Investigation announced for Investors in shares of Iovance Biotherapeutics, Inc. (NASDSQ: IOVA)

An investigation was announced concerning potential securities laws violations by Iovance Biotherapeutics, Inc. in connection with certain financial statements.

Investors who purchased shares of Iovance Biotherapeutics, Inc. (NASDSQ: IOVA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Iovance Biotherapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Carlos, CA based Iovance Biotherapeutics, Inc., a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. Iovance Biotherapeutics, Inc. reported that its Net Loss increased from $197.55 million in 2019 to $259.58 million in 2020.

On May 18, 2021, Iovance Biotherapeutics, Inc. updated the public on its lead asset, the melanoma treatment lifileucel. Iovance Biotherapeutics, Inc. stated that, after receiving feed back from the U.S. Food and Drug Administration (“FDA”) regarding potency assays for lifileucel, the Company was planning to delay its submission of a biologics license application (“BLA”) for lifileucel until the second half of 2021.
Then, on May 19, 2021, the Company filed a Form 8-K with the SEC which announced that the Company’s Chief Executive Officer, Maria Fardis, was resigning as President, CEO and a director of the Company.

Shares of Iovance Biotherapeutics, Inc. (NASDSQ: IOVA) declined from $54.21 per share in January 2021 to as low as $15.88 per share on May 19, 2021.

Those who purchased shares of Iovance Biotherapeutics, Inc. (NASDSQ: IOVA) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.