Iovance Biotherapeutics(US:IOVA) GlobeNewswire News Roomยท2025-06-12 21:49Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iovance Biotherapeutics, Inc. due to allegations of violations of federal securities laws, particularly regarding misleading statements about 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]. - The firm encourages investors who suffered losses in Iovance between May 9, 2024, and May 8, 2025, to discuss their legal rights [1][3]. Group 2: Financial Performance and Stock Impact - On July 25, 2024, Iovance announced a reduction in its revenue guidance for the full fiscal year 2024, attributing this to maintenance issues, lower-than-expected Proleukin sales, and a 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: Company Background - Iovance Biotherapeutics, Inc. is involved in the biotherapeutics sector, focusing on innovative treatments, but has faced scrutiny regarding its operational effectiveness and market demand [5]. - Faruqi & Faruqi, LLP has a history of recovering hundreds of millions of dollars for investors since its establishment in 1995 [4].