NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) — Moore Law, PLLC, a shareholder litigation law firm located on Wall Street, is investigating potential claims against:
- Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)
Between May 9, 2024 and May 8, 2025, Iovance and/or the officers or directors failed to disclose to investors that: (1) new Authorized Treatment Centers were experiencing longer timelines to begin treating patients with Amtagvi; (2) 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 (3) the foregoing dynamics led to higher costs and lower revenue because ATCs could not keep pace with manufactured product.
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. Iovance also announced 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.
Following this news, the price of Iovance’s common stock declined dramatically. From a closing market price of $3.17 per share on May 8, 2025, Iovance’s stock price fell to $1.75 per share on May 9, 2025, a decline of about 44.795% in the span of just a single day.
If you own Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), please contact Fletcher Moore by email at [email protected].
You may be able to seek monetary damages, corporate governance reforms, reimbursement to the company, and a court approved incentive award at no cost to you whatsoever. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
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