Iovance Biotherapeutics, Inc. Announces Proposed Public Offering of Common Stock
10 Julho 2023 - 5:34PM
Iovance Biotherapeutics, Inc. (Nasdaq: IOVA) (“Iovance” or
“Company”), a biotechnology company focused on innovating,
developing, and delivering novel polyclonal tumor infiltrating
lymphocyte (“TIL”) therapies for patients with cancer, today
announced that it intends to offer and sell $150 million of shares
of its common stock, subject to market and other conditions, in an
underwritten public offering. All of the shares in the offering are
to be sold by Iovance. Iovance intends to grant the underwriters a
30-day option to purchase an additional $22.5 million of
shares of common stock at the public offering price, less the
underwriting discounts and commissions.
Iovance intends to use the proceeds from this offering to fund
preparations for the commercial launch of lifileucel (if approved),
including continuing to prepare the Iovance Cell Therapy Center,
the Company’s manufacturing facility in Philadelphia, to support
ongoing clinical programs including its NSCLC registration-directed
study and its frontline advanced melanoma Phase 3 confirmatory
trial, to expand the combination of TIL and immune checkpoint
inhibitors (“ICIs”) in ICI naïve patient cohorts, to support the
continued development of our pipeline candidates, to support
Proleukin integration activities and for other general corporate
purposes.
Goldman Sachs & Co. LLC and Jefferies LLC are acting as
joint lead book-running managers for the offering.
The shares of common stock described above are being offered by
Iovance pursuant to its shelf registration statement on Form S-3
that became automatically effective upon filing with
the Securities and Exchange Commission on June 16, 2023.
The offering may be made only by means of a prospectus supplement
and accompanying prospectus, copies of which may be obtained by
contacting Goldman Sachs & Co. LLC by mail at 200 West
Street, New York, NY 10282, Attention: Prospectus Department, by
telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com or Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520
Madison Avenue, New York, New York, 10022, by telephone at (877)
547-6340, or by email
at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Iovance Biotherapeutics, Inc.Iovance
Biotherapeutics aims to be the global leader in innovating,
developing and delivering tumor infiltrating lymphocyte (“TIL”)
therapies for patients with cancer. We are pioneering a
transformational approach to cure cancer by harnessing the human
immune system’s ability to recognize and destroy diverse cancer
cells in each patient. Our lead late-stage TIL product candidate,
lifileucel for metastatic melanoma, has the potential to become the
first approved one-time cell therapy for a solid tumor cancer. The
Iovance TIL platform has demonstrated promising clinical data
across multiple solid tumors. We are committed to continuous
innovation in cell therapy, including gene-edited cell therapy,
which may extend and improve life for patients with cancer.
Forward Looking StatementsCertain matters
discussed in this press release are “forward-looking statements” of
Iovance Biotherapeutics, Inc. (hereinafter referred to as the
“Company,” “we,” “us,” or “our”) within the meaning of the Private
Securities Litigation Reform Act of 1995 (the “PSLRA”). All such
written or oral statements made in this press release, other than
statements of historical fact, are forward-looking statements and
are intended to be covered by the safe harbor for forward-looking
statements provided by the PSLRA. Without limiting the foregoing,
we may, in some cases, use terms such as “predicts,” “believes,”
“potential,” “continue,” “estimates,” “anticipates,” “expects,”
“plans,” “intends,” “forecast,” “guidance,” “outlook,” “may,”
“could,” “might,” “will,” “should” or other words that convey
uncertainty of future events or outcomes and are intended to
identify forward-looking statements. The forward-looking statements
include, but are not limited to, statements about the Company’s
anticipated public offering and the anticipated use of proceeds
therefrom. Actual results may differ from those set forth in this
press release due to the risks and uncertainties inherent in the
Company’s business, including, without limitation: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all, and the
uncertainties inherent. Forward-looking statements are based on
assumptions and assessments made in light of management’s
experience and perception of historical trends, current conditions,
expected future developments and other factors believed to be
appropriate. Forward-looking statements in this press release are
made as of the date of this press release, and we undertake no duty
to update or revise any such statements, whether as a result of new
information, future events or otherwise. Forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties and other factors, many of which are outside of our
control, which may cause actual results, levels of activity,
performance, achievements and developments to be materially
different from those expressed in or implied by these
forward-looking statements. Important factors that could cause
actual results, developments and business decisions to differ
materially from forward-looking statements are described in the
sections titled “Risk Factors” in our filings with the Securities
and Exchange Commission, including our most recent Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q. Copies of these
filings are available online at www.sec.gov.
Contacts:
Iovance Biotherapeutics, Inc.Sara Pellegrino,
IRCSenior Vice President, Investor Relations & Corporate
Communications650-260-7120 ext. 264Sara.Pellegrino@iovance.com
Jen SaundersDirector, Investor Relations & Public
Relations267-485-3119Jen.Saunders@iovance.com
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