This report evaluates Iovance Biotherapeutics (IOVA), a biotechnology company focused on cancer immunotherapies, for Shariah compliance. The analysis reveals non-compliance primarily due to elevated liquidity ratios exceeding key thresholds across major standards, despite permissible business activities in ethical healthcare. Financial screening shows low debt and minimal non-permissible income, but cash holdings raise concerns over potential riba exposure. Index exclusion reinforces the non-compliant status, with a quality rating of B indicating moderate concerns. Investors may consider purification for incidental interest income while monitoring financial improvements.