NEW ORLEANS, May 28, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 15, 2025 to file lead plaintiff applications in a securities class action lawsuit against Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NasdaqGM: IOVA), if they purchased the Company’s securities between May 9, 2024 and May 8, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
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Iovance investors should visit us at https://claimsfiler.com/cases/nasdaq-iova/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Iovance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 8, 2025, the Company announced its 1Q 2025 financial results, disclosing a quarterly total product revenue of $49.3M, a significant decline from the prior quarter’s $73.7M, as well as a 40% cut to its full fiscal year 2025 total product revenue guidance from a range of $450M – $475M to $250M – $300M. Further, the Company revealed it was “revising full-year 2025 revenue guidance to reflect recent launch dynamics” of Amtagvi and that “[t]he updated forecast considers experience with ATC [authorized treatment center] growth trajectories and treatment timelines for new ATCs.”
On this news, the price of Iovance’s shares fell 44.8%, from $1.42 per share to close at $1.75 per share on May 9, 2025, on unusually heavy trading volume.
The case is Farberov v. Iovance Biotherapeutics, Inc., et al., Case No. 25-cv-4199.
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