In a dramatic turn of events, Iovance Biotherapeutics, Inc. finds itself at the center of a class action lawsuit, as investors claim they were misled by the company’s overly optimistic growth forecasts. The lawsuit, aimed at recovering losses incurred by shareholders, targets the period between August 8, 2024, and May 8, 2025, during which Iovance allegedly painted a rosy picture of its growth potential while concealing critical shortcomings.
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The crux of the complaint lies in the assertion that Iovance disseminated false and misleading statements about its ability to generate demand for its treatments through its network of approved centers. This facade began to crumble on July 25, 2024, when Iovance announced its second-quarter financial results and slashed its revenue guidance for the fiscal year. The company cited several reasons for this downturn, including maintenance issues that halved capacity for a month, unexpectedly low Proleukin sales, and a slow start in treatment centers.
The impact of these revelations was swift and severe. Iovance’s stock price plummeted from $3.17 per share on May 8, 2025, to a mere $1.75 the following day, marking a staggering 44.795% drop.
For those who suffered losses during this tumultuous period, there is an opportunity to seek recovery. Affected investors are encouraged to visit [this link](https://zlk.com/pslra-1/iovance-biotherapeutics-inc-lawsuit-submission-form?wire=18) to learn more about their rights. Participation in the lawsuit comes with no cost or obligation.
The legal charge is spearheaded by Levi & Korsinsky LLP, a firm renowned for its prowess in securities litigation. With a track record of securing hundreds of millions for shareholders and a team of over 70 experts, Levi & Korsinsky stands as a formidable advocate for investors.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171