Iovance Biotherapeutics, Inc. Securities Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against Iovance Biotherapeutics, Inc. (IOVA)

If you have held Iovance Biotherapeutics stock since at least May 2024, you may be able to seek corporate reforms, the return of funds back to the Company, and a court approved incentive award for you, all at absolutely no cost.

About Iovance Biotherapeutics

Iovance Biotherapeutics is a Delaware corporation headquartered in San Carlos, California. The company develops and commercializes cell therapies for cancer, including its lead product Amtagvi (lifileucel).

Iovance also sells Proleukin (aldesleukin) and operates the Iovance Cell Therapy Center (iCTC), a facility central to its manufacturing and commercialization strategy.

What’s Being Investigated

Attorneys are reviewing whether Iovance’s board and senior officers properly oversaw the company’s forecasting, manufacturing, and commercialization functions after Amtagvi’s launch. According to a class action lawsuit, management repeatedly reaffirmed overly optimistic revenue guidance and minimized known production and adoption issues.

In its August 8, 2024 Q2 release, management projected $450 to $475 million in 2025 revenue and described “robust growth” and “strong demand” from treatment centers. Executives also said growth would come from “scale up in existing and new ATCs” and “community referral networks.”

The company allegedly issued similar guidance in November 2024 and February 2025, with management again citing significant year over year growth as ATCs broadened utilization.

On May 8, 2025, Iovance reduced its forecast by over 40% to $250 to $300 million for 2025, citing “limited production starts,” “lower Proleukin sales,” and a “variable pace” of patient treatment.

After this announcement, the company’s stock fell 44.8%, from $3.17 at market close on May 8 to $1.75 per share on May 9, 2025, as analysts downgraded the stock.

Key Timeline

• February 16, 2024: Amtagvi receives FDA accelerated approval for previously treated unresectable or metastatic melanoma.
• July 24, 2024: Iovance announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024.
• August 8, 2024: Management issues Q2 results and first revenue forecast of $450 to $475 million for 2025, calling demand “robust” and growth “significant.”
• November 7, 2024: The Company reiterates the same forecast and claims ATC adoption continues to strengthen.
• February 27, 2025: Iovance again repeats its $450 to $475 million projection and says iCTC manufacturing is “at full volume.”
• May 8, 2025: The Company cuts revenue guidance by more than 40% to $250 to $300 million.

Why Investors May Be Concerned

Stockholders allege that Iovance’s leadership repeatedly reaffirmed unrealistic financial guidance and minimized known manufacturing and adoption risks, suggesting gaps in internal oversight and disclosure controls.

Lawyers are investigating whether the board failed to ensure accurate forecasting and risk reporting, and if it constitutes a breach of fiduciary duty and failures in mission-critical oversight.

Your Rights and Next Steps

Stockholders who have continuously held Iovance Biotherapeutics shares since before May 2024 may have the right to take action on behalf of the company to strengthen governance and recover corporate losses.

Potential next steps include:

• Requesting books and records under Section 220 to evaluate potential oversight or disclosure failures by the board.
• Submitting a written demand asking the board to pursue claims against responsible officers and directors.
• Filing a shareholder action in the Delaware Court of Chancery if the board refuses or is conflicted in addressing the alleged misconduct.

Taking timely action helps preserve your ability to seek corporate reforms and accountability at Iovance Biotherapeutics.

You May Be Entitled to Compensation

Securities investigations are time-sensitive. If you have continuously held Iovance Biotherapeutics stock since May 2024, and believe the company’s leadership failed in its oversight duties, you may be eligible to participate in a shareholder action seeking corporate governance reforms, the return of funds to the company, and a potential court approved incentive award for your participation.

To join the investigation, complete the form below as soon as possible.