Why Iovance Biotherapeutics Stock Got Mashed on Monday

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on the stock market. It also won't be marked as a great day for shareholders of biotech Iovance Biotherapeutics (NASDAQ: IOVA). The company spooked investors with the disclosure that it's embarking on a new round of potentially dilutive capital raising.That sent the company's share price down by nearly 6% today, quite some distance down the ladder from the S&P 500 index's 0.4% decline.Iovance, a commercial-stage biotech that focuses on novel treatments for cancer, divulged the measure in two regulatory filings published after market hours Friday. The filings detailed plans to raise up to $350 million in an at-the-market, secondary issue of its common stock.Image source: Getty Images.Iovance has drafted financial services company Jefferies to be its sales agency in the flotation. In return for this work, Jefferies will earn a commission of 3% of the total gross proceeds of the issue.The biotech is keeping the timing loose; in boilerplate language, it stated that the share sales would be effected by Jefferies "from time to time, based upon instructions from the Company."In the prospectus on the issue, Iovance said it will use the proceeds to boost the commercial prospects of its leading drug, Amtagvi. It will also devote funds to its investigational programs, as well as undefined "general corporate purposes."Dilution is a legitimate concern in this case, even if Iovance ultimately ends up selling half as many shares as the maximum amount stated. Just now its market cap is over $915 million, so this flotation could be significantly dilutive indeed.Before you buy stock in Iovance Biotherapeutics, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Iovance Biotherapeutics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $649,657!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,993!*Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,482.00 -0.50 (-0.01%)Dow Futures45,482.00 -7.00 (-0.02%)Nasdaq Futures23,587.50 -4.00 (-0.02%)Russell 2000 Futures2,360.70 -3.40 (-0.14%)VIX14.83 +0.21 (+1.44%)Gold3,432.90 -0.10 (-0.00%)PortfolioSign in to access your portfolioSign inTop gainersSATS EchoStar Corporation 50.87 +20.99 (+70.25%)SMTC Semtech Corporation 58.72 +7.72 (+15.14%)HSAI Hesai Group 26.67 +3.29 (+14.07%)UUUU Energy Fuels Inc. 12.31 +1.38 (+12.63%)LEU Centrus Energy Corp. 208.67 +23.39 (+12.62%)Top losersNEGG Newegg Commerce, Inc. 67.03 -17.97 (-21.14%)KDP Keurig Dr Pepper Inc. 28.95 -2.15 (-6.91%)FUN Six Flags Entertainment Corporation 24.00 -1.48 (-5.81%)BWLP BW LPG Limited 15.10 -0.89 (-5.57%)CRGY Crescent Energy Company 9.02 -0.52 (-5.45%)Most activeOPEN Opendoor Technologies Inc. 4.7000 +0.1600 (+3.52%)NIO NIO Inc. 6.70 +0.61 (+10.02%)NVDA NVIDIA Corporation 181.77 +1.94 (+1.08%)WBA Walgreens Boots Alliance, Inc. 11.92 -0.05 (-0.42%)LCID Lucid Group, Inc. 2.1100 +0.0300 (+1.44%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersMDB MongoDB, Inc. 214.34 -4.10 (-1.88%)NVDA NVIDIA Corporation 181.77 +1.94 (+1.08%)OKTA Okta, Inc. 91.56 +0.20 (+0.22%)SNOW Snowflake Inc. 194.35 -0.33 (-0.17%)UNH UnitedHealth Group Incorporated 300.43 -4.43 (-1.45%)Top economic events