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IOVA.US
id: 1086

Iovance Biotherapeutics (IOVA) FDA Suspending Clinical Trial Case

  • On December 27, 2023, Iovance (IOVA) announced that, on December 22, 2023, the FDA had placed a clinical hold on a Company’s clinical trial.
  • On it, $OIVA fell 18,67%, losing $424M+ of shareholder value.
  • Investors may have grounds to suspect Iovance of a failed clinical trial, which led to their losses.
On December 27, 2023, Iovance announced that, on December 22, 2023, U.S. FDA had placed a clinical hold on the Company’s trial of lead product candidate for the treatment of metastatic non-small cell lung cancer.
Iovance advised that the FDA’s decision to place the clinical hold was in response to a recently reported Grade 5 (fatal) serious adverse event.

On this news, $IOVA fell 18,67% and lost over $424 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Iovance of facing a significant delay in bringing a product to market, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
27 December 2023
Collecting participants…

Iovance Biotherapeutics Inc

Iovance Biotherapeutics, Inc., a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic me...

    Ticker
    IOVA.US
    ISIN
    US4622601007
    CIK
    1425205
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    825 Industrial Road, San Carlos, CA, United States, 94070