Kirby McInerney LLP Announces Investigation of Claims Against Iovance Biotherapeutics, Inc. (IOVA) on Behalf of Investors
/EIN News/ -- NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NASDAQ:IOVA). The investigation concerns whether Iovance and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
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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. The Company 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. On this news, the price of Iovance shares declined by $1.42 per share, or approximately 44%, from $3.17 per share on May 8, 2025, to close at $1.75 on May 9, 2025.
If you purchased or otherwise acquired Iovance securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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