SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Iovance Biotherapeutics, Inc. - IOVA

NEW YORK, Oct. 9, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Iovance Biotherapeutics, Inc. ("Iovance" or the "Company") (NASDAQ: IOVA).  Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Iovance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On October 5, 2020, post-market, Iovance issued a press release "provid[ing] a regulatory update for its tumor-infiltrating lymphocyte (TIL) therapy lifileucel in metastatic melanoma."  Specifically, Iovance advised investors that "the Company and the [U.S. Food and Drug Administration] have not been able to agree on the required potency assays to fully define its TIL therapy, which is required as part of a BLA [Biologics License Application] submission.  The Company is continuing to refine the information from its current potency assays and simultaneously developing additional assays.  As a result of these developments, the BLA submission is not expected by the end of 2020." 

On this news, Iovance's stock price fell $3.96 per share, or 12.35%, to close at $28.10 per share on October 6, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP