Full Press Release Details
SAN FRANCISCO, June 02, 2025 (GLOBE NEWSWIRE) -- A year ago, Bay Area biotech firm Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) was riding high on the promise of its newly approved cell therapy, Amtagvi. Today, the mood has shifted dramatically. On May 16, 2025, UBS analysts reportedly slashed their rating on Iovance shares from Buy to Neutral and issued a stark price target cut—from $17 to just $2—citing mounting concerns over the drug’s commercial rollout and the company’s ability to meet market expectations. The analyst downgrade comes as Iovance faces additional scrutiny in the form of securities class action litigation filed in the Northern District of California.
Hagens Berman is investigating investors’ claims and urges Iovance investors who suffered substantial losses to submit your losses now.
Class Period: May 9, 2024 – May 8, 2025
Lead Plaintiff Deadline: July 14, 2025
Contact the Firm Now: IOVA@hbsslaw.com
Mounting Hurdles Cloud Launch Prospects
The downgrade follows a string of disappointing developments for the San Carlos, Calif.-based biotech company. Iovance’s first-quarter sales of Amtagvi fell well short of Wall Street forecasts, and management was forced to lower its full-year outlook. UBS analysts reportedly pointed to a slower-than-expected ramp-up, hampered by operational challenges at smaller authorized treatment centers, which have struggled with limited hospital infrastructure, staffing shortages, and reimbursement uncertainties. Compounding matters, the company reported a higher-than-anticipated patient dropout rate, raising questions about patient selection and the need for greater physician education.
UBS’s analysts reportedly wrote that “with a lack of near-term visibility on Amtagvi’s uptake, we are moving to the sidelines,” reflecting a broader investor unease over the therapy’s near-term trajectory and Iovance’s ability to capitalize on demand. The stock, which is now trading near its 52-week low, has lost more than 80% of its value over the past year.
Investor Class Action
Beyond analyst contempt, Iovance and its executives are currently grappling with a securities class action. The suit alleges that Defendants painted an overly optimistic picture of Iovance’s growth prospects, while withholding key information about its readiness to meet commercial demand. The complaint centers on statements made between May 2024 and May 2025, a period during which the company’s upbeat messaging was allegedly at odds with internal operational realities.
The situation came to a head on May 8, when Iovance disclosed a quarterly loss of $0.36 per share on revenue of $49 million—missing consensus estimates by a wide margin. On the same earnings call, Chief Operating Officer Igor Bilinsky revealed that annual maintenance at the company’s flagship cell therapy center had halved production capacity for an entire month, creating a supply bottleneck that further constrained Amtagvi’s rollout.
Shares of Iovance plummeted 44% the following day, closing at $1.75—a stark reversal for a company once seen as a frontrunner in the cell therapy space.
Hagens Berman’s Investigation
Prominent shareholder rights firm Hagens Berman is examining whether Iovance and its executives violated federal securities laws by issuing overly optimistic statements about the company’s operational readiness and growth trajectory.
Reed Kathrein, a partner at Hagens Berman leading the inquiry, explained the basis for the firm’s review. “Investors rely on management to present a candid view of both the opportunities and the obstacles,” Kathrein said. “When a company’s messaging diverges from its operational reality, it’s not just a matter of missed expectations—it’s a question of whether investors were given a fair shot at the truth.”
If you invested in Iovance and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Iovance case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Iovance should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email IOVA@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895