IOVA 4-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] Leadership Transition - CFO Jean-Marc Bellemin's resignation aligns with his executive employment agreement and comes at a critical time for the company, which has not yet named a successor [2] - Bellemin has been in the CFO role since November 2020 [1] Commercial Challenges - Iovance's flagship drug, Amtagvi, has faced significant commercial setbacks, with first-quarter sales falling short of Wall Street expectations, leading to a revision of full-year revenue projections [3][6] - Following the disappointing sales figures and revenue guidance, Iovance's stock price dropped over 44%, from $3.17 to $1.75 per share within a day [7] Legal Issues - The company is defending against a class-action securities fraud lawsuit, which alleges misleading statements regarding the operational readiness of its authorized treatment centers (ATCs) crucial for Amtagvi's administration [4][5] - The lawsuit claims that ATCs have not been able to initiate treatments in a timely manner, leading to high patient drop-off rates [5] Market Reaction - The market reacted negatively to the company's underwhelming performance and the subsequent legal challenges, indicating investor concerns about Iovance's commercial execution and transparency [6][7] - Hagens Berman, a law firm, is investigating the allegations and the accuracy of Iovance's public statements regarding Amtagvi [8][9]