iovance cfo resigns to pursue new opportunities

Published 13/06/2025, 22:30
iovance cfo resigns to pursue new opportunities

SAN CARLOS, CA – Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), a biotechnology firm specializing in the development of novel cancer immunotherapies, announced on Monday that its Chief Financial Officer, Jean-Marc Bellemin, will resign effective July 10, 2025. Bellemin, who has served as CFO since November 2020, is leaving to pursue other opportunities, according to a company statement filed with the U.S. Securities and Exchange Commission today. The announcement comes as the company, currently valued at $748 million, maintains a strong liquidity position with cash exceeding debt, though InvestingPro data indicates rapid cash burn remains a concern.

The departure notice, provided on June 10, 2025, is in accordance with Bellemin’s Executive Employment Agreement. Iovance, which is incorporated in Delaware and headquartered in San Carlos, California, has not yet named a successor for the CFO position. With a current share price of $2.24 and eight analysts recently revising earnings estimates downward, the transition comes at a crucial time for the company. The company’s business phone number is listed as 650-260-7120, and its address is 825 Industrial Road, Suite 100, San Carlos, CA 94070.

This corporate update comes as part of a standard 8-K filing, which companies use to inform the public of significant events that shareholders should know about. The document confirms that no other items, such as soliciting material or communications regarding tender offers, are applicable at this time.

Iovance Biotherapeutics focuses on leveraging T cell-based therapies to improve cancer treatment outcomes. The company’s shares are traded on The Nasdaq Stock Market under the ticker symbol IOVA.

This news is based on a press release statement and provides the latest factual information regarding Iovance’s executive team changes. As the company continues its search for a new CFO, stakeholders will be watching closely to see how this transition affects Iovance’s strategic financial planning and ongoing projects within the biotechnology industry.

In other recent news, Iovance Biotherapeutics, Inc. announced the publication of final five-year results from its Phase 2 C-144-01 clinical trial of Amtagvi in the Journal of Clinical Oncology. The trial demonstrated a 31.4% objective response rate and a 19.7% five-year survival rate among advanced melanoma patients. Meanwhile, Goldman Sachs and H.C. Wainwright both reiterated their Buy ratings on Iovance stock, highlighting the importance of recent data presentations and ongoing clinical trials. Goldman Sachs set a price target of $8.00, while H.C. Wainwright maintained a target of $20.00, emphasizing the potential of Iovance’s tumor-infiltrating lymphocyte therapy in solid tumors. Citizens JMP maintained a Market Perform rating, noting caution due to recent lowered revenue guidance. At Iovance’s virtual annual meeting, shareholders approved key proposals, including the election of board members and amendments to equity incentive plans. This meeting reflected strong shareholder interest, with a 76.1% turnout. The U.S. FDA granted accelerated approval to Amtagvi in February 2024, marking it as the first one-time T cell therapy approved for a solid tumor cancer.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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