Goldman Sachs downgraded Iovance Biotherapeutics (IOVA) to Sell from Neutral with a price target of $1, down from $8. The firm cites the slower than expected launch of the company’s lead drug Amtagvi in second-line melanoma for the downgrade. Key opinion leader discussions and a physician survey indicate underutilization of Amtagvi due to a limited eligible patient population as well as logistical and operational complexities, the analyst tells investors in a research note.
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