$IOVA
IOVANCE BIOTHERAPEUTICS, INC. Stock $iova

$iova Overview Financials Valuation SEC Filings Company Website

2016 Q2 Form 10-Q Financial Statement

#000114420416099858 Filed on May 09, 2016

Income Statement

Concept	2016 Q2	2016 Q1	2015 Q1
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$7.260M	$2.820M	$1.470M
YoY Change	90.05%	91.84%	37.38%
% of Gross Profit
Research & Development	$4.463M	$4.192M	$2.398M
YoY Change	10.06%	74.81%	692.3%
% of Gross Profit
Depreciation & Amortization	$270.0K	$270.0K	$190.0K
YoY Change	12.5%	42.11%	850.0%
% of Gross Profit
Operating Expenses	$11.73M	$7.010M	$5.298M
YoY Change	82.1%	32.31%	134.48%
Operating Profit	-$11.73M	-$7.010M	-$5.298M
YoY Change	82.1%	32.31%
Interest Expense	$160.0K	$130.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$11.56M	-$6.880M	-$5.300M
YoY Change	81.48%	29.81%	134.51%
Income Tax			$0.00
% Of Pretax Income
Net Earnings	-$11.56M	-$6.884M	-$5.298M
YoY Change	81.61%	29.94%	134.42%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share	-$226.3K	-$141.7K	-$140.7K
COMMON SHARES
Basic Shares Outstanding	48.55M shares	48.57M shares	44.08M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2016 Q2	2016 Q1	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$191.6M	$99.20M	$111.3M
YoY Change	70.61%	-10.87%	518.33%
Cash & Equivalents	$121.0M	$38.92M	$111.3M
Short-Term Investments	$70.60M	$60.30M
Other Short-Term Assets	$800.0K	$200.0K	$100.0K
YoY Change	100.0%	100.0%	0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$192.4M	$99.36M	$111.4M
YoY Change	70.65%	-10.82%	515.52%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.192M	$1.409M	$2.128M
YoY Change	-41.14%	-33.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$1.192M	$1.409M	$2.128M
YoY Change	-41.14%	-33.8%
TOTAL ASSETS
Total Short-Term Assets	$192.4M	$99.36M	$111.4M
Total Long-Term Assets	$1.192M	$1.409M	$2.128M
Total Assets	$193.5M	$100.8M	$113.5M
YoY Change	68.68%	-11.25%	527.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$725.0K	$1.054M	$1.107M
YoY Change	-37.33%	-4.82%	269.12%
Accrued Expenses	$3.881M	$690.0K	$717.8K
YoY Change	522.18%	-3.88%	-10.27%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$4.606M	$1.830M	$1.911M
YoY Change	146.81%	-4.22%	73.7%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00	$0.00
YoY Change			-100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.606M	$1.830M	$1.911M
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$4.600M	$1.800M	$1.900M
YoY Change	142.11%	-5.26%	46.15%
SHAREHOLDERS EQUITY
Retained Earnings	-$122.7M	-$111.1M	-$81.86M
YoY Change	39.04%	35.73%
Common Stock	$3.000K	$2.000K	$1.870K
YoY Change	52.75%	6.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$188.9M	$98.94M	$111.6M
YoY Change
Total Liabilities & Shareholders Equity	$193.5M	$100.8M	$113.5M
YoY Change	68.68%	-11.25%	527.28%

Cashflow Statement

Concept	2016 Q2	2016 Q1	2015 Q1
OPERATING ACTIVITIES
Net Income	-$11.56M	-$6.884M	-$5.298M
YoY Change	81.61%	29.94%	134.42%
Depreciation, Depletion And Amortization	$270.0K	$270.0K	$190.0K
YoY Change	12.5%	42.11%	850.0%
Cash From Operating Activities	-$3.750M	-$4.550M	$3.459M
YoY Change	-16.67%	-231.55%	-252.36%
INVESTING ACTIVITIES
Capital Expenditures	-$60.00K	$2.000K	$782.0K
YoY Change	-57.14%	-99.74%	22652.4%
Acquisitions
YoY Change
Other Investing Activities	-$10.34M	$9.880M	$0.00
YoY Change	-89.64%
Cash From Investing Activities	-$10.40M	$9.880M	-$780.0K
YoY Change	-89.59%	-1366.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$0.00	$68.31M
YoY Change		-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	96.19M	0.000	70.61M
YoY Change	1596.47%	-100.0%	12975.93%
NET CHANGE
Cash From Operating Activities	-3.750M	-4.550M	$3.459M
Cash From Investing Activities	-10.40M	9.880M	-780.0K
Cash From Financing Activities	96.19M	0.000	70.61M
Net Change In Cash	82.04M	5.330M	$3.459M
YoY Change	-183.1%	54.11%	-299.92%
FREE CASH FLOW
Cash From Operating Activities	-$3.750M	-$4.550M	$3.459M
Capital Expenditures	-$60.00K	$2.000K	$782.0K
Free Cash Flow	-$3.690M	-$4.552M	$2.677M
YoY Change	-15.37%	-270.06%	-217.74%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2015Q4	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	19945000	USD
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CY2015Q4	us-gaap	Accounts Payable Related Parties Current AccountsPayableRelatedPartiesCurrent	86000	USD
CY2016Q1	us-gaap	Liabilities Current LiabilitiesCurrent	1830000	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	1630000	USD
CY2016Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q1	us-gaap	Common Stock Value CommonStockValue	2000	USD
CY2016Q1	lbio	Common Stock To Be Issued Value CommonStockToBeIssuedValue	245000	USD
CY2015Q4	lbio	Common Stock To Be Issued Value CommonStockToBeIssuedValue	245000	USD
CY2016Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	68000	USD
CY2016Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	209729000	USD
CY2015Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	207950000	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-111106000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-104222000	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	98938000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	104023000	USD
CY2016Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	100768000	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	105653000	USD
CY2015Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13642000	USD
CY2016Q1	dei	Amendment Flag AmendmentFlag	false
CY2016Q1	dei	Trading Symbol TradingSymbol	LBIO
CY2016Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	8943000	USD
CY2016Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001425205
CY2016Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2016Q1	dei	Document Period End Date DocumentPeriodEndDate	2016-03-31
CY2016Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2016Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	48552478	shares
CY2016Q1	dei	Document Type DocumentType	10-Q
CY2016Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2016Q1	dei	Entity Registrant Name EntityRegistrantName	Lion Biotechnologies, Inc.
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	277000	USD
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CY2016Q1	us-gaap	Assets Current AssetsCurrent	99359000	USD
CY2016Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1409000	USD
CY2016Q1	us-gaap	Assets Assets	100768000	USD
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CY2016Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	690000	USD
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CY2016Q1	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	200000	USD
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CY2016Q1	us-gaap	Other Significant Noncash Transaction Value Of Consideration Received1 OtherSignificantNoncashTransactionValueOfConsiderationReceived1	20000	USD
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CY2015Q4	lbio	Common Stock To Be Issued Shares CommonStockToBeIssuedShares	303125	shares
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><i>Use of Estimates</i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include valuation of available-for-sale investments, accounting for potential liabilities, the valuation allowance associated with the Company’s deferred tax assets, and the assumptions made in valuing stock instruments issued for services.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><i>Concentrations</i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company maintains cash balances at one bank. At times, the amount on deposit exceeds the federally insured limits. Management believes that the financial institution that holds the Company’s cash is financially sound and, accordingly, minimal credit risk exists. As of March 31, 2016 and 2015, the Company’s cash balances were in excess of insured limits maintained at the bank.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1	lbio	Reclassification Of Stock Based Compensation Cost ReclassificationOfStockBasedCompensationCost	300000	USD
CY2016Q1	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	99166000	USD
CY2015Q4	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	103700000	USD
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	321252	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	248126	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	6.96
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	7.13
CY2016Q1	lbio	Cancellation Of Vested Shares CancellationOfVestedShares	41193	shares
CY2016Q1	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	638000	USD
CY2016Q1	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	296000	USD
CY2016Q1	lbio	Stock Cancelled During Period Stock Options And Restricted Shares Value StockCancelledDuringPeriodStockOptionsAndRestrictedSharesValue	0	USD
CY2016Q1	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	10027000	USD
CY2015Q1	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	0	USD
CY2013Q3	us-gaap	Stockholders Equity Reverse Stock Split StockholdersEquityReverseStockSplit	1-for-100
CY2016Q1	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	114000	USD
CY2016Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.14
CY2015Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.14
CY2016Q1	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	90223000	USD
CY2016Q1	lbio	Money Market Funds And Short Terminvestments Weighted Average Time To Maturity MoneyMarketFundsAndShortTerminvestmentsWeightedAverageTimeToMaturity	P85D
CY2016Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Reclassifications</i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In presenting the Company’s statement of operations for the three months ended March 31, 2015, the Company has reclassified $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.3</font> million, of stock-based compensation that was previously reflected as general and administrative expenses to research and development expenses. The reclassification relates to stock-based compensation attributable to individuals working in the Company’s research and development activities, and had no impact on total costs and expenses, or on net loss.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><u><font style="FONT-SIZE: 10pt">NOTE 7. LEGAL PROCEEDINGS</font></u></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">  </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><u><font style="FONT-SIZE: 10pt">SEC Settlement</font></u><font style="FONT-SIZE: 10pt">. As previously disclosed, on April 23, 2014 we received a subpoena from the SEC that stated that the staff of the SEC was conducting an investigation then designated as In the Matter of Galena Biopharma, Inc. File No. HO 12346 (now known as In the Matter of Certain Stock Promotions) and that the subpoena was issued to the Company as part of the foregoing investigation. The SEC’s subpoena and accompanying letter did not indicate whether we were, or were not, under investigation. We produced documents in response to the subpoena and have since fully cooperated with the SEC’s investigation.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">We have recently been informed by the Staff of the SEC that the SEC’s investigation, in part, involves the conduct of our former Chief Executive Officer, <font style="LINE-HEIGHT: 115%; FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> Manish singh,</font> during the period between September 2013 and April 2014. We understand that, as it pertains to the Company’s former Chief Executive Officer, the investigation has focused on the failure by authors of certain articles about the Company to disclose that they were compensated by one of our former investor relations firms. We understand that it is the position of the SEC Staff that the conduct of our former Chief Executive Officer with respect to these articles may be imputed to the Company.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In order to resolve this matter, we have agreed with the Staff of the SEC to a proposed settlement framework under which we would consent to the entry of an order requiring that we cease and desist from any future violations of certain provisions of the federal securities laws, without admitting or denying any allegations. We are currently discussing with the Staff of the SEC whether the proposed settlement will involve the payment of a financial penalty. Because we do not yet know whether a financial penalty will be part of the proposed settlement and, if so, the amount of the financial penalty, we have not accrued a liability related to this matter. The proposed settlement is contingent upon reaching agreement with the Staff of the SEC on a complete set of settlement terms and approval by the Commissioners of the SEC, neither of which can be assured.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">  </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><u><font style="FONT-SIZE: 10pt">Solomon Capital, LLC.</font></u> <font style="FONT-SIZE: 10pt">On April 8, 2016, a lawsuit titled Solomon Capital, LLC, Solomon Capital 401(K) Trust, Solomon Sharbat and Shelhav Raff against Lion Biotechnologies, Inc. was filed by Solomon Capital, LLC, Solomon Capital 401(k) Trust, Solomon Sharbat and Shelhav Raff against the company in the Supreme Court of the State of New York County of New York (index no. 651881/2016). The plaintiffs allege that, between June and November 2012 they provided us with $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">52,850</font> and that they advanced and paid on our behalf an additional $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">170,000</font>. The complaint further alleges that we agreed to (i) provide them with promissory notes totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">222,850</font>, plus interest, (ii) issue a total of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 111,425</font> shares to the plaintiffs (before the <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1-for-100</font> reverse stock effected in September 2013), and (iii) allow the plaintiffs to convert the foregoing funds into our securities in the next transaction. The plaintiffs allege that they should have been able to convert their advances and payments into shares of our common stock in the restructuring and reorganization that we effected in May 2013. Based on the foregoing, the plaintiffs allege causes for breach of contract and unjust enrichment and demand judgment against us in an unspecified amount exceeding $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,500,000</font>, plus interest and attorneys’ fees. We have begun our investigation of the allegations made by the plaintiffs and intend to vigorously defend this matter.</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

Files In Submission

Name	View Source	Status
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0001144204-16-099858.txt	Edgar Link	pending
0001144204-16-099858-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
lbio-20160331.xml	Edgar Link	completed
lbio-20160331.xsd	Edgar Link	pending
lbio-20160331_cal.xml	Edgar Link	unprocessable
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lbio-20160331_pre.xml	Edgar Link	unprocessable
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$IOVA
IOVANCE BIOTHERAPEUTICS, INC. Stock $iova

2016 Q2 Form 10-Q Financial Statement

#000114420416099858 Filed on May 09, 2016

Income Statement

Balance Sheet

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Facts In Submission

Files In Submission

$IOVA IOVANCE BIOTHERAPEUTICS, INC. Stock $iova

2016 Q2 Form 10-Q Financial Statement

#000114420416099858 Filed on May 09, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IOVA
IOVANCE BIOTHERAPEUTICS, INC. Stock $iova