Full Press Release Details
NEW YORK and NEW ORLEANS, June 03, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 15, 2025 to file lead plaintiff applications in a securities class action lawsuit against Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NasdaqGM: IOVA), if they purchased the Company’s securities between May 9, 2024 and May 8, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
If you purchased securities of Iovance and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-iova/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 15, 2025.
Iovance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 8, 2025, the Company announced its 1Q 2025 financial results, disclosing a quarterly total product revenue of $49.3M, a significant decline from the prior quarter’s $73.7M, as well as a 40% cut to its full fiscal year 2025 total product revenue guidance from a range of $450M - $475M to $250M - $300M. Further, the Company revealed it was “revising full-year 2025 revenue guidance to reflect recent launch dynamics” of Amtagvi and that “[t]he updated forecast considers experience with ATC [authorized treatment center] growth trajectories and treatment timelines for new ATCs.”
On this news, the price of Iovance’s shares fell 44.8%, from $1.42 per share to close at $1.75 per share on May 9, 2025, on unusually heavy trading volume.
The case is Farberov v. Iovance Biotherapeutics, Inc., et al., Case No. 25-cv-4199.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.
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To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
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