The approval of Novartis’ (NVS) Kymriah is a “major leap forward” for oncology and immunotherapy, but there still remains “significant room for differentiated products,” H.C. Wainwright analyst Joseph Pantginis tells investors in a research note on Iovance Biotherapeutics (IOVA) titled “Pins Set Up: Kite Acquired and Kymriah Approved; TILs Can Knock ‘Em Down; Reiterate Buy.”
The analyst believes Iovance’s TILs, or tumor infiltrating lymphocytes, could be significantly differentiated from CAR-Ts like Kymriah. He says the TIL platform has a “significantly” more benign safety profile relative to CAR-Ts and growing evidence that it could effectively target solid tumors, an area where he thinks CAR-Ts continue to struggle. Pantginis thinks Iovance “fired another shot across the bow of CAR-Ts” with last night’s ESMO conference abstracts.
The company released preliminary data that it can generate highly active TILs from lymphoma tumors, the analyst contends. He reiterates a Buy rating on Iovance with a $16 price target. The shares closed yesterday down 30c to $5.55.
