LAVA Therapeutics(LVTX)

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XOMA Royalty Extends Tender Offer to Acquire LAVA Therapeutics N.V.
Globenewswire· 2025-10-02 20:43
EMERYVILLE, Calif. and UTRECHT, The Netherlands and PHILADELPHIA, Oct. 02, 2025 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (“XOMA Royalty”) (NASDAQ: XOMA) and LAVA Therapeutics N.V. (“LAVA”) (Nasdaq: LVTX) today announced the extension of the expiration of the tender offer to purchase all outstanding shares of common shares of LAVA, for (i) a cash amount to be determined in accordance with the Purchase Agreement, plus (ii) a non-transferable contingent value right (“CVR”) per share representing the right ...
LAVA Therapeutics to Move Extraordinary General Meeting to Early November 2025
Globenewswire· 2025-09-30 11:00
Additional time enables LAVA Therapeutics to address potential liabilities and confirm net cash to be delivered to Shareholders. LAVA Therapeutics and XOMA Royalty anticipate closing the announced acquisition in the fourth quarter of 2025. UTRECHT, The Netherlands and PHILADELPHIA, Sept. 30, 2025 (GLOBE NEWSWIRE) -- LAVA Therapeutics N.V. (the “Company” or “LAVA”) (NASDAQ: LVTX) today announced that the Company has decided to cancel the Extraordinary General Meeting of Shareholders (the “EGM”) scheduled to ...
LAVA Therapeutics(LVTX) - 2025 Q2 - Quarterly Report
2025-08-13 21:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from to Commission file number: 001-40241 LAVA Therapeutics N.V. (Exact Name of Registrant as Specified in Its Charter) The Netherlands (State or ...
LAVA Reports Second Quarter 2025 Financial Results and Provides Corporate Update
Globenewswire· 2025-08-13 20:55
Core Viewpoint - LAVA Therapeutics N.V. has entered into a definitive agreement to be acquired by XOMA Royalty Corporation, with the acquisition aimed at maximizing shareholder value while ensuring the continued success of LAVA's business [2][3][6]. Acquisition Details - The acquisition involves a cash tender offer for LAVA's common shares priced between $1.16 and $1.24 per share, which includes a contingent value right for potential future payments related to partnered and unpartnered programs [3][6]. - The tender offer is expected to commence by August 15, 2025, with the closing anticipated in the fourth quarter of 2025, subject to customary conditions [3][6]. Program Updates - LAVA has decided to discontinue the LAVA-1266 program for acute myeloid leukemia and myelodysplastic syndrome, initiating a wind-down of this clinical trial [4][6]. - The company continues to advance partnered programs with Johnson & Johnson and Pfizer, both in Phase 1 trials targeting specific cancer indications [5][7][8]. Financial Performance - For the second quarter of 2025, LAVA reported zero revenue from contracts with customers, compared to $7.0 million in the same period of 2024, which was primarily from a milestone payment from Pfizer [12]. - Research and development expenses decreased to $4.7 million in Q2 2025 from $5.9 million in Q2 2024, attributed to restructuring and reduced clinical activities [12]. - The net loss for Q2 2025 was $8.6 million, slightly higher than the $8.3 million loss in Q2 2024, resulting in a net loss per share of $0.32 compared to $0.31 [12][13]. Balance Sheet Overview - As of June 30, 2025, LAVA had total current assets of $60.5 million, down from $79.3 million at the end of 2024, with cash and cash equivalents at $26.4 million [15][16]. - Total liabilities were reported at $40.6 million, with shareholders' equity decreasing to $19.9 million from $27.7 million at the end of 2024 [15][16].
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SCS, LVTX, ENZB on Behalf of Shareholders
Prnewswire· 2025-08-08 05:17
Group 1: Steelcase Inc. - Steelcase Inc. is involved in a transaction where it will sell to HNI Corporation for $7.20 in cash and 0.2192 shares of HNI common stock for each share of Steelcase [1] Group 2: LAVA Therapeutics N.V. - LAVA Therapeutics N.V. is set to be acquired by XOMA Royalty Corporation for $1.16 in cash per share, with potential additional payments of up to $0.08 per share and a non-transferable contingent value right [2] Group 3: Enzo Biochem, Inc. - Enzo Biochem, Inc. is being sold to Battery Ventures for $0.70 per share in cash [3] Group 4: Legal Representation - Halper Sadeh LLC is investigating these transactions for potential violations of federal securities laws and breaches of fiduciary duties to shareholders, seeking increased consideration and additional disclosures [4] - Shareholders are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options at no charge [5]
SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of LAVA Therapeutics N.V. (NASDAQ: LVTX)
Prnewswire· 2025-08-07 22:29
Group 1 - Class Action Attorney Juan Monteverde's firm has recovered millions for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report [1] - The firm is investigating LAVA Therapeutics N.V. regarding its sale to XOMA Royalty Corporation, which proposes to acquire LAVA for $1.16 in cash per share, plus up to $0.08 per share and a contingent value right [1] - The contingent value right represents the right to receive 75% of the net proceeds from LAVA's partnered assets and 75% of any net proceeds from out-licensed programs [1] Group 2 - Monteverde & Associates PC is a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court [2] - The firm operates from the Empire State Building in New York City [2]
BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: HilleVax, Inc. (Nasdaq – HLVX), Steelcase Inc. (NYSE – SCS), LAVA Therapeutics N.V. (Nasdaq – LVTX), Arcadia Biosciences, Inc. (Nasdaq – RKDA)
GlobeNewswire News Room· 2025-08-04 16:05
Group 1: HilleVax, Inc. - HilleVax will be acquired by XOMA Royalty Corporation for $1.95 in cash per share plus one non-transferable contingent value right (CVR) [2] - The investigation focuses on whether the HilleVax Board breached its fiduciary duties by failing to conduct a fair process and whether the consideration provides fair value to shareholders [2] Group 2: Steelcase Inc. - Steelcase will be acquired by HNI Corporation for $7.20 in cash and 0.2192 shares of HNI common stock for each share of Steelcase [4] - The implied per share purchase price is $18.30 based on HNI's closing share price of $50.62 on August 1, 2025 [4] - The investigation concerns whether the Steelcase Board breached its fiduciary duties by failing to conduct a fair process and whether the consideration provides fair value to shareholders [4] Group 3: LAVA Therapeutics N.V. - LAVA will be acquired by XOMA Royalty Corporation for between $1.16 and $1.24 per share in cash, plus a non-transferable CVR [6] - The cash amount consists of a base price of $1.16 per share and an additional amount of up to $0.08 per share [6] - The investigation focuses on whether the LAVA Board breached its fiduciary duties by failing to conduct a fair process and whether the consideration provides fair value to shareholders [6] Group 4: Arcadia Biosciences, Inc. - Arcadia will be acquired by Roosevelt Resources LP, with current equity owners of Roosevelt and Arcadia shareholders expected to own approximately 90% and 10% of the combined company, respectively [8] - The investigation concerns whether the Arcadia Board breached its fiduciary duties by failing to conduct a fair process and the potential dilution of shareholders in the combined company [8]
XOMA Royalty Enters into Agreement to Acquire LAVA Therapeutics for Between $1.16 and $1.24 Per Share in Cash, Plus a Contingent Value Right
Globenewswire· 2025-08-04 11:30
Core Points - XOMA Royalty Corporation has entered into a definitive share purchase agreement to acquire LAVA Therapeutics N.V. for a cash consideration of between $1.16 and $1.24 per share, plus a contingent value right [1][2] - The acquisition aims to enhance shareholder value by adding economics related to LAVA's partnered programs, particularly those involving gamma delta bispecific antibodies [2] - LAVA's Board of Directors unanimously supports the transaction, believing it to be in the best interests of shareholders and the sustainable success of the business [3] Transaction Details - XOMA Royalty will commence a tender offer by August 15, 2025, to acquire all outstanding shares of LAVA common stock, with the closing contingent on certain conditions, including the tender of at least 80% of shares [4] - Following the tender offer, LAVA will undergo a corporate reorganization to ensure XOMA Royalty acquires 100% of LAVA's shares, with remaining shareholders receiving the same cash and contingent value right [4] - The closing of the transaction is expected in the fourth quarter of 2025 [4] Clinical Program Changes - In connection with the acquisition, LAVA plans to discontinue its Phase 1 clinical trial of LAVA-1266 for acute myeloid leukemia and myelodysplastic syndrome [5] Advisory Information - XOMA Royalty is advised by Gibson, Dunn & Crutcher LLP and Loyens & Loeff N.V., while LAVA is advised by Leerink Partners and Cooley LLP [6] Company Background - XOMA Royalty is a biotechnology royalty aggregator that acquires potential future economics associated with therapeutic candidates licensed to pharmaceutical companies [7] - LAVA Therapeutics is a biopharmaceutical company focused on developing bispecific gamma delta T cell engagers using its proprietary Gammabody platform [9]
LAVA Therapeutics(LVTX) - 2025 Q1 - Quarterly Report
2025-05-14 20:06
PART I. FINANCIAL INFORMATION [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements for Q1 2025 reflect a decrease in total assets to $71.2 million, a net loss of $3.5 million, and a $5.2 million gain on debt extinguishment [Condensed Consolidated Balance Sheets (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) As of March 31, 2025, total assets decreased to $71.2 million, liabilities to $45.4 million, and equity to $25.8 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $39,674 | $35,015 | | Short-term investments | $26,883 | $41,561 | | Total current assets | $69,780 | $79,297 | | **Total assets** | **$71,156** | **$80,831** | | **Liabilities & Equity** | | | | Total current liabilities | $10,366 | $18,006 | | Non-current portion of deferred revenue | $35,000 | $35,000 | | **Total liabilities** | **$45,372** | **$53,086** | | **Total shareholders' equity** | **$25,784** | **$27,745** | [Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss%20(Unaudited)) For Q1 2025, the company reported no revenue, a net loss of $3.5 million (or ($0.13) per share), and a $5.2 million gain on debt extinguishment Condensed Consolidated Statements of Operations (in thousands) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Revenue | $0 | $6,992 | | Research and development | ($4,156) | ($5,648) | | General and administrative | ($3,432) | ($3,380) | | Operating loss | ($7,588) | ($2,036) | | Gain on extinguishment of borrowings | $5,203 | $0 | | **Net loss** | **($3,479)** | **($608)** | | **Net loss per share, basic and diluted** | **($0.13)** | **($0.02)** | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) For Q1 2025, net cash used in operating activities increased to $11.6 million, and net cash provided by investing activities was $15.2 million Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($11,645) | ($843) | | Net cash provided by investing activities | $15,159 | $694 | | Net cash provided by financing activities | $0 | $8 | | **Net increase (decrease) in cash** | **$3,514** | **($141)** | [Notes to the Condensed Consolidated Financial Statements (Unaudited)](index=10&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Notes detail the company's Gammabody® platform, liquidity, key revenue events, and significant restructuring activities during the period - The company believes its cash, cash equivalents, and short-term investments are **sufficient to fund operations for at least the next twelve months** from the financial statement issuance date[28](index=28&type=chunk) - In March 2024, Pfizer achieved a clinical development milestone, resulting in a **$7,000 thousand payment** to the company, with **no revenue recognized** under the Pfizer agreement in Q1 2025[49](index=49&type=chunk)[104](index=104&type=chunk) - In February 2025, the company initiated a restructuring plan, reducing its global workforce by approximately **30%** and incurring **$500 thousand** in associated costs during Q1 2025[55](index=55&type=chunk) - In March 2025, a remaining loan balance of **$5,200 thousand** from RVO was permanently waived, resulting in a **gain on extinguishment of debt**[58](index=58&type=chunk) - Subsequent to quarter end, in May 2025, the company approved a further restructuring plan to eliminate remaining Netherlands employee positions and terminate a lease, with expected costs of approximately **$2,000 thousand**[70](index=70&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the Gammabody® platform, LAVA-1266 clinical trial, 2025 restructuring, and Q1 2025 financial performance and liquidity [Overview](index=22&type=section&id=Overview) LAVA Therapeutics focuses on its Gammabody® platform and LAVA-1266 clinical development, initiating 2025 restructuring plans to extend capital - The company is conducting a Phase 1 study of LAVA-1266 in patients with AML or MDS, with the first patient dosed in **December 2024** and initial data expected by **year-end 2025**[82](index=82&type=chunk) - In February 2025, the company implemented a restructuring plan including a **30% workforce reduction** to align resources with its focus on LAVA-1266[73](index=73&type=chunk) - In December 2024, the company announced the **discontinuation of the Phase 1 clinical trial for LAVA-1207** in mCRPC after it did not meet internal benchmarks[84](index=84&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q1 2025 results show revenue decreased to zero, R&D expenses declined, and other income increased due to a $5.2 million gain on debt extinguishment Comparison of Results of Operations (in thousands) | Line Item | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $0 | $6,992 | $(6,992) | | Research and development | $(4,156) | $(5,648) | $(1,492) | | General and administrative | $(3,432) | $(3,380) | $52 | | **Operating loss** | **$(7,588)** | **$(2,036)** | **$5,552** | | **Net loss** | **($3,479)** | **($608)** | **$2,871** | - Revenue was **$0** in Q1 2025 compared to **$7,000 thousand** in Q1 2024, with the 2024 revenue stemming from a clinical development milestone payment from Pfizer[103](index=103&type=chunk)[104](index=104&type=chunk) - R&D expenses decreased by **$1,492 thousand**, mainly due to a **$2,300 thousand reduction** in pre-clinical and clinical trial expenses following the discontinuation of the LAVA-1207 trial[106](index=106&type=chunk)[107](index=107&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company held $66.6 million in cash and investments, deemed sufficient to fund operations for at least 12 months - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments totaling **$66,600 thousand**[116](index=116&type=chunk) - Management believes the current cash position is **sufficient to fund projected cash requirements for at least 12 months** from the date of the report[116](index=116&type=chunk) - In March 2025, a **$5,200 thousand** Innovation Credit balance was permanently waived, which was recognized as a non-cash gain[112](index=112&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, LAVA Therapeutics is **not required to provide quantitative and qualitative disclosures about market risk**[129](index=129&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes in internal control over financial reporting - Management concluded that as of March 31, 2025, the company's disclosure controls and procedures were **effective at a reasonable assurance level**[130](index=130&type=chunk) - No changes in internal control over financial reporting occurred during Q1 2025 that materially affected, or are reasonably likely to materially affect, internal controls[132](index=132&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings - The company is **not currently a party to any material legal proceedings**[133](index=133&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for 2024 were reported - No material changes to the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024, were reported[134](index=134&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities and no material change in the planned use of IPO proceeds - There were **no unregistered sales of equity securities** in the quarter[135](index=135&type=chunk) - There has been **no material change in the planned use of proceeds** from the company's IPO[136](index=136&type=chunk) [Other Information](index=42&type=section&id=Item%205.%20Other%20Information) This section incorporates details on the company's restructuring and confirms no Rule 10b5-1 trading plan changes by directors or officers - Information regarding the restructuring plan, closure of Netherlands operations, and workforce reduction is **incorporated by reference from Note 10** of the financial statements[139](index=139&type=chunk) - During the fiscal quarter ended March 31, 2025, **no directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement**[140](index=140&type=chunk)
LAVA Reports First Quarter 2025 Financial Results, Provides Business Update
GlobeNewswire News Room· 2025-05-14 11:30
Core Insights - LAVA Therapeutics is focused on delivering shareholder value through strategic alternatives and has initiated a restructuring plan that includes workforce reduction and closure of its Netherlands operations [2][5][9] - The company is advancing its clinical pipeline, particularly LAVA-1266, which is in a Phase 1 trial targeting CD123+ tumor cells for hematological malignancies [3][6][14] - Financial results for Q1 2025 show a net loss of $3.5 million, with cash and short-term investments totaling $66.6 million, expected to fund operations into 2027 [4][9][11] Corporate Updates - The company has implemented a significant reduction in workforce, approximately 30%, to align resources with its focus on LAVA-1266 [9][10] - A repayment waiver of $5.2 million was secured from the Netherlands Enterprise Agency, aiding in financial restructuring [2][9] - The closure of the Utrecht facility is expected to incur approximately $0.9 million in expenses, while the termination of the lease in Den Bosch is projected to cost around $2.0 million [9][10] Financial Performance - Revenue from contracts with customers was zero for Q1 2025, compared to $7.0 million in Q1 2024, which included a milestone payment from Pfizer [6][9] - Research and development expenses decreased to $4.2 million in Q1 2025 from $5.6 million in Q1 2024, primarily due to lower clinical costs [9][10] - The company reported a comprehensive loss of $2.5 million for Q1 2025, compared to a loss of $1.7 million in Q1 2024 [10][12] Clinical Pipeline - LAVA-1266 is currently enrolling patients in a Phase 1 trial in Australia and Spain, targeting relapsed/refractory acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) [6][14] - Johnson & Johnson's partnered program, JNJ-89853413, is also in a Phase 1 trial for hematological cancers, with a milestone payment of $5 million received in Q4 2024 [6][9] - Pfizer's partnered program, PF08046052, is in a Phase 1 trial for advanced solid tumors, with a clinical development milestone of $7 million received in Q1 2024 [6][9]