Pomerantz Law Firm Files Class Action Against Iovance Biotherapeutics Amid Stock Decline

The Pomerantz Law Firm has stepped forward to announce a critical class action lawsuit targeting Iovance Biotherapeutics, Inc., a biotechnology company based in the United States. Following recent financial disclosures that sent shockwaves throughout the investment community, affected investors have been reminded of their rights and the impending deadlines associated with the class action.

What Happened?

On May 8, 2025, Iovance Biotherapeutics released its financial results for the first quarter of 2025. The report revealed total product revenue of $49.3 million, marking a stark decline from the previous quarter's revenue of $73.7 million. This news shocked stakeholders, particularly as the company revised its full-year revenue guidance from an optimistic projection of $450 million to $475 million down to a significantly lower forecast of only $250 million to $300 million, a drop of over 40% at the midpoint.

Following this announcement, Iovance's stock took a catastrophic hit, plummeting 44.79% to close at just $1.75 per share the following day, May 9, 2025. The reverberations of this disclosure raised significant concerns over potential securities fraud and other unlawful business practices that may have been perpetuated by Iovance and its leadership.

The Class Action Lawsuit

Pomerantz LLP, a prestigious law firm with a rich legacy in securities class action litigation, has filed this lawsuit on behalf of those who suffered losses due to the fall in Iovance's stock value. Investors who purchased or acquired Iovance securities during the specified Class Period are being urged to act quickly if they wish to be considered for lead plaintiff status in the lawsuit. The deadline for submitting these requests is July 14, 2025.

Danielle Peyton, an attorney with Pomerantz, has encouraged investors to reach out, providing avenues for contact either via email or phone. Potential plaintiffs should include contact details and information about their purchases to ensure proper consideration in the lawsuit. The firm has established a dedicated section on its website where interested individuals can access the complaint and further details about the case.

Background on Pomerantz LLP

Pomerantz LLP is recognized as one of the leading firms in corporate, securities, and antitrust class action litigation. Founded by Abraham L. Pomerantz, who is often described as the dean of the class action bar, the firm has pioneered many aspects of securities law and has garnered a reputation for advocating on behalf of shareholders and businesses impacted by fraud and corporate misconduct. Over the years, Pomerantz has successfully recovered substantial settlements for its clients, reinstating investor confidence in the legal process.

Conclusion

The unfolding situation concerning Iovance Biotherapeutics underscores the precarious nature of investments in emerging biotechnology companies. Investors are urged to remain vigilant and informed regarding their rights, especially in the wake of potentially deceptive practices. Those affected by Iovance's recent downturn are encouraged to contact Pomerantz, as the window for participation in this class action lawsuit is closing rapidly. With critical deadlines approaching, prompt action is essential for investors seeking restitution for their losses.