Iovance Biotherapeutics Announces Closing of $172.5 Million Common Stock Public Offering
13 Julho 2023 - 5:01PM
Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a biotechnology
company focused on innovating, developing, and delivering novel
polyclonal tumor infiltrating lymphocyte (TIL) therapies for
patients with cancer, today announced the closing of an
underwritten public offering of 23,000,000 shares of its common
stock at a public offering price of $7.50 per share. The shares of
common stock issued and sold in the offering include 3,000,000
shares issued upon the exercise in full by the underwriters of
their option to purchase additional shares at the public offering
price, less the underwriting discounts and commissions. The gross
proceeds from the offering, before deducting the underwriting
discounts and commissions and other estimated offering expenses
payable by Iovance, are $172.5 million.
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 acted
as joint lead book-running managers for the offering.
The shares of common stock described above were
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
was made 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) cell 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, that may extend and improve life for patients with cancer.
For more information, please visit www.iovance.com.
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 use of proceeds from the public offering. Actual
results may differ from those set forth in this press release due
to the risks and uncertainties inherent in the Company’s business.
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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