Feb 16, 2024 day of FDA approval for Amtagvi, high for IOVA was $10.44. (news came out late on a Friday which dulled the initial price response).
First full trading day post approval IOVA high was $13.41, and XBI high was $93.84.
Feb 28, XBI hit it's one year high at $103.52 the same day that IOVA hit it's high of $18.33.
Today XBI is currently $87.55, down 15.4% from it's recent high and IOVA is currently $12.05, down 34.3% from it's high on the same day that XBI hit it's one year high.
IOVA is trading 2-3x XBI (that's the correlation).
It's been said by many of us who are bullish on Iovance that this is not a short term play. Revenues will drive price, the price will not run-up significantly until such information is verified or additional good news comes in on other items such as foreign market approvals, positive trials and PDUFA dates being established for other TIL therapies for other solid tumor cancers.
Of course, a buyout at any time is possible, but more likely after a few Q's of reported earnings from Amtagvi.
IMHO
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