August 13, 2025 — LAVA Therapeutics N.V. (NASDAQ: LVTX) announced it has entered into an agreement to be acquired by XOMA Royalty Corporation for between $1.16 and $1.24 per share in cash, plus a contingent value right related to LAVA’s two partnered assets and unpartnered programs. The acquisition is expected to close in the fourth quarter of 2025, pending customary conditions and shareholder approval. The company also announced the discontinuation of the LAVA-1266 development for acute myeloid leukemia and myelodysplastic syndrome.
LAVA Therapeutics, a clinical-stage immuno-oncology company focused on Gammabody® bispecific gamma delta T cell engagers, reported financial results for the second quarter ended June 30, 2025. The decision to be acquired followed a strategic review process aimed at maximizing shareholder value.
Under the share purchase agreement with XOMA, a tender offer will be commenced by August 15, 2025, to acquire all outstanding common shares of LAVA. The agreement includes potential contingent cash payments related to the company’s partnered and unpartnered assets.
LAVA had cash, cash equivalents, and short-term investments of $56.2 million as of June 30, 2025, compared to $76.6 million at the end of 2024. Revenue remained zero for the quarter, while research and development expenses decreased due to restructuring and program discontinuation. The net loss for the quarter was $8.6 million, or $0.32 per share.
Updates on Partnered Programs:
- Johnson & Johnson (J&J) Partnered Program (JNJ-89853413): Phase 1 trial enrolling patients with relapsed or refractory AML or MDS.
- Pfizer Partnered Program (PF08046052): Phase 1 trial enrolling patients with advanced solid tumors.
Investor Relations: ir@lavatherapeutics.com
LifeSci Advisors (IR/Media): Joyce Allaire, Jallaire@lifesciadvisors.com
Source: LAVA Therapeutics N.V.
