On September 29, Iovance Biotherapeutics, Inc. rose 8.46% in pre-market trading, trading at $11.93/share, with turnover of approximately $2.76 million. The surge was driven by the company issuing upwardly revised full-year revenue guidance that exceeded Wall Street expectations.

Specifically, Iovance Biotherapeutics, Inc. now expects full-year revenue in the range of $410 million to $420 million, surpassing the FactSet consensus estimate of $402.8 million. The raised guidance follows strong second-quarter results reported in early August, during which the company posted record quarterly revenue of approximately $99.3 million and an EPS loss of $0.11, outperforming analyst expectations of a $0.13 to $0.14 per-share loss.

Iovance Biotherapeutics, Inc. is a commercial-stage biotechnology company focused on developing and commercializing autologous tumor infiltrating lymphocyte-based cell therapies for the treatment of metastatic melanoma and other solid tumor cancers. Its lead product, Amtagvi, is approved for adult patients with unresectable or metastatic melanoma, and the company maintains a pipeline spanning non-small cell lung cancer and gynecological cancers.

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