Investigations
Iovance Biotherapeutics, Inc.
Overview
Overview
- Deadline:
- Jul 14, 2025
| Company Name: | Company Name: Iovance Biotherapeutics, Inc. |
| Stock Symbol: | Stock Symbol: IOVA |
Iovance Biotherapeutics (NASDAQ: IOVA): Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) and certain of the Company’s senior executives have been sued for violations of the federal securities laws. Two cases are pending in the U.S. District Court for the Northern District of California: Sundaram v. Iovance Biotherapeutics, Inc., et al., No. 25-cv-04177 and Farberov v. Iovance Biotherapeutics, Inc., et al., No. 25-cv-04199. The complaints assert claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Iovance securities.
If you incurred losses on your investments in Iovance, you are encouraged to submit your information.
Why was Iovance Sued for Securities Fraud?
Iovance is a commercial-stage biopharmaceutical company focused on the development of treatments for melanoma and other solid tumor cancers. The Company commercially launched its key melanoma treatment Amtagvi in February 2024. Iovance administers Amtagvi at the Company’s authorized treatment centers (“ATCs”).
As alleged, Iovance repeatedly touted its ATCs as a driver of demand for Amtagvi. For instance, Iovance asserted that “ATCs continue to drive increasing demand for Amtagvi” and told investors that patient onboarding was “complete at more than 50 U.S. ATCs across 29 states and more than 90% of addressable patients are now located within 200 miles of an ATC.”
In truth, Iovance’s ATCs were experiencing long timelines to begin treating patients with Amtagvi, and ineffective patient identification and patient selection for treatment was causing high patient drop-offs at the ATCs.
The Stock Declines as the Truth is Revealed
On May 8, 2025, Iovance reported disappointing financial results for 1Q25 and announced it was “revising full-year 2025 revenue guidance.” The Company blamed “recent launch dynamics,” including slow “treatment timelines for new ATCs” and “the variable pace at which ATCs began treating patients,” which “differs from center to center.” Iovance also blamed the poor results on high “patient drop-off” due to inadequate “patient selection” for treatment.
On this news, the price of Iovance stock declined more than 44%, from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025.
What are my Rights?
If you purchased or otherwise acquired Iovance securities, you may ask the Court no later than July 14, 2025, which is the first business day after 60 days from the date of the publication of notice of pendency, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
If you incurred losses on your investments in Iovance, you are encouraged to submit your information to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
If you incurred losses on your investments in Iovance, you are encouraged to submit your information.
Why was Iovance Sued for Securities Fraud?
Iovance is a commercial-stage biopharmaceutical company focused on the development of treatments for melanoma and other solid tumor cancers. The Company commercially launched its key melanoma treatment Amtagvi in February 2024. Iovance administers Amtagvi at the Company’s authorized treatment centers (“ATCs”).
As alleged, Iovance repeatedly touted its ATCs as a driver of demand for Amtagvi. For instance, Iovance asserted that “ATCs continue to drive increasing demand for Amtagvi” and told investors that patient onboarding was “complete at more than 50 U.S. ATCs across 29 states and more than 90% of addressable patients are now located within 200 miles of an ATC.”
In truth, Iovance’s ATCs were experiencing long timelines to begin treating patients with Amtagvi, and ineffective patient identification and patient selection for treatment was causing high patient drop-offs at the ATCs.
The Stock Declines as the Truth is Revealed
On May 8, 2025, Iovance reported disappointing financial results for 1Q25 and announced it was “revising full-year 2025 revenue guidance.” The Company blamed “recent launch dynamics,” including slow “treatment timelines for new ATCs” and “the variable pace at which ATCs began treating patients,” which “differs from center to center.” Iovance also blamed the poor results on high “patient drop-off” due to inadequate “patient selection” for treatment.
On this news, the price of Iovance stock declined more than 44%, from $3.17 per share on May 8, 2025, to $1.75 per share on May 9, 2025.
What are my Rights?
If you purchased or otherwise acquired Iovance securities, you may ask the Court no later than July 14, 2025, which is the first business day after 60 days from the date of the publication of notice of pendency, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
If you incurred losses on your investments in Iovance, you are encouraged to submit your information to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.