Iovance Biotherapeutics (IOVA) Faces Investor Lawsuit Over Growth Projections Following Stock Plunge

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a securities class action lawsuit for allegedly misleading investors about its growth potential and ability to meet demand for its cancer treatments [1][2]. Group 1: Lawsuit Details - The lawsuit, Farberov v. Iovance Biotherapeutics, Inc., claims that the company made overwhelmingly positive statements while concealing material adverse facts regarding its operational readiness [2][5]. - The class period for the lawsuit is from May 9, 2024, to May 8, 2025, with a lead plaintiff deadline set for July 14, 2025 [2]. Group 2: Stock Performance - On May 9, 2025, Iovance's stock price dropped approximately 44.8%, falling from $3.17 to $1.75, following the announcement of disappointing financial results and a downward revision of revenue guidance [3]. Group 3: Financial Performance - In its July 2024 announcement, Iovance attributed the lower revenue guidance to a month-long reduction in manufacturing capacity due to maintenance, lower-than-expected sales of Proleukin, and a variable pace in the treatment of patients with newer therapies [4]. Group 4: Investor Claims - Investors argue that the disclosures revealed previously concealed issues that negatively impacted the company's growth prospects, contradicting earlier positive statements about its operational readiness [5].