance TIL for melanoma and cervical cancer indications,” said Maria Fardis, Ph.D., MBA, Iovance President and Chief Executive Officer. “While COVID-19 has impacted healthcare systems globally, we have been able to continue our key business operations due to dedication from our employees and through close collaboration with our clinical sites and other business partners. Cancer patients are still in critical need of access to therapy and a one-time treatment may offer an attractive therapeutic option to patients and treating physicians. With the first potential cell therapy in solid tumors and a broad TIL platform, Iovance remains well-positioned to become the leader in development, manufacturing, and commercialization of TIL cell therapy for cancer.” First Quarter 2020 Updates Clinical: Melanoma: the last patient in the pivotal Cohort 4 of C-144-01 melanoma study was dosed in January 2020. The enrollment of this cohort was completed approximately three months ahead of schedule with over-enrollment due to increased demand for participation.Cervical: enrollment in the cervical study C-145-04 continues and completion of enrollment in the pivotal program is on track for approximately mid-2020. Regulatory: Iovance continues preparing for submission of a Biologics License Application (BLA) in late 2020 through data compilation as well as internal readiness activities. Manufacturing: Manufacturing at all manufacturing organizations continues as planned for ongoing clinical studies.Construction of the Iovance manufacturing facility at the Navy Yard in Philadelphia continues with initiation of the build of clean rooms in April 2020, ahead of schedule. Corporate: Iovance continues to build a strong team with approximately 190 employees across multiple locations and an experienced commercial team in place preparing for launch of lifileucel.Iovance has been granted or allowed a total of 12 patents for compositions and methods of treatment...