Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Iovance Biotherapeutics, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose material adverse facts about the company's growth potential [1] Summary by Relevant Sections Allegations - The complaint alleges that during the class period from May 9, 2024, to May 8, 2025, Iovance provided overly positive statements while concealing significant issues regarding its ability to meet demand for its treatments [1] - Key factors leading to the company's reduced revenue guidance included maintenance of the iCTC, lower than expected Proleukin sales, and the variable pace of treatment initiation at approved centers [1] Financial Impact - Following the announcement of reduced revenue guidance on July 25, 2024, Iovance's stock price plummeted from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025, marking a decline of approximately 44.795% in just one day [1] Next Steps for Shareholders - Shareholders who purchased IOVA shares during the specified class period are encouraged to register for the class action by July 14, 2025, to potentially become lead plaintiffs [2] - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2] Firm's Commitment - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices, seeking recovery for losses incurred due to misleading statements [3]

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a securities class action lawsuit due to alleged failure to disclose material information during the specified class period, leading to significant financial losses for investors [3]. Group 1: Lawsuit Details - Investors who purchased Iovance securities between May 9, 2024, and May 8, 2025, have until July 15, 2025, to file lead plaintiff applications [1]. - The lawsuit is pending in the United States District Court for the Northern District of California, under the case name Farberov v. Iovance Biotherapeutics, Inc., et al., Case No. 25-cv-4199 [5]. Group 2: Financial Performance - Iovance reported a total product revenue of $49.3 million for Q1 2025, a decline from $73.7 million in the previous quarter [4]. - The company has revised its full fiscal year 2025 total product revenue guidance from a range of $450 million - $475 million to $250 million - $300 million, reflecting recent launch dynamics [4]. - Following the announcement of these financial results, Iovance's share price fell by 44.8%, from $1.42 to $1.75 per share on May 9, 2025, with unusually heavy trading volume [4]. Group 3: Legal Representation - Kahn Swick & Foti, LLC, a prominent securities litigation law firm, is representing investors in this case, with a history of recovering investment losses due to corporate fraud [5].

Core Viewpoint - Robbins LLP has initiated a class action lawsuit on behalf of investors who purchased Iovance Biotherapeutics, Inc. securities between May 9, 2024, and May 8, 2025, alleging that the company misled investors regarding its business prospects [1][2]. Company Performance - Iovance Biotherapeutics reported a total product revenue of $49.3 million for Q1 2025, a significant decline from $73.7 million in the previous quarter [3]. - The company revised its full fiscal year 2025 total product revenue guidance from $450 million - $475 million to $250 million - $300 million, indicating a reduction of over 40% at the midpoint [3]. - The updated revenue forecast reflects challenges with the launch dynamics of Amtagvi and the growth trajectories of Authorized Treatment Centers (ATCs) [3]. Allegations and Issues - The lawsuit claims that Iovance failed to disclose several critical issues, including: 1. New ATCs faced longer timelines to begin treating patients with Amtagvi [2]. 2. Ineffectiveness of the sales team and ATCs in patient identification and selection, leading to higher patient drop-offs [2]. 3. These dynamics resulted in higher costs and lower revenue due to ATCs not keeping pace with manufactured products [2]. 4. Positive statements made by the company regarding its business and prospects were materially misleading [2]. Legal Proceedings - Shareholders interested in serving as lead plaintiffs in the class action must file their papers with the court by July 14, 2025 [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4].

Core Viewpoint - A securities class action lawsuit has been filed against Iovance Biotherapeutics, Inc. for allegedly making false or misleading statements regarding its business operations and the commercialization of its product, Amtagvi, during the class period from May 9, 2024, to May 8, 2025 [1][3]. Company Overview - Iovance is a commercial-stage biopharmaceutical company focused on developing and commercializing cell therapies for metastatic melanoma and other solid tumor cancers [2]. - The company's primary product, Amtagvi, is a tumor-derived autologous T-cell immunotherapy approved by the FDA on February 16, 2024, and launched commercially on February 20, 2024 [2]. Allegations in the Class Action - The class action claims that during the class period, the defendants failed to disclose issues such as: - New Authorized Treatment Centers (ATCs) facing longer timelines to begin patient treatment with Amtagvi [3]. - Ineffectiveness of the sales team and new ATCs in identifying and selecting patients, leading to higher patient drop-offs [3]. - Resulting higher costs and lower revenue due to ATCs not keeping pace with manufactured product [3]. - Misleading positive statements about the company's business and prospects [3]. Financial Impact - On May 8, 2025, Iovance reported a significant decline in quarterly total product revenue to $49.3 million from $73.7 million in the previous quarter [4]. - The company revised its FY25 total product revenue guidance down from $450 million-$475 million to $250 million-$300 million, citing recent launch dynamics of Amtagvi [4]. - Following this announcement, Iovance's share price dropped by $1.42, or 44.8%, closing at $1.75 per share on May 9, 2025, with unusually high trading volume [4].

Core Viewpoint - A lawsuit has been filed against Iovance Biotherapeutics, Inc. and its senior executives for potential violations of federal securities laws, following disappointing financial results and issues with its melanoma treatment, Amtagvi [1][2][5]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of California, titled Sundaram v. Iovance Biotherapeutics, Inc., et al., No. 25-cv-04177 [2]. - Investors have until July 14, 2025, to request to lead the case [2]. Group 2: Company Background - Iovance Biotherapeutics is a commercial-stage biopharmaceutical company focused on developing treatments for melanoma and other solid tumor cancers [3]. - The company launched its key melanoma treatment, Amtagvi, in February 2024 [3]. Group 3: Issues Leading to the Lawsuit - Iovance claimed that its authorized treatment centers (ATCs) would drive demand for Amtagvi; however, the ATCs faced long timelines for patient treatment and ineffective patient identification, leading to high drop-off rates [4]. - The company reported disappointing financial results for Q1 2025, revising its full-year 2025 revenue guidance due to slow treatment timelines and high patient drop-off rates [5]. Group 4: Stock Market Reaction - Following the announcement of poor financial results, Iovance's stock price fell over 44%, from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025 [6].

Core Viewpoint - Iovance Biotherapeutics, Inc. is under investigation for potential securities fraud and unlawful business practices following disappointing financial results and operational issues [1][2]. Financial Performance - For Q1 2025, Iovance reported a loss of $0.36 per share on revenue of $49 million, missing consensus estimates of a loss of $0.24 per share on revenue of $82 million [2]. - The company's operational bottleneck, caused by a 50% reduction in capacity at the Iovance Cell Therapy Center for a month in December 2024, limited the number of Amtagvi infusions available in Q1 [2]. Stock Market Reaction - Following the announcement of the financial results and operational issues, Iovance's stock price fell by $1.42 per share, or 44.79%, closing at $1.75 per share on May 9, 2025 [3].

Core Viewpoint - A lawsuit has been filed against Iovance Biotherapeutics, Inc. and certain senior executives for potential violations of federal securities laws, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1][2]. Company Overview - Iovance Biotherapeutics is a commercial-stage biopharmaceutical company focused on developing treatments for melanoma and other solid tumor cancers [3]. - The company launched its key melanoma treatment, Amtagvi, in February 2024, administered at authorized treatment centers (ATCs) [3]. Allegations and Issues - The lawsuit alleges that Iovance misrepresented the effectiveness of its ATCs in driving demand for Amtagvi, while in reality, these centers faced long timelines for patient treatment and high patient drop-off rates due to ineffective patient selection [4]. - The company reported disappointing financial results for Q1 2025, revising its full-year 2025 revenue guidance due to slow treatment timelines and high patient drop-off rates [5]. Stock Performance - Following the announcement of poor financial results, Iovance's stock price fell over 44%, from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025 [6].

Company Overview - Iovance Biotherapeutics, Inc. is a commercial-stage biopharmaceutical company focused on developing and commercializing cell therapies for metastatic melanoma and other solid tumor cancers [2] - The company's primary product, Amtagvi, is a tumor-derived autologous T-cell immunotherapy approved by the FDA on February 16, 2024, and launched commercially on February 20, 2024 [2] Class Action Lawsuit - A securities class action lawsuit has been filed against Iovance and certain current and former officers in the U.S. District Court for the Northern District of California, alleging violations of the Securities Exchange Act of 1934 [1] - The lawsuit claims that during the class period from May 9, 2024, to May 8, 2025, the defendants made false or misleading statements regarding the company's operations and prospects, particularly concerning the performance of new Authorized Treatment Centers (ATCs) [3] Financial Performance - On May 8, 2025, Iovance reported a significant decline in quarterly total product revenue, which was $49.3 million, down from $73.7 million in the previous quarter [4] - The company revised its full-year 2025 revenue guidance from a range of $450 million to $475 million down to $250 million to $300 million, citing challenges with ATC growth trajectories and treatment timelines [4] - Following the release of these financial results, Iovance's share price dropped by $1.42, or 44.8%, closing at $1.75 per share on May 9, 2025, with unusually high trading volume [4]

LOS ANGELES, May 23, 2025 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Iovance Biotherapeutics, Inc. ("Iovance" or the "Company") (NASDAQ: IOVA) have opportunity to lead the securities fraud class action lawsuit.IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN IOVANCE BIOTHERAPEUTICS, INC. (IOVA), CLICK HERE BEFORE JULY 14, 2025 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. What Is The Lawsuit About? The complaint filed ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iovance Biotherapeutics, Inc. due to allegations of false or misleading statements regarding the company's growth potential and operational capabilities [3][5]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $100,000 in Iovance between August 8, 2024, and May 8, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against Iovance, with a deadline of July 14, 2025, for investors to seek the role of lead plaintiff [3]. - The complaint alleges that Iovance and its executives violated federal securities laws by failing to disclose the true state of the company's growth potential and operational readiness [5]. Group 2: Financial Performance and Stock Impact - On July 25, 2024, Iovance announced its second-quarter financial results for fiscal 2024 and reduced its revenue guidance for the full year, attributing this to maintenance issues, lower-than-expected Proleukin sales, and a variable pace of patient treatments [6]. - Following the announcement, Iovance's stock price fell dramatically from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025, marking a decline of approximately 44.8% in just one day [6].