SAN CARLOS, Calif., April 18, 2025 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a pioneering biotechnology company, is making significant strides in the field of cancer treatment. With a strong commitment to innovating, developing, and delivering groundbreaking therapies, today the company announced an important step in its growth strategy. On April 17, 2025, referred to as the "Date of Grant," Iovance approved the grant of inducement stock options for a total of 297,600 shares of its common stock. These options are designated for fifty new, non-executive employees who have recently joined the team.

The stock options were awarded under Iovance's Amended and Restated 2021 Inducement Plan. This plan, which reflects the companys dedication to attracting top talent, was first adopted on September 22, 2021, and has undergone several amendments, the most recent of which occurred on November 22, 2024. The purpose of this plan is to enable the company's compensation committee to grant equity awards to newly hired employees in accordance with the Nasdaq Listing Rule 5635(c)(4). Each of the stock options comes with an exercise price of $3.06, which corresponds to the closing price of Iovance's common stock on the Date of Grant.

Vesting of the stock options is structured to occur over a three-year period. Specifically, one-third of the shares will vest on the first anniversary of each employee's start date, known as the "First Vesting Date." The remaining shares will then vest in eight quarterly installments during the subsequent two years, starting with the first quarter following the First Vesting Date, contingent upon the employee's continued employment with Iovance.

About Iovance Biotherapeutics, Inc.

Iovance Biotherapeutics aims to establish itself as a global leader in the innovation and development of tumor infiltrating lymphocyte (TIL) therapies for cancer patients. The company is at the forefront of a transformative approach that seeks to harness the power of the human immune system to identify and attack various cancer cells. The Iovance TIL platform has produced encouraging clinical results across multiple solid tumors, underscoring its potential in cancer treatment.

Notably, Iovances product, Amtagvi, holds the distinction of being the first T cell therapy that has received approval from the FDA specifically for a solid tumor indication. The company is dedicated to ongoing innovation in cell therapy, including advancements in gene-edited cell therapy, which may significantly enhance and extend the lives of individuals battling cancer. For further details about their initiatives and research, interested parties are encouraged to visit Sara.Pellegrino@iovance.com
Jen Saunders
Senior Director, Investor Relations & Corporate Communications
267-485-3119
Jen.Saunders@iovance.com