NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NASDAQ: IOVA) between August 8, 2024, to May 8, 2025, both dates inclusive. You are hereby notified that the class action lawsuit Karthik Trichur Sundaram v. Iovance Biotherapeutics, Inc., et al. (Case No. 3:25-cv-04177) has been commenced in the United States District Court for the Northern District of California. To get more information go to:

https://zlk.com/pslra-1/iovance-biotherapeutics-inc-lawsuit-submission-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

According to the complaint, throughout the class period, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Iovance’s growth potential; notably, that it was not equipped to generate and drive demand or was otherwise ill equipped to capitalize upon the purported existing demand for its treatments through its network of approved treatment centers.

On July 25, 2024, Iovance announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on 1) “the iCTC completed annual scheduled maintenance in December” and “capacity was reduced by more than half for about 1 month,” 2) “[l]ower Proleukin sales” than the company expected, and 3) “the variable pace at which ATCs began treatment patients.”

Following this news, the price of Iovance’s common stock declined dramatically. From a closing market price of $3.17 per share on May 8, 2025, Iovance’s stock price fell to $1.75 per share on May 9, 2025, a decline of about 44.795% in the span of just a single day.

If you suffered a loss in IOVA securities, you have until July 14, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our 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.

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 
www.zlk.com