Iovance Stock Surges as Strong Melanoma Drug Demand Drives Growth

Shares of Iovance Biotherapeutics surged Tuesday after the biotech company raised its fiscal-year revenue guidance, thanks to rising demand for a pair of melanoma treatments. Iovance stock rose 28% to $14.06, pacing toward its highest close since May 7, 2024, when shares reached $13.98, according to Dow Jones Market Data. Iovance raised its fiscal 2026 revenue guidance to between $410 million and $420 million, driven by strong U.S. demand for Amtagvi and Proleukin, the company said.