IOVA 8-DAY DEADLINE ALERT: Iovance's (IOVA) Promising Cell Therapy Falters Triggering UBS Downgrades and Investor Lawsuit – Hagens Berman

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]