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Iovance Biotherapeutics (NASDAQ:IOVA), a biotechnology company with a market capitalization of $584 million and currently trading near its 52-week low, announced that effective Monday, Matthew W. Rosinack has been appointed as interim Principal Financial (NASDAQ:PFG) Officer and Principal Accounting Officer. According to InvestingPro data, the company faces significant challenges with eight analysts recently revising earnings downward for the upcoming period. The appointment follows the mutual agreement for the separation of Jean-Marc Bellemin from his roles as Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer, effective June 30, 2025.
Rosinack, age 53, has served as the company’s Senior Vice President, Finance since September 2021. Prior to joining Iovance Biotherapeutics, he held senior finance and accounting positions at Berkeley Lights, Inc., including Senior Vice President and Chief Accounting Officer, and Vice President and Corporate Controller from March 2016 to August 2021. His previous experience also includes roles at ZELTIQ Aesthetics, Inc. and FormFactor (NASDAQ:FORM), Inc., as well as over 14 years in public accounting with PricewaterhouseCoopers LLP. Rosinack holds a B.A. in Accounting from Ohio Wesleyan University.
According to the company’s statement, there are no arrangements or understandings between Rosinack and any other persons in connection with his appointment, and there are no family relationships between him and any director or executive officer of the company. The company also reported that Rosinack has no direct or indirect interest in any transaction requiring disclosure under applicable regulations.
This information is based on a statement released by Iovance Biotherapeutics in a filing with the Securities and Exchange Commission.
In other recent news, Iovance Biotherapeutics announced the resignation of its Chief Financial Officer, Jean-Marc Bellemin, who will leave the company to pursue new opportunities. This executive change comes amid ongoing developments at the company, including shareholder approval for board nominees and amendments to incentive plans during a virtual annual meeting. Shareholders also ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. In terms of analyst activity, Goldman Sachs reiterated its Buy rating on Iovance, influenced by promising data presented at the ASCO meeting, which showcased a 19.7% survival rate in advanced melanoma patients treated with Amtagvi. H.C. Wainwright also maintained a Buy rating, citing the potential of Iovance’s clinical trials, including the evaluation of lifileucel in solid tumors. Meanwhile, Citizens JMP analysts kept a Market Perform rating, expressing caution due to recent lowered revenue guidance and awaiting better utilization of Amtagvi. These developments highlight ongoing strategic and operational shifts at Iovance Biotherapeutics.
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