Replimune CRL positive for Iovance in near-term, says Chardan

Chardan analyst Geulah Livshits keeps a Buy rating on Iovance Biotherapeutics (IOVA) with a $16 price target after Replimune (REPL) received a second complete response letter from the FDA for RP1 in combination with nivolumab in adults with unresectable advanced cutaneous melanoma who had progressed after anti-PD-1 therapy. The CRL is a positive for Iovance’s Amtagvi’s near-term competitive position in post-checkpoint melanoma, the analyst tells investors in a research note. However, the firm says more direction competition from cell therapies “could be on the horizon” in 2027.