Iovance Biotherapeutics, Inc. Investigation - IOVA

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Iovance Biotherapeutics, Inc. (NASDAQ: IOVA)

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Iovance Biotherapeutics, Inc. Investigation Details

Iovance Biotherapeutics, Inc. shares fell $5.25 per share, or 35.45%, to close at $9.56 on October 29, 2026, after the Company reported results from its Phase 2 IOV-LUN-202 clinical trial of lifileucel, an investigational tumor infiltrating lymphocyte therapy studied in patients with previously treated non-squamous non-small cell lung cancer. In describing the data, the Company characterized the results as consistent with previously reported results, a change from its earlier announcement describing the data as positive. Among the items disclosed, the Company reported that one of the trial's subgroups responded at a rate of 11.4%, while the treatment those patients normally receive produces a response rate of 12.8%. The one-day decline followed that October 29, 2026 disclosure, and it occurred in a program the Company had previously presented to investors in favorable terms. The investigation concerns whether Iovance Biotherapeutics, Inc. adequately disclosed the Phase 2 IOV-LUN-202 response rate data for lifileucel and the basis for its earlier positive characterization of that data ahead of its October 29, 2026 trial results disclosure.

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