Core Points - The Gross Law Firm has issued a notice to shareholders of Iovance Biotherapeutics, Inc. regarding a class action lawsuit for shareholders who purchased shares during the specified class period [1] - The class period is defined as May 9, 2024, to May 8, 2025, with allegations that Iovance provided misleading statements about its growth potential while concealing material adverse facts [3] - Following the announcement of disappointing financial results and a revenue guidance reduction on July 25, 2024, Iovance's stock price fell dramatically by approximately 44.795% in one day, from $3.17 to $1.75 per share [3] Allegations and Financial Impact - The complaint alleges that Iovance was not equipped to generate demand for its treatments and failed to capitalize on existing demand through its treatment centers [3] - The company attributed its poor financial results and lowered guidance to several factors, including maintenance of its iCTC, lower-than-expected Proleukin sales, and the variable pace of treatment initiation by ATCs [3] - The significant drop in stock price indicates a severe market reaction to the company's financial disclosures and guidance adjustments [3] Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 14, 2025, to participate in potential recovery efforts [4] - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [4] - There is no cost or obligation for shareholders to participate in the class action [4]

Core Viewpoint - Iovance Biotherapeutics, Inc. has appointed Dr. Marc R. Theoret as Senior Vice President of Regulatory Strategy to enhance its clinical regulatory strategy for its pipeline of tumor infiltrating lymphocyte (TIL) therapies for cancer patients [1][4]. Company Overview - Iovance Biotherapeutics focuses on innovating, developing, and delivering novel TIL therapies aimed at treating cancer, with a commitment to harnessing the human immune system to target diverse cancer cells [4]. - The company’s TIL platform has shown promising clinical data across various solid tumors, and its product Amtagvi is the first FDA-approved T cell therapy for a solid tumor indication [4]. Dr. Marc R. Theoret's Background - Dr. Theoret has over 15 years of experience at the U.S. FDA, particularly in the Oncology Center of Excellence, where he led regulatory reviews for drugs and biologics related to hematological malignancies and solid tumors [2]. - He has held significant roles, including Deputy Center Director at the OCE and Acting Supervisory Associate Director in the Office of Oncologic Diseases, contributing to the approval of numerous oncology applications [2]. - Prior to his FDA tenure, Dr. Theoret conducted adoptive cellular therapy trials and translational research at the National Cancer Institute [3]. Strategic Importance - The appointment of Dr. Theoret is expected to significantly enhance Iovance's regulatory strategies and support the advancement of its pipeline across multiple solid tumor cancers [4].

Core Insights - Iovance Biotherapeutics Inc. is undergoing a leadership transition with the resignation of CFO Jean-Marc Bellemin, effective July 10, 2025, amid commercial challenges and a class-action lawsuit [1][2][3] Leadership Transition - CFO Jean-Marc Bellemin's resignation aligns with his executive employment agreement and comes at a critical time for the company, which has not yet named a successor [2] - Bellemin has been in the CFO role since November 2020 [1] Commercial Challenges - Iovance's flagship drug, Amtagvi, has faced significant commercial setbacks, with first-quarter sales falling short of Wall Street expectations, leading to a revision of full-year revenue projections [3][6] - Following the disappointing sales figures and revenue guidance, Iovance's stock price dropped over 44%, from $3.17 to $1.75 per share within a day [7] Legal Issues - The company is defending against a class-action securities fraud lawsuit, which alleges misleading statements regarding the operational readiness of its authorized treatment centers (ATCs) crucial for Amtagvi's administration [4][5] - The lawsuit claims that ATCs have not been able to initiate treatments in a timely manner, leading to high patient drop-off rates [5] Market Reaction - The market reacted negatively to the company's underwhelming performance and the subsequent legal challenges, indicating investor concerns about Iovance's commercial execution and transparency [6][7] - Hagens Berman, a law firm, is investigating the allegations and the accuracy of Iovance's public statements regarding Amtagvi [8][9]

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 identification and selection [4]. - Following disappointing financial results for Q1 2025, Iovance revised its full-year 2025 revenue guidance, attributing the poor performance to slow treatment timelines and high patient drop-off rates [5]. Stock Performance - On May 8, 2025, Iovance's stock price fell over 44%, dropping from $3.17 per share to $1.75 per share the following day, in response to the negative news regarding its financial performance and operational challenges [6].

Core Viewpoint - A class action lawsuit has been filed against Iovance Biotherapeutics, Inc. for misleading statements made during the Class Period from May 9, 2024, to May 8, 2025, which allegedly resulted in investor losses [1][3]. Group 1: Lawsuit Details - The lawsuit claims that Iovance made false or misleading statements regarding the initiation of patient treatments at newly authorized treatment centers (ATCs) [3]. - It is alleged that Iovance's sales team and ATCs faced challenges in effectively identifying and selecting patients, leading to higher patient drop-off rates [3]. - These operational issues reportedly resulted in increased costs and reduced revenue, as ATCs could not keep pace with product manufacturing [3]. - The lawsuit contends that the positive statements made by Iovance regarding its business and outlook were materially misleading or lacked a reasonable basis [3]. Group 2: Investor Actions - Investors who purchased Iovance securities during the Class Period have until July 14, 2025, to file a lead plaintiff motion [1]. - The Portnoy Law Firm is offering complimentary case evaluations to discuss options for recovering losses [2][4].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased securities of Iovance Biotherapeutics, Inc. during the specified Class Period of the upcoming lead plaintiff deadline on July 14, 2025, for a class action lawsuit [1][2] Group 1: Class Action Details - The class action lawsuit claims that Iovance made false and misleading statements regarding the effectiveness of new Authorized Treatment Centers (ATCs) in treating patients with Amtagvi, leading to higher costs and lower revenue [3] - Investors who purchased Iovance securities between May 9, 2024, and May 8, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1][2] Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering significant amounts for investors [4] - The firm has been recognized for its achievements in securities class action settlements, including a notable settlement against a Chinese company and ranking highly in the number of settlements since 2013 [4]

Core Viewpoint - Iovance Biotherapeutics Inc. is undergoing a leadership transition with the resignation of CFO Jean-Marc Bellemin amid commercial challenges and a class-action lawsuit related to its flagship drug Amtagvi [1][2][3]. Group 1: Leadership Transition - CFO Jean-Marc Bellemin will resign effective July 10, 2025, to pursue other endeavors, having held the position since November 2020 [1][2]. - The company has not yet named a successor for the CFO role, creating uncertainty during a challenging period [2]. Group 2: Commercial Challenges - Iovance's first-quarter sales for Amtagvi significantly underperformed expectations, leading to a downward revision of full-year revenue projections [3]. - The company's stock price fell over 44%, from $3.17 on May 8, 2025, to $1.75 by the close of trading on May 9, 2025, reflecting investor concerns about commercial execution [7]. Group 3: Legal Issues - Iovance is facing a class-action lawsuit alleging securities fraud related to the company's portrayal of its authorized treatment centers (ATCs) and their role in driving demand for Amtagvi [4][5]. - The lawsuit claims that ATCs experienced delays in initiating treatments and inefficiencies in patient selection, leading to higher patient drop-off rates [5][6]. - Hagens Berman is investigating the allegations to determine if the company's public statements were consistent with internal realities [8].

Core Insights - Iovance Biotherapeutics, Inc. is facing potential shareholder litigation due to undisclosed operational issues affecting its T cell immunotherapy product, Amtagvi [1] - The company reported a significant decline in quarterly product revenue and drastically reduced its full-year revenue guidance for 2025 [2] - Following the financial results announcement, Iovance's stock price experienced a dramatic drop of approximately 44.8% in one day [3] Financial Performance - Iovance's total product revenue for Q1 2025 was $49.3 million, down from $73.7 million in the previous quarter, indicating a decline of about 33% [2] - The full fiscal year 2025 revenue guidance was revised from a range of $450 million - $475 million to $250 million - $300 million, representing a reduction of over 40% at the midpoint [2] Stock Market Reaction - On May 8, 2025, Iovance's stock closed at $3.17 per share, but fell to $1.75 per share on May 9, 2025, marking a decline of about 44.8% [3]

Core Viewpoint - A lawsuit has been filed against Iovance Biotherapeutics, Inc. and certain senior executives for potential violations of federal securities laws, specifically related to the company's performance and treatment timelines for its melanoma drug Amtagvi [1][2]. Company Overview - Iovance Biotherapeutics is a commercial-stage biopharmaceutical company focused on developing treatments for melanoma and other solid tumor cancers [3]. Product Launch and Issues - Iovance launched its key melanoma treatment, Amtagvi, in February 2024, but has faced challenges with its authorized treatment centers (ATCs) [3]. - The company claimed that its ATCs would drive demand for Amtagvi; however, there were long timelines for patient treatment initiation and ineffective patient identification, leading to high patient drop-offs [4]. Financial Performance - On May 8, 2025, Iovance reported disappointing financial results for the first quarter of 2025 and revised its full-year 2025 revenue guidance downward due to "recent launch dynamics" and high patient drop-off rates [5]. - Following the announcement, Iovance's stock price fell over 44%, from $3.17 per share to $1.75 per share within a day [6].

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a class action lawsuit due to allegations of providing misleading statements about its growth potential and financial performance, leading to significant stock price decline [1][3]. Group 1: Allegations and Financial Performance - The class period for the lawsuit is from May 9, 2024, to May 8, 2025 [3]. - Allegations include that Iovance made overwhelmingly positive statements while concealing material adverse facts about its ability to generate demand for its treatments [3]. - On July 25, 2024, Iovance announced a reduction in revenue guidance for fiscal year 2024, attributing it to maintenance issues, lower-than-expected Proleukin sales, and a variable pace of treatment initiation [3]. - Following the announcement, 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 one day [3]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 14, 2025, to participate in potential recovery [4]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case's status [4]. - There is no cost or obligation for shareholders to participate in the case [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5].