NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NASDAQ: IOVA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Iovance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 8, 2025, Iovance issued a press release reporting its financial results and corporate updates for the first quarter of 2025. Among other items, Iovance reported a loss of $0.36 per share on revenue of $49 million, missing consensus estimates of a loss of $0.24 per share on revenue of $82 million. On the subsequent earnings call, Chief Operating Officer Igor Bilinsky disclosed that the annual maintenance for the Company’s state-of-the-art Iovance Cell Therapy Center had actually reduced capacity by 50% for an entire month in December 2024, creating an operational bottleneck that limited the number of Amtagvi infusions available in the first quarter.
On this news, Iovance’s stock price fell $1.42 per share, or 44.79%, to close at $1.75 per share on May 9, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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