Latham & Watkins Advises on Iovance Biotherapeutics, Inc.’s Pricing of Its Public Offering of US$150 Million of Common Stock

Iovance Biotherapeutics, Inc. (Nasdaq: IOVA), a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte therapies for patients with cancer, has announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a public offering price of US$7.50 per share. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are expected to be approximately US$150 million. In addition, Iovance has granted the underwriters a 30-day option to purchase up to 3,000,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about July 13, 2023, subject to customary closing conditions.

Latham & Watkins LLP advised the underwriters in the transaction with a capital markets team led by San Diego partners Matt Bush and Cheston Larson, and counsel Anthony Gostanian, with associates Brian Daley and Emilie McConnachie.