IOVA Stock Drops 6% on $350M Common Stock Offering

Key Takeaways Iovance launched a $350M secondary stock offering with pricing yet to be disclosed.Shares dropped 6% as investors reacted to likely dilution from the new issue.Proceeds will expand Amtagvi's reach and advance pipeline studies across cancer types.Iovance Biotherapeutics (IOVA) recently announced that it is floating a secondary issue of its common stock to raise gross proceeds worth $350 million.The pricing of this issue per share is yet to be announced.Why Did IOVA Stock Fall?Iovance’s shares f ...