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IOVA.US
id: 1600
Iovance Biotherapeutics ($IOVA) Overstated Growth Forecast and Guidance Collapse Case
Investors can submit applications for the lead plaintiff role.
N.D. California
Court3:25-cv-04177
Case number08/08/2024
Class period Start05/08/2025
Class period End07/14/2025
Lead Plaintiff motion deadline- $IOVA investors filed a claim against Iovance for overstating 2025 revenue projections while hiding delays in treatment center expansion and execution.
- After cutting guidance by nearly 45% and missing Q1 expectations, $IOVA dropped 44.8% on May 9, 2025.
Case Details:
Throughout late 2024 and early 2025, Iovance Biotherapeutics told investors it expected to generate between $450 million and $475 million in 2025 product revenue, led by its cancer therapy Amtagvi and companion drug Proleukin. The company said it was ramping up treatment centers, had strong demand, and was on track for accelerated growth.
But Iovance failed to disclose that many treatment centers were struggling to scale, with only a small number of locations actually treating patients in meaningful volumes. While management repeatedly reaffirmed guidance, they were internally aware that adoption rates were slower than expected, and that logistics, staffing, and reimbursement delays were holding back growth.
On May 8, 2025, Iovance reported weak Q1 results and slashed its full-year guidance to just $250–$300 million, a cut of nearly 45%. The company cited treatment center ramp delays, lower infusion volumes, and underwhelming Proleukin sales.
Following this, on May 9, 2025, $IOVA fell 44.8%.
Based on these events, $IOVA investors filed a claim against Iovance Biotherapeutics, accusing the company of the following:
- It exaggerated demand and misled investors about the rollout of Amtagvi and Proleukin.
- It failed to disclose internal execution challenges that made their revenue goals unrealistic.
Considering all the representations, investors believe Iovance overstated growth potential and waited too long to revise expectations.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
05/08/2025
Filing date
05/15/2025
Lead Plaintiff Deadline
07/14/2025