Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Iovance Biotherapeutics, Inc. (IOVA)

Core Viewpoint - A securities class action lawsuit has been filed against Iovance Biotherapeutics, Inc. for allegedly misleading investors regarding the company's performance and treatment timelines for its product Amtagvi during the class period from May 9, 2024, to May 8, 2025 [1][2]. Group 1: Allegations and Company Performance - The lawsuit claims that Iovance made false statements and failed to disclose critical issues, including delays in treatment timelines at new Authorized Treatment Centers (ATCs) and inefficiencies in patient identification, leading to increased costs and reduced revenue [2]. - Iovance reported a significant decline in quarterly total product revenue, dropping to $49.3 million from$73.7 million in the previous quarter, and slashed its full fiscal year 2025 revenue guidance from $450 million -$475 million to $250 million -$300 million, representing a reduction of over 40% at the midpoint [3]. - Following the release of these financial results, Iovance's share price fell by $1.42, or 44.8$1.75 per share on May 9, 2025, amid unusually high trading volume [3]. Group 2: Legal Proceedings - Investors who acquired shares of Iovance during the class period are encouraged to contact the law firm Gainey McKenna & Egleston before the lead plaintiff motion deadline of July 15, 2025 [4].