Why Iovance Biotherapeutics Stock Soared 12% Higher Today

Investors were more than cheered by a business update from cancer-focused biotech Iovance Biotherapeutics (NASDAQ: IOVA) on Monday. For Proleukin, an interleukin-2 molecule used to stimulate T-cell activity in the fight against cancer, Iovance is making an upfront payment of 166.7 million British pounds ($206.6 million). It is also on the hook for a 41.7 million pound ($51.7 million) milestone payment upon first approval of its leading pipeline therapy, advanced melanoma treatment Lifileucel, and what it described only as double-digit worldwide sales royalties derived from Proleukin.