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Iovance Biotherapeutics Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

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Iovance Biotherapeutics (NASDAQ: IOVA) has announced the approval of inducement stock options for new employees on March 20, 2025. The company granted options covering 308,710 shares of common stock to 43 new, non-executive employees under its Amended and Restated 2021 Inducement Plan.

The stock options were granted with an exercise price of $3.54, matching the closing price of Iovance's common stock on the grant date. The vesting schedule spans three years, with one-third of shares vesting on the first employment anniversary and the remaining shares vesting in eight quarterly installments over the following two years, contingent on continued employment.

Iovance Biotherapeutics (NASDAQ: IOVA) ha annunciato l'approvazione di opzioni su azioni per nuovi dipendenti il 20 marzo 2025. L'azienda ha concesso opzioni su 308.710 azioni ordinarie a 43 nuovi dipendenti non esecutivi nell'ambito del suo Piano di Induzione Modificato e Ripristinato del 2021.

Le opzioni su azioni sono state concesse con un prezzo di esercizio di $3.54, che corrisponde al prezzo di chiusura delle azioni ordinarie di Iovance alla data di concessione. Il programma di maturazione si estende su tre anni, con un terzo delle azioni che matura al primo anniversario di assunzione e le restanti azioni che maturano in otto rate trimestrali nei due anni successivi, a condizione di continuare l'impiego.

Iovance Biotherapeutics (NASDAQ: IOVA) ha anunciado la aprobación de opciones sobre acciones para nuevos empleados el 20 de marzo de 2025. La empresa otorgó opciones que cubren 308,710 acciones ordinarias a 43 nuevos empleados no ejecutivos bajo su Plan de Inducción Modificado y Restablecido de 2021.

Las opciones sobre acciones se otorgaron con un precio de ejercicio de $3.54, que coincide con el precio de cierre de las acciones ordinarias de Iovance en la fecha de otorgamiento. El cronograma de adquisición se extiende durante tres años, con un tercio de las acciones adquiriéndose en el primer aniversario del empleo y las acciones restantes adquiriéndose en ocho cuotas trimestrales durante los dos años siguientes, sujeto a la continuación del empleo.

Iovance Biotherapeutics (NASDAQ: IOVA)는 2025년 3월 20일 새로운 직원들을 위한 유인 주식 옵션 승인을 발표했습니다. 회사는 수정 및 재설정된 2021 유인 계획에 따라 43명의 새로운 비임원 직원에게 308,710주에 대한 옵션을 부여했습니다.

주식 옵션은 $3.54의 행사 가격으로 부여되었으며, 이는 부여일의 Iovance 일반 주식 종가와 일치합니다. 주식의 귀속 일정은 3년 동안이며, 첫 고용 기념일에 1/3의 주식이 귀속되고 나머지 주식은 향후 2년 동안 8개의 분기별 할부로 귀속됩니다. 이는 계속 고용될 경우에 한합니다.

Iovance Biotherapeutics (NASDAQ: IOVA) a annoncé l'approbation d'options d'achat d'actions pour de nouveaux employés le 20 mars 2025. L'entreprise a accordé des options couvrant 308 710 actions ordinaires à 43 nouveaux employés non exécutifs dans le cadre de son Plan d'Induction Modifié et Révisé de 2021.

Les options d'achat d'actions ont été accordées avec un prix d'exercice de $3.54, correspondant au prix de clôture des actions ordinaires d'Iovance à la date d'octroi. Le calendrier d'acquisition s'étend sur trois ans, avec un tiers des actions devenant acquises au premier anniversaire de l'emploi et les actions restantes devenant acquises en huit versements trimestriels au cours des deux années suivantes, sous réserve de la poursuite de l'emploi.

Iovance Biotherapeutics (NASDAQ: IOVA) hat am 20. März 2025 die Genehmigung von Aktienoptionsplänen für neue Mitarbeiter bekannt gegeben. Das Unternehmen hat 43 neuen nicht-executiven Mitarbeitern Optionen für 308.710 Stammaktien im Rahmen seines geänderten und neu gefassten Induktionsplans von 2021 gewährt.

Die Aktienoptionen wurden mit einem Ausübungspreis von $3.54 gewährt, der dem Schlusskurs der Iovance-Stammaktien am Tag der Gewährung entspricht. Der Vesting-Zeitplan erstreckt sich über drei Jahre, wobei ein Drittel der Aktien am ersten Jahrestag der Anstellung und die verbleibenden Aktien in acht vierteljährlichen Raten über die folgenden zwei Jahre fällig werden, vorausgesetzt, die Anstellung wird fortgesetzt.

Positive
  • Employee retention incentive structure implemented through stock options
  • Continued company expansion with 43 new hires
Negative
  • Potential shareholder dilution from 308,710 new stock options

SAN CARLOS, Calif., March 21, 2025 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) ("Iovance" or the “Company”), a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (“TIL”) therapies for patients with cancer, today announced that on March 20, 2025 (the “Date of Grant”), the Company approved the grant of inducement stock options covering an aggregate of 308,710 shares of Iovance’s common stock to forty-three new, non-executive employees.

The awards were granted under Iovance’s Amended and Restated 2021 Inducement Plan, which was adopted on September 22, 2021 and amended and restated on January 12, 2022, March 13, 2023, February 26, 2024, and November 22, 2024 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 $3.54, 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 (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, Inc. 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. The Iovance TIL platform has demonstrated promising clinical data across multiple solid tumors. Iovance’s Amtagvi® is the first FDA-approved T cell therapy for a solid tumor indication. 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.

Amtagvi® and its accompanying design marks, Proleukin®, Iovance®, and IovanceCares™ are trademarks and registered trademarks of Iovance Biotherapeutics, Inc. or its subsidiaries. All other trademarks and registered trademarks are the property of their respective owners.

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”). 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,” “can,” “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 U.S. 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 risks related to our ability to successfully commercialize our products, including Amtagvi, for which we have obtained U.S. Food and Drug Administration (“FDA”) approval, and Proleukin, for which we have obtained FDA and European Medicines Agency (“EMA”) approval; the risk that the EMA or other ex-U.S. regulatory authorities may not approve or may delay approval for our marketing authorization application submission for lifileucel in metastatic melanoma; the acceptance by the market of our products, including Amtagvi and Proleukin, and their potential pricing and/or reimbursement by payors, if approved (in the case of our product candidates), in the U.S. and other international markets and whether such acceptance is sufficient to support continued commercialization or development of our products, including Amtagvi and Proleukin, or product candidates, respectively; future competitive or other market factors may adversely affect the commercial potential for Amtagvi or Proleukin; the risk regarding our ability or inability to manufacture our therapies using third party manufacturers or at our own facility, including our ability to increase manufacturing capacity at such third party manufacturers and our own facility, may adversely affect our commercial launch; the results of clinical trials with collaborators using different manufacturing processes may not be reflected in our sponsored trials; the risk regarding the successful integration of the recent Proleukin acquisition; the risk that the successful development or commercialization of our products, including Amtagvi and Proleukin, may not generate sufficient revenue from product sales, and we may not become profitable in the near term, or at all; the risks related to the timing of and our ability to successfully develop, submit, obtain, or maintain FDA, EMA, or other regulatory authority approval of, or other action with respect to, our product candidates; whether clinical trial results from our pivotal studies and cohorts, and meetings with the FDA, EMA, or other regulatory authorities may support registrational studies and subsequent approvals by the FDA, EMA, or other regulatory authorities, including the risk that the planned single arm Phase 2 IOV-LUN-202 trial may not support registration; 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 risk that 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, EMA, or other regulatory authorities; the risk that our interpretation of the results of our clinical trials or communications with the FDA, EMA, or other regulatory authorities may differ from the interpretation of such results or communications by such regulatory authorities (including from our prior meetings with the FDA regarding our non-small cell lung cancer clinical trials); the risk that clinical data from ongoing clinical trials of Amtagvi will not continue or be repeated in ongoing or planned clinical trials or may not support regulatory approval or renewal of authorization; the risk that unanticipated expenses may decrease our estimated cash balances and forecasts and increase our estimated capital requirements; the risk that we may not be able to recognize revenue for our products; the risk that Proleukin revenues may not continue to serve as a leading indicator for Amtagvi revenues; the risks regarding our anticipated operating and financial performance, including our financial guidance and projections; the effects of global pandemic; the effects of global and domestic geopolitical factors; and other factors, including general economic conditions and regulatory developments, not within our control. Any financial guidance provided in this press release assumes the following: no material change in our ability to manufacture our products; no material change in payor coverage; no material change in revenue recognition policies; no new business development transactions not completed as of the period covered by this press release; and no material fluctuation in exchange rates.



CONTACTS

Iovance Biotherapeutics, Inc:
Sara Pellegrino, IRC
Senior Vice President, Investor Relations & Corporate Communications
Sara.Pellegrino@iovance.com

Jen Saunders
Senior Director, Investor Relations & Corporate Communications 
Jen.Saunders@iovance.com

FAQ

How many stock options did Iovance Biotherapeutics (IOVA) grant in March 2025?

Iovance granted 308,710 shares of common stock options to 43 new non-executive employees on March 20, 2025.

What is the exercise price for IOVA's March 2025 inducement stock options?

The exercise price is $3.54, which was Iovance's common stock closing price on March 20, 2025.

What is the vesting schedule for IOVA's March 2025 inducement grants?

The options vest over 3 years: 1/3 after first year, remaining shares vest quarterly over next 2 years.

Under which plan were IOVA's March 2025 inducement grants issued?

The grants were issued under Iovance's Amended and Restated 2021 Inducement Plan, last amended on November 22, 2024.
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Biotechnology
Biological Products, (no Disgnostic Substances)
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United States
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