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LAVA Therapeutics (LVTX) investor relations material
LAVA Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary13 Aug, 2025
Executive summary
Entered into a share purchase agreement with XOMA for acquisition via tender offer at $1.16–$1.24 per share plus contingent value rights, subject to customary conditions and potential adjustments based on net cash at closing.
Acquisition expected to close in Q4 2025, pending shareholder approval and other conditions.
Discontinued Phase 1 clinical trial of LAVA-1266 and initiated wind-down; previously halted LAVA-1207 program after not meeting internal benchmarks.
Implemented a restructuring plan, reducing workforce by approximately 68% and terminating lease arrangements to extend capital resources.
Current pipeline consists of two partnered programs: JNJ-89853413 with Johnson & Johnson and PF-08046052 with Pfizer, both advancing through collaborations.
Financial highlights
Cash, cash equivalents, and short-term investments totaled $56.2 million as of June 30, 2025, down from $76.6 million at year-end 2024.
Net loss for Q2 2025 was $8.6 million ($0.32/share), compared to $8.3 million ($0.31/share) in Q2 2024; net loss for H1 2025 was $12.1 million ($0.45/share), up from $8.9 million ($0.33/share) in H1 2024.
No revenue recognized in Q2 or H1 2025; $7.0 million revenue recognized in H1 2024 from a Pfizer milestone.
R&D expenses decreased to $4.7 million in Q2 2025 from $6.0 million in Q2 2024; G&A expenses fell to $2.6 million from $3.4 million.
Recognized a $5.2 million gain on extinguishment of borrowings in Q1 2025 due to forgiveness of the RVO Innovation Credit.
Outlook and guidance
Cash and investments expected to fund operations for at least 12 months from the report date, with further expense reductions anticipated as strategic alternatives are pursued.
Acquisition by XOMA anticipated to maximize shareholder value, with closing targeted for Q4 2025.
Contingent value right offers potential future payments based on partnered and unpartnered program outcomes.
Future capital requirements may increase if development activities resume or if strategic transactions are not completed.
No guidance provided on future revenue due to the absence of commercial product sales and reliance on milestone payments.
What are the key terms of the XOMA acquisition?
Explain the reasons for discontinuing LAVA-1266.
What is the status of J&J partnered program?
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Next LAVA Therapeutics earnings date
Q3 20259 Dec, 2025
Next LAVA Therapeutics earnings date
Q3 20259 Dec, 2025
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Frequently asked questions
LAVA Therapeutics N.V. is a biotechnology company focused on developing bispecific gamma-delta T cell engagers (TCEs) for cancer treatment. The company’s proprietary Gammabody platform is designed to activate the immune system by targeting gamma-delta T cells to recognize and destroy tumor cells. LAVA Therapeutics is advancing a pipeline of investigational therapies for hematologic and solid tumors through clinical research and industry collaborations. The company is headquartered in Utrecht, Netherlands, and its shares are listed on the NASDAQ.
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