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Iovance's (IOVA) Promising Cell Therapy Falters Triggering UBS Downgrades and Investor Lawsuit - Hagens Berman
IOVA Investors with Losses Encouraged to Contact Hagens Berman
San Francisco, California--(Newsfile Corp. - June 10, 2025) - A year ago, Bay Area biotech firm Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) was riding high on the promise of its newly approved cell therapy, Amtagvi. Today, the mood has shifted dramatically. On May 16, 2025, UBS analysts reportedly slashed their rating on Iovance shares from Buy to Neutral and issued a stark price target cut-from $17 to just $2-citing mounting concerns over the drug's commercial rollout and the company's ability to meet market expectations. The analyst downgrade comes as Iovance faces additional scrutiny in the form of securities class action litigation filed in the Northern District of California.
Hagens Berman is investigating investors' claims and urges Iovance investors who suffered substantial losses to submit your losses now.
Class Period: May 9, 2024 - May 8, 2025
Lead Plaintiff Deadline: July 14, 2025
Visit: www.hbsslaw.com/investor-fraud/iova
Contact the Firm Now: [email protected]
844-916-0895
Mounting Hurdles Cloud Launch Prospects
The downgrade follows a string of disappointing developments for the San Carlos, Calif.-based biotech company. Iovance's first-quarter sales of Amtagvi fell well short of Wall Street forecasts, and management was forced to lower its full-year outlook. UBS analysts reportedly pointed to a slower-than-expected ramp-up, hampered by operational challenges at smaller authorized treatment centers, which have struggled with limited hospital infrastructure, staffing shortages, and reimbursement uncertainties. Compounding matters, the company reported a higher-than-anticipated patient dropout rate, raising questions about patient selection and the need for greater physician education.
UBS's analysts reportedly wrote that "with a lack of near-term visibility on Amtagvi's uptake, we are moving to the sidelines," reflecting a broader investor unease over the therapy's near-term trajectory and Iovance's ability to capitalize on demand. The stock, which is now trading near its 52-week low, has lost more than 80% of its value over the past year.
Investor Class Action
Beyond analyst contempt, Iovance and its executives are currently grappling with a securities class action. The suit alleges that Defendants painted an overly optimistic picture of Iovance's growth prospects, while withholding key information about its readiness to meet commercial demand. The complaint centers on statements made between May 2024 and May 2025, a period during which the company's upbeat messaging was allegedly at odds with internal operational realities.
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