Deals
Iovance Biotherapeutics Explores a Potential Sale
- Analyst says company could make sense for Takeda, Gilead
- Company’s stock has risen more than 200% in the past year
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Cancer drugmaker Iovance Biotherapeutics Inc. is exploring a sale and has held preliminary talks with potential buyers, according to people familiar with the matter. The stock rose as much as 40% on the news.
The San Carlos, California-based company is working with a financial adviser after receiving takeover interest, said one of the people, who asked to not be identified because the matter isn’t public. No final decision has been made and Iovance could opt to remain independent, they said.