The Gross Law Firm Notifies Iovance Biotherapeutics, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline – IOVA

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a class action lawsuit due to allegations of providing misleading statements about its growth potential and financial performance, leading to a significant drop in stock price [1][3]. Summary by Relevant Sections Class Period and Allegations - The class period for the lawsuit is from May 9, 2024, to May 8, 2025 [3]. - Allegations include that Iovance made overwhelmingly positive statements while concealing material adverse facts about its ability to generate demand for its treatments [3]. - The company announced reduced revenue guidance for fiscal year 2024, attributing this to maintenance issues, lower-than-expected Proleukin sales, and a variable pace of treatment initiation [3]. Financial Impact - Following the announcement of reduced guidance, Iovance's stock price plummeted from $3.17 per share on May 8, 2025, to$1.75 per share on May 9, 2025, marking a decline of approximately 44.795% in one day [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 14, 2025, to potentially become lead plaintiffs [4]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case [4]. Law Firm Information - The Gross Law Firm is leading the class action, emphasizing its commitment to protecting investors from deceit and fraud [5].