5 Resilient Stocks During Market Bloodbath

3. Iovance Biotherapeutics Inc. (NASDAQ:IOVA)

Iovance Biotherapeutics saw its share prices increase by 9.36 percent to close at $4.44 apiece, as investors positioned portfolios ahead of the end of the second quarter, supported by a recent regulatory approval that opened the door for its expansion into a new international market.

It can be learned that earlier this month, Iovance Biotherapeutics Inc. (NASDAQ:IOVA) secured the conditional approval of the Therapeutic Goods Administration (TGA) of Australia for Amtagvi—a tumor-derived autologous T-cell immunotherapy, for previously treated advanced (metastatic or unresectable) melanoma.

The company posted an optimistic outlook about Amtagvi’s business prospects in Australia, with the country having the highest rate of melanoma globally, with an estimated 17,000 new cases diagnosed each year and more than 1,500 deaths annually.

The go-signal marked Iovance Biotherapeutics Inc.’s (NASDAQ:IOVA) third marketing authorization for Amtagvi, after earlier securing the nod of the US and Canada for the same treatment.

“This approval … marks a significant step forward for Iovance in the country with the highest rate of melanoma globally,” Iovance Biotherapeutics Inc. (NASDAQ:IOVA) President and CEO Frederick Vogt said.

“We are in the process of authorizing our first Australian treatment center as we advance our expansion strategy for Amtagvi in additional markets with a high prevalence of advanced melanoma,” he added.

TGA granted approval based on safety and efficacy results from the global, multicenter C-144-01 trial investigating Amtagvi in patients with advanced melanoma previously treated with anti-PD-1 therapy and targeted therapy, if applicable.