Shares of Iovance Biotherapeutics Inc.
fell 11.4% in premarket trading on Friday after the company said it received feedback from the Food and Drug Administration on its submission for lifileucel, an investigational melanoma treatment. Iovance said it plans to address the FDA’s comments “promptly,” and the application is now expected to be completed in the first three months of next year. The company’s stock is down 62.8% this year, while the S&P 500
has slipped 17.2%.