Iovance Biotherapeutics ' star asset could propel its stock to new heights, according to Goldman Sachs.
IOVA YTD mountain IOVA YTD chart Iovance specializes in developing autologous tumor-infiltrating lymphocyte, or TIL, therapies for solid tumor cancers using its lead asset lifileucel.
As a catalyst, analyst Andrea Tan pointed to the upcoming approval of the company's first such treatment, which is slated to be reviewed by February 2024.
"With accelerated approval, lifileucel would be the first cell therapy approved for solid tumors and IOVA is preparing for commercial launch," she wrote.
The analyst added that lifileucel, a "best-in-class therapy," has the potential to become the standard of care in treating melanoma.
Persons:
Iovance Biotherapeutics, Goldman Sachs, Andrea Tan, Tan, CNBC's Michael Bloom
Locations:
Friday's