Robbins LLP Reminds IOVA Stockholders That a Class Action Lawsuit was Filed Against Iovance Biotherapeutics, Inc. Alleging the Company Misled Investors Regarding its Business Prospects

Core Viewpoint - A class action lawsuit has been filed against Iovance Biotherapeutics, Inc. for allegedly misleading investors about its business prospects, particularly regarding the launch dynamics of its cell therapy product, Amtagvi [1][2]. Company 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 [3]. - The company revised its full fiscal year 2025 revenue guidance from a range of $450 million - $475 million to $250 million - $300 million, representing a reduction of over 40% at the midpoint [3]. - The updated revenue forecast reflects challenges with the growth trajectories and treatment timelines for new Authorized Treatment Centers (ATCs) [3]. Allegations and Investigation - The lawsuit alleges that Iovance failed to disclose critical issues, including longer timelines for new ATCs to begin treating patients, inefficiencies in patient identification and selection, and the resulting higher costs and lower revenues [2]. - The complaint claims that these undisclosed factors rendered the company's positive statements about its business and prospects materially misleading [2]. Legal Proceedings - Shareholders interested in participating as lead plaintiffs in the class action must file their papers 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].