NEW YORK, NY / ACCESS Newswire / May 13, 2025 / Levi & Korsinsky notifies investors that it has commenced an investigation of Iovance Biotherapeutics, Inc. ("Iovance Biotherapeutics, Inc.") (NASDAQ:IOVA) concerning possible violations of federal securities laws.
On May 8, 2025, after the market closed, Iovance issued their first quarter fiscal 2025 results well below expectations, announcing a loss of 36 cents per share on revenue of $49 million. On the back of these results, Iovance slashed their full-year total product revenue guidance by more than 40% at the midpoint to $250 to $300 million. Company management blamed the underwhelming results on the "annual scheduled maintenance" of the Iovance's "internal manufacturing facility, the iCTC, . . . [l]ower Proleukin sales," and "the variable pace at which ATCs began treating patients."
Following this news, on May 9, 2025, Iovance's stock price fell by $1.42 per share to close at $1.75 per share. To obtain additional information, go to:
https://zlk.com/pslra-1/iovance-biotherapeutics-inc-lawsuit-submission-form?prid=148305&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
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