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Robbins LLP Issues Warning on Iovance Biotherapeutics Class Action

In a significant development for investors, Robbins LLP is reaching out to shareholders of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), informing them of a newly filed class action lawsuit. This lawsuit is aimed at all individuals and entities that purchased or acquired Iovance securities between May 9, 2024, and May 8, 2025. The investigation centers on claims that Iovance misled investors about its business operations and future prospects.

Background on Iovance Biotherapeutics

Iovance Biotherapeutics is a biotechnology company that specializes in developing cell therapy products for cancer treatment, with a particular focus on metastatic melanoma and other solid tumors. In recent months, the company faced scrutiny as it reported declining revenue and significant challenges with its newest treatment, Amtagvi, which is supposed to be a cornerstone of its business strategy.

Allegations of Fraud

The core of the allegations against Iovance revolves around the company’s failure to disclose critical information concerning its business operations. According to the lawsuit, the defendants did not inform investors that new Authorized Treatment Centers (ATCs) were facing delays in initiating patient treatment with Amtagvi. Furthermore, there were claims that the company’s sales team, along with the new ATCs, struggled with identifying and selecting patients for treatment, leading to less than satisfactory patient retention and higher costs.

As Iovance provided optimistic statements about its operations and future, the truth behind the scenes was starkly different. The lawsuit cites that these misleading statements lacked a reasonable basis, ultimately leading shareholders into false expectations about the company's revenue projections and operational effectiveness.

On May 8, 2025, following the release of the Q1 financial results, the company's downturn became evident. Iovance announced product revenue of just $49.3 million, which marked a sharp decrease from the prior quarter’s $73.7 million. The forecast for total product revenue for the fiscal year was revised drastically downwards from an expected $450 million - $475 million down to only $250 million - $300 million. This sizeable adjustment sent Iovance’s stock plummeting by nearly 45% in a single day, a reflection of the market's reaction to these disappointing revelations.

What Investors Should Do Now

For shareholders impacted by these developments, now is a pivotal time to understand your options. Those who wish to serve as lead plaintiffs in the class action must file their motions with the court by July 14, 2025. Acting as a lead plaintiff allows an individual to represent the interests of all shareholders in pursuing the lawsuit. However, it’s important to note that participation is not a requirement to be eligible for any potential recovery from the case.

Robbins LLP emphasizes that all representation is conducted on a contingency basis, meaning shareholders will incur no fees or expenses unless the case is won. This is an important factor for investors, as it eliminates upfront financial risks.

About Robbins LLP

Established in 2002, Robbins LLP has built a reputation for its leadership in shareholder rights litigation. The firm focuses on helping investors recover losses and improve corporate governance within companies. Their dedication to accountability and transparency reflects a commitment to protecting the interests of shareholders.

As the class action moves forward, impacted shareholders are encouraged to stay informed and consider the implications of the lawsuit. By signing up for notifications and utilizing available resources, investors can play an active role in seeking justice for themselves and other shareholders who have faced losses due to alleged corporate wrongdoing.

For further information or to inquire about your status as a shareholder, interested parties can reach out to Robbins LLP via email or by calling the firm directly.

The path forward may be complex, but with the right legal support, shareholders can navigate these challenging waters as they seek redress for their investments.