Shares of Iovance Biotherapeutics, Inc. ( IOVA ) are trading lower on Friday. The company announced the inducement stock option grants under Nasdaq Listing Rule 5635(c)(4).

What To Know: On Dec. 19 2024, Iovance approved options for 203,980 shares of its common stock to 48 new non-executive employees, granted at an exercise price of $7.22, equivalent to the stock’s closing price on the date of the grant.

The options will vest over three years, with one-third vesting after the first year and the remaining shares vesting quarterly over the subsequent two years, contingent on continued employment. The grants were issued under the company's Amended and Restated 2021 Inducement Plan, which has undergone multiple amendments, the latest being on Nov. 22, 2024.

Iovance Biotherapeutics ( IOVA ) specializes in tumor-infiltrating lymphocyte (TIL) therapies for cancer, with its platform showing promise in multiple solid tumors. Its product, Amtagvi, is noted as the first FDA-approved T-cell therapy for solid tumors.

IOVA Price Action: Iovance shares were down 8.28% at $6.58 at the time of writing, according to Benzinga Pro.

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