Iovance Biotherapeutics, Inc.

Case Overview
23 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 07/14/2025 |
Status: | Status: Investigating |
Company Name: | Company Name: Iovance Biotherapeutics, Inc. |
Court: | Court: Northern District of California |
Case Number: | Case Number: 3:25cv04177 |
Class Period: | Class Period: 05/09/2024 - 05/08/2025 |
Ticker: | Ticker: IOVA |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NASDAQ:IOVA) securities during the period from May 9, 2024, through May 8, 2025 (“the Class Period”). Investors have until July 14, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On May 8, 2025, Iovance released its first quarter 2025 financial results, revealing a quarterly total product revenue of $49.3 million, a significant decline from the prior quarter’s $73.7 million. The Company also announced that its full fiscal year 2025 total product revenue guidance had been slashed from $450 million - $475 million to $250 million - $300 million, a reduction of over 40% at the midpoint. The Company stated it was “revising full-year 2025 revenue guidance to reflect recent launch dynamics” of the Company’s T cell immunotherapy, Amtagvi (lifileucel). Amtagvi was commercially launched in the U.S. in the first half of 2024. On this news, the price of Iovance shares declined by $1.42 per share, or approximately 44%, from $3.17 per share on May 8, 2025, to close at $1.75 on May 9, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that it was not equipped to generate and drive demand or was otherwise ill equipped to capitalize upon the purported existing demand for its treatment through its network of approved treatment centers.
On May 8, 2025, Iovance released its first quarter 2025 financial results, revealing a quarterly total product revenue of $49.3 million, a significant decline from the prior quarter’s $73.7 million. The Company also announced that its full fiscal year 2025 total product revenue guidance had been slashed from $450 million - $475 million to $250 million - $300 million, a reduction of over 40% at the midpoint. The Company stated it was “revising full-year 2025 revenue guidance to reflect recent launch dynamics” of the Company’s T cell immunotherapy, Amtagvi (lifileucel). Amtagvi was commercially launched in the U.S. in the first half of 2024. On this news, the price of Iovance shares declined by $1.42 per share, or approximately 44%, from $3.17 per share on May 8, 2025, to close at $1.75 on May 9, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that it was not equipped to generate and drive demand or was otherwise ill equipped to capitalize upon the purported existing demand for its treatment through its network of approved treatment centers.