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] Group 1: Leadership Changes - CFO Jean-Marc Bellemin's resignation is effective July 10, 2025, and he is leaving to pursue other endeavors [1][2] - Bellemin's departure aligns with the terms of his executive employment agreement, and a successor has not yet been named [2] Group 2: Commercial Performance - Iovance's flagship drug, Amtagvi, has faced significant commercial setbacks, with first-quarter sales underperforming Wall Street expectations [3] - The company has revised its full-year revenue projections downward, leading to a downgrade from UBS [3] Group 3: Legal Challenges - Iovance is defending against a class-action securities fraud lawsuit related to its portrayal of authorized treatment centers (ATCs) crucial for Amtagvi's administration [4][5] - The lawsuit alleges discrepancies between the company's claims about ATC operations and the actual performance, including delays in patient treatment initiation and high patient drop-off rates [5][6] Group 4: Market Reaction - Following the disclosure of disappointing first-quarter results and revised revenue guidance, Iovance's stock fell over 44%, from $3.17 per share to $1.75 per share within a day [6][7] - The market's swift reaction reflects investor concerns regarding the company's commercial execution and the accuracy of its operational updates [7]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iovance Biotherapeutics, Inc. due to allegations of false and misleading statements regarding the company's growth potential and operational capabilities [3][5]. Group 1: Legal Investigation and Class Action - 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]. - Investors who suffered losses exceeding $100,000 in Iovance between August 8, 2024, and May 8, 2025, are encouraged to contact the law firm for discussions on their legal rights [1][3]. 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 the variable pace of treatment initiation [6]. - 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 44.8% in just one day [6]. Group 3: Allegations Against Iovance - The complaint against Iovance alleges that the company and its executives violated federal securities laws by failing to disclose the true state of the company's growth potential and operational readiness to meet demand for its treatments [5].

Core Viewpoint - A lawsuit has been filed against Iovance Biotherapeutics, Inc. and certain senior executives for potential violations of federal securities laws, specifically 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 as a driver of 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 financial news [6].

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 - 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]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by July 14, 2025 [2]. - The lawsuit alleges that Iovance made false and misleading statements regarding the effectiveness of its sales team and new Authorized Treatment Centers (ATCs), which led to higher costs and lower revenue [3]. Group 2: Allegations Against Iovance - The lawsuit claims that new ATCs faced longer timelines to begin treating patients, and the sales team was ineffective in patient identification and selection, resulting in higher patient drop-offs [3]. - These dynamics contributed to a situation where ATCs could not keep pace with manufactured products, leading to misleading positive statements about Iovance's business and operations [3]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions, highlighting its own achievements in recovering hundreds of millions for investors [4]. - The firm has been recognized for its performance in securities class action settlements, including a notable settlement of over $438 million in 2019 [4].

Efficacy Highlights - The study demonstrated a high Objective Response Rate (ORR) of 65.2% in ICI-naive advanced melanoma patients treated with lifileucel + pembrolizumab [25], with a Complete Response (CR) rate of 30.4% [25] - All response-evaluable patients (N=22) showed regression of target lesions [5, 25] - The median Duration of Response (mDOR) was not reached, indicating durable responses, with a median follow-up of 21.7 months [36, 39] - 73.3% of responders had a Duration of Response (DOR) of at least 6 months, and 53.3% had a DOR of at least 12 months [36] Safety Profile - The safety profile of lifileucel combined with pembrolizumab is considered manageable and differentiated from ICI combination regimens [5, 51] - Common non-hematologic Treatment-Emergent Adverse Events (TEAEs) included chills (82.6%), pyrexia (78.3%), and nausea (78.3%) [18] - Grade 3/4 hematologic lab abnormalities, such as neutropenia, lymphopenia, leukopenia, and thrombocytopenia, resolved to Grade ≤2 by Day 30 in a high percentage of patients (ranging from 78.3% to 100%) [22] Trial Design and Future Directions - IOV-COM-202 is a Phase 2, multicohort, multicenter study evaluating lifileucel + pembrolizumab in patients with solid tumors, including ICI-naive melanoma [9, 10] - These results support the ongoing TILVANCE-301, a registrational, randomized Phase 3 trial assessing lifileucel + pembrolizumab in frontline advanced melanoma [5, 43]

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted investors between May 9, 2024, and May 8, 2025 [1][2]. Group 1: Allegations and Financial Impact - The lawsuit claims that Iovance provided misleadingly positive statements while concealing material adverse facts about its growth potential and ability to meet demand for its treatments [2]. - On July 25, 2024, Iovance announced a reduction in its revenue guidance for fiscal year 2024, attributing this to maintenance issues, lower-than-expected Proleukin sales, and a variable pace of treatment initiation at approved centers [2]. - 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 44.8% in one day [2]. Group 2: Legal Proceedings and Participation - Investors who suffered losses during the specified period have until July 14, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

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 a significant drop in stock price [1][2]. Summary by Relevant Sections Allegations - The complaint claims that during the class period from May 9, 2024, to May 8, 2025, Iovance made overwhelmingly positive statements while concealing material adverse facts about its ability to generate demand for its treatments [1]. - The company announced reduced revenue guidance for fiscal year 2024, attributing this to maintenance issues, lower-than-expected Proleukin sales, and a variable pace in treatment initiation [1]. Financial Impact - Following the announcement of reduced guidance, 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 [1]. Next Steps for Shareholders - Shareholders who purchased Iovance 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 regarding the case's progress [2]. Law Firm's Commitment - The Gross Law Firm aims to protect investors' rights and seeks recovery for losses incurred due to misleading statements that artificially inflated Iovance's stock price [3].

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a class action lawsuit due to allegations of providing misleading statements about its growth potential while failing to meet revenue expectations, leading to a significant drop in stock price [1][3]. Summary by Relevant Sections Class Period and Allegations - 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]. Financial Performance and Stock Impact - On July 25, 2024, Iovance announced disappointing financial results for Q2 2024 and reduced its revenue guidance for the full fiscal year 2024 [3]. - Contributing factors to the lowered guidance included maintenance of the iCTC, lower than expected Proleukin sales, and a variable pace of treatment initiation at approved centers [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 44.8% in one day [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 14, 2025, to potentially become lead plaintiffs [4]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case [4]. Law Firm Information - The Gross Law Firm is representing the shareholders and is recognized for its commitment to protecting investor rights against deceit and fraud [5].

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 as a driver of 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, citing slow treatment timelines and high patient drop-off as contributing factors [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. concerning allegations of securities fraud and unlawful business practices [2][4]. Financial Performance - Iovance reported a total product revenue of $49.3 million for Q1 2025, down from $73.7 million in the previous quarter, indicating a significant decline [4]. - The company revised its full fiscal year 2025 total product revenue guidance from a range of $450 million - $475 million to $250 million - $300 million, representing a reduction of over 40% at the midpoint [4]. - The updated revenue forecast reflects recent launch dynamics affecting Amtagvi, the company's lead product candidate, and considers growth trajectories and treatment timelines for new authorized treatment centers (ATCs) [4]. Stock Market Reaction - Following the financial results announcement, Iovance's stock price fell by $1.42 per share, or 44.79%, closing at $1.75 per share on May 9, 2025 [4].