$Iovance Biotherapeautics(IOVA.US) rose +43%, with Q2 revenue at $99.31 million, up 66% year-over-year, and operating losses narrowing to $51.91 million; $Caris Life Sciences(CAI.US) rose +22%, with Q2 revenue of $264 million beating expectations and full-year guidance raised.
Both delivered solid revenue growth, but the question is: since so much of the expectation was already priced in on earnings day, how much room is left? The ramp-up curve for Amtagvi has just begun, and the upward revision in molecular diagnostics hasn't been fully priced in yet. From a fundamental perspective, it's far from the peak.
However, entering after a single-day 40% surge means your cost basis is no longer attractive—first see if it can hold above the 30-day moving average during a pullback, then decide whether to add.
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