NorthWest Biotherapeutics Inc (NWBO)

[Galzus Research]

And the list is even longer than that of biotechs that go down after approval. Autolus and Adaptimmune are two examples in the cell therapy space aside from Iovance, so Iovance is not really alone in this environment.

Just yesterday, Nuvation Bio got an approval for what looks like a best-in-class ROS1 inhibitor in NSCLC. So this phenomenon is not even limited to cell therapies.

Next up (decision deadline tomorrow) is UroGen, but their stock is down right now because the ODAC was split on recommending approval, so they might actually go up if the decision is positive.