Lead Plaintiff Deadline is July 14, 2025 for Investors of Iovance Biotherapeutics, Inc. (IOVA)
NEW YORK, NY - June 28, 2025 ( NEWMEDIAWIRE ) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Iovance Biotherapeutics, Inc. ('Iovance' or the 'Company') (NASDAQ: IOVA) on behalf of investors that purchased or otherwise acquired Iovance securities between May 9, 2024 and May 8, 2025 (the 'Class Period').
CLICK HERE TO JOIN THE CASE
If you are an investor in Iovance and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than July 14, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On May 8, 2025, after the markets closed, Iovance announced its first quarter 2025 financial results. The Company revealed that total product revenue for the quarter was $49.3 million, a decline from the prior quarter's reported revenue of $73.7 million. The Company also disclosed that full fiscal year 2025 revenue guidance was being revised to $250 million to $300 million from previous guidance of $450 million to $475 million. Iovance stated that it was 'revising full-year 2025 revenue guidance to reflect recent launch dynamics' of the Company's T cell immunotherapy, Amtagvi (lifileucel). Amtagvi was approved by the U.S. Food and Drug Administration in February 2024 and was commercially launched in the first half of 2024.
Following this news, the price of Iovance stock fell $1.42 per share, nearly 45%, to close at $1.75 per share on May 9, 2025.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that Defendants, (i) new Authorized Treatment Centers were experiencing longer timelines to begin treating patients with Amtagvi; (ii) the Company's sales team and new ATCs were ineffective in patient identification and patient selection for Amtagvi, leading to higher patient drop-offs; and (iii) the foregoing dynamics led to higher costs and lower revenue because ATCs could not keep pace with manufactured product.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
[email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
[email protected]
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
https://www.kaplanfox.com/case/iovance-biotherapeutics-inc/
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