IOVA Stock Heads For Worst Day In Over 17 Months, Retail Says ‘Selling Is Not Done’ – What’s Driving The Fall?

• Of the 69 patients treated, 17 responded, representing an objective response rate of 24.6%.
• A smaller group of 22 patients, selected based on genetic characteristics and smoking history, achieved a 59.1% response rate.
• IOVA fell below its 50-DMA for the first time in nearly three months.

Shares of Iovance Biotherapeutics (IOVA) crashed more than 32% on Thursday, putting the stock on track for its worst session since May 2025, after the biotech firm posted updated lung cancer trial results.

The sell-off also pushed IOVA stock below its 50-day moving average (50-DMA) for the first time in nearly three months.

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Updated Data Shows Varied Results Across Patient Groups

Iovance reported updated results from its Phase 2 IOV-LUN-202 trial, evaluating Lifileucel in patients with metastatic non-squamous non-small-cell lung cancer (mNSCLC) whose disease had worsened despite chemotherapy and immunotherapy.

Of the 69 patients treated, 17 responded, representing an objective response rate (ORR) of 24.6%. This means 17 patients saw their tumors shrink or disappear following treatment.

The results were marginally lower than the previously reported 25.6% response rate in 39 patients.

However, results varied across patient groups. Those without a KRAS gene mutation had a 43.3% response rate, compared with 11.4% among patients with the mutation. The mutation causes uncontrolled cell division. A smaller group of 22 patients, selected based on genetic characteristics and smoking history, achieved a 59.1% response rate.

Iovance plans to begin enrolling patients in a new study in November 2026 to confirm these findings and support a potential registrational pathway.

Lifileucel Is Being Tested In Other Cancers

Lifileucel is already approved by the U.S. Food and Drug Administration (FDA) and is marketed as Amtagvi to treat melanoma. Iovance is also studying the therapy in soft tissue sarcoma and endometrial cancer.

As of June 30, the company held $303.7 million in cash, short-term investments and restricted cash, which it expects to fund operations into the second half of 2028.

Retail Chatter Is Mixed On IOVA Selloff

Retail sentiment surrounding IOVA on Stocktwits turned ‘extremely bullish’ from ‘neutral’ over the past 24 hours, amid a 520% surge in message volumes. IOVA was also among the top trending tickers on the platform.

One user said the selling isn’t done and the stock could test support at $8 in the next few days. It is currently trading close to $10.

Another user expects the stock to climb back to $15.

IOVA has been among the top biotech performers so far this year, surging more than 300%.

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