On September 17, Iovance Biotherapeutics, Inc. rose 8.05% in regular trading, trading at $10.755/share, with turnover of $61.762 million, extending its recent strong rally.

The sustained upside is driven by the company's previously reported Q2 results that significantly exceeded expectations. Revenue came in at approximately $99.31 million, well above the consensus estimate of $87.83 million, marking a record quarterly high. The per-share loss of $0.11 also beat the $0.14 estimate. Core product Amtagvi generated approximately $91 million in single-quarter revenue, surpassing UBS's $80 million forecast. Following the results, UBS raised its price target on the stock to $7 from $4 while maintaining a Neutral rating, and projected that management would lift full-year revenue guidance above $350 million to $370 million ahead of Q3 results. UBS forecasts Q3 Amtagvi revenue of $96 million and total revenue of $405 million, though it noted that emerging melanoma therapies could add competitive pressure and that treatment-center onboarding timelines of six months or more remain a headwind.

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