Iovance Biotherapeutics shares surge 11.81% intraday after Q3 earnings beat and positive tumor treatment trial results.

Iovance Biotherapeutics (IOVA) surged 11.81% intraday following the release of third-quarter financial results showing a narrower-than-expected loss and a 15% year-over-year revenue increase to $67.5 million, driven by strong sales of its approved therapy Amtagvi. The stock’s rally aligned with positive interim data from a Phase 2 trial, which demonstrated a 25.6% response rate for its tumor-infiltrating lymphocyte therapy. While analysts remain cautious about long-term profitability and regulatory hurdles, the near-term optimism stemmed from improved operational performance and clinical progress, positioning the stock for a short-term rebound amid ongoing challenges.