Iovance Biotherapeutics told investors its cancer drug, Amtagvi, was set for mega revenue in 2025 - but all investors got was a mega letdown. After execs revealed Amtagvi's rollout had been rolled over, investors pulled the plug, sending the stock into a 45% nosedive. Now, investors are suing.

Throughout 2024, Iovance executives said the Company was set for a massive 2025, projecting revenue in the high $400 millions. The reason for their optimism? Amtagvi, a supposed blockbuster cancer drug. But there was a catch: patients could only receive Amtagvi at specialized locations called Authorized Treatment Centers - or ATCs. Executives claimed the ATC rollout was moving quickly, and that more and more patients were starting treatment.

But all that bluster came crashing down in February 2025 when Iovance revealed dismal earnings and slashed its guidance by nearly 50%. The ATC rollout? Slow. Patient uptake? Slower. That so-called "blockbuster" rollout had barely gotten out of the gate.

Furious shareholders dumped their shares, and Iovance's stock crashed 45% in a single day. What was promised as a breakthrough was just plain broken.

Now, more investors are joining the lawsuit.