Wells Fargo analyst Jim Birchenough said he believes weakness in shares of Iovance Biotherapeutics may be related to concern regarding the potential for a dilutive financing following the company's release of "positive" data from the phase 2 study of lifileucel in melanoma. However, he has spoken with management and they have confirmed adequate cash and said they do not need additional capital at the current time, Birchenough said. He believes any financing concerns are misplaced and would be a buyer on the weakness, added the analyst, who has an Outperform rating on Iovance shares.