Iovance Biotherapeutics (IOVA) has received a new Buy rating, initiated by Goldman Sachs analyst, Andrea Tan.
Andrea Tan has given a Buy rating to Iovance Biotherapeutics (IOVA) due to a multitude of reasons. The first of which is the company’s development of autologous tumor-infiltrating lymphocyte (TIL) therapies for solid tumor cancers. With their leading asset, lifileucel, currently under regulatory review for metastatic melanoma post checkpoint inhibitor, Tan sees a promising future for IOVA. The forthcoming approval of the first TIL therapy, which is also the first cell therapy for solid tumors, is expected to transform IOVA into a commercial entity.
In addition, Tan is optimistic about the near- and long-term launch potential of lifileucel due to its superior profile, early indications of key opinion leader enthusiasm, anticipated favorable pricing and coverage, and manufacturing readiness and capacity. All these factors are believed to contribute to a blockbuster opportunity with estimated peak global sales of $1.5 billion in 2038. The potential expansion into 1L melanoma and NSCLC, with ongoing trials, adds to the attractiveness of the stock. Furthermore, efforts to explore TIL therapy in other indications such as cervical and endometrial cancers are seen as promising, given the potential of TILs to become a core cellular therapy for solid tumors.