Iovance Biotherapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)
21 10월 2023 - 6:15AM
Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a biotechnology
company focused on innovating, developing, and delivering novel
polyclonal tumor infiltrating lymphocyte (TIL) therapies for
patients with cancer, today announced that on October 20, 2023 (the
“Date of Grant”), the Company approved the grant of inducement
stock options covering an aggregate of 48,300 shares of Iovance’s
common stock to ten new non-executive employees.
The awards were granted under Iovance’s 2021 Inducement Plan,
which was adopted on September 22, 2021 and amended on January 12,
2022 and May 10, 2023, and provides for the granting of equity
awards to new employees of Iovance by the Company’s compensation
committee in accordance with Nasdaq Listing Rule 5635(c)(4). Each
of the stock options granted as referenced in this press release
has an exercise price of $3.33, the closing price of Iovance’s
common stock on the Date of Grant. Each stock option vests over a
three-year period, with one-third of the shares vesting on the
first anniversary of the employee’s start date (referred to as the
“First Vesting Date”), and the remaining shares vesting in eight
quarterly installments over the next two years, commencing with the
first quarter following the First Vesting Date, subject to
continued employment with the Company through the applicable
vesting dates.
About Iovance Biotherapeutics, Inc.
Iovance Biotherapeutics aims to be the global leader in
innovating, developing and delivering tumor infiltrating lymphocyte
(TIL) therapies for patients with cancer. We are pioneering a
transformational approach to cure cancer by harnessing the human
immune system’s ability to recognize and destroy diverse cancer
cells in each patient. Our lead late-stage TIL product candidate,
lifileucel for metastatic melanoma, has the potential to become the
first approved one-time cell therapy for a solid tumor cancer. The
Iovance TIL platform has demonstrated promising clinical data
across multiple solid tumors. We are committed to continuous
innovation in cell therapy, including gene-edited cell therapy,
that may extend and improve life for patients with cancer. For more
information, please visit www.iovance.com.
Forward-Looking Statements
Certain matters discussed in this press release are
“forward-looking statements” of Iovance Biotherapeutics, Inc.
(hereinafter referred to as the “Company,” “we,” “us,” or “our”)
within the meaning of the Private Securities Litigation Reform Act
of 1995 (the “PSLRA”). All such written or oral statements made in
this press release, other than statements of historical fact, are
forward-looking statements and are intended to be covered by the
safe harbor for forward-looking statements provided by the PSLRA.
Without limiting the foregoing, we may, in some cases, use terms
such as “predicts,” “believes,” “potential,” “continue,”
“estimates,” “anticipates,” “expects,” “plans,” “intends,”
“forecast,” “guidance,” “outlook,” “may,” “could,” “might,” “will,”
“should” or other words that convey uncertainty of future events or
outcomes and are intended to identify forward-looking statements.
Forward-looking statements are based on assumptions and assessments
made in light of management’s experience and perception of
historical trends, current conditions, expected future developments
and other factors believed to be appropriate. Forward-looking
statements in this press release are made as of the date of this
press release, and we undertake no duty to update or revise any
such statements, whether as a result of new information, future
events or otherwise. Forward-looking statements are not guarantees
of future performance and are subject to risks, uncertainties and
other factors, many of which are outside of our control, that may
cause actual results, levels of activity, performance, achievements
and developments to be materially different from those expressed in
or implied by these forward-looking statements. Important factors
that could cause actual results, developments and business
decisions to differ materially from forward-looking statements are
described in the sections titled "Risk Factors" in our filings with
the Securities and Exchange Commission, including our most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and
include, but are not limited to, the following substantial known
and unknown risks and uncertainties inherent in our business: the
effects of the COVID-19 pandemic; risks related to the timing of
and our ability to successfully develop, submit, obtain and
maintain U.S. Food and Drug Administration (“FDA”) or other
regulatory authority approval of, or other action with respect to,
our product candidates, and our ability to successfully
commercialize any product candidates for which we obtain FDA
approval; whether clinical trial results from our pivotal studies
and cohorts, and meetings with the FDA, may support registrational
studies and subsequent approvals by the FDA; preliminary and
interim clinical results, which may include efficacy and safety
results, from ongoing clinical trials or cohorts may not be
reflected in the final analyses of our ongoing clinical trials or
subgroups within these trials or in other prior trials or cohorts;
the risk that enrollment may need to be adjusted for our trials and
cohorts within those trials based on FDA and other regulatory
agency input; the changing landscape of care for cervical cancer
patients may impact our clinical trials in this indication; the
risk that we may be required to conduct additional clinical trials
or modify ongoing or future clinical trials based on feedback from
the FDA or other regulatory authorities; the risk that our
interpretation of the results of our clinical trials or
communications with the FDA may differ from the interpretation of
such results or communications by the FDA (including from the prior
pre-BLA meeting with the FDA); the risk that the FDA may not
approve or may delay approval for our BLA submission for lifileucel
in metastatic melanoma; the acceptance by the market of our product
candidates and their potential reimbursement by payors, if
approved; our ability or inability to manufacture our therapies
using third party manufacturers or our own facility may adversely
affect our potential commercial launch; the results of clinical
trials with collaborators using different manufacturing processes
may not be reflected in our sponsored trials; the risk that
unanticipated expenses may decrease our estimated cash balances and
forecasts and increase our estimated capital requirements; and
other factors, including general economic conditions and regulatory
developments, not within our control.
CONTACTS
Iovance Biotherapeutics, Inc:Sara Pellegrino,
IRCSenior Vice President, Investor Relations & Corporate
Communications650-260-7120 ext. 264Sara.Pellegrino@iovance.com
Jen SaundersDirector, Investor Relations & Public
Relations267-485-3119Jen.Saunders@iovance.com
Iovance Biotherapeutics (NASDAQ:IOVA)
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