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LAVA Therapeutics NV

lavatherapeutics.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Nov 6, 2025. Its latest SEC filing is a 15-12G from Dec 16, 2025.

The sections below describe the company as of the FY2024 annual report.

What Did They Do?

Develops cancer drug candidates made from bispecific antibodies that engage gamma delta T cells, for patients with blood cancers and solid tumors.

How Did They Make Money?

Pharmaceutical partners pay upfront to license drug candidates, make milestone payments when development or regulatory events occur, and may pay royalties when licensed drugs are sold; they also pay for agreed research, manufacturing, and supply work.

FY2024 revenue

Who Were Their Customers?

Pharmaceutical partners such as Pfizer and Johnson & Johnson license LAVA’s drug candidates and collaborate on development; the company also works with them on research, manufacturing, and supply activities.

Did Revenues Turn Into Profits?

No. It lost $25.1M in FY2024.

Operating income, FY2024
−248% of revenue
▼ −32% (Loss) vs FY2023 (−$43.4M, −641%)
Net income, FY2024
−210% of revenue
▼ −40% (Loss) vs FY2023 (−$41.9M, −619%)
Free cash flow, FY2024
−163% of revenue
▼ −52% (Loss) vs FY2023 (−$41M, −606%)

How Were They Changing?

Since the FY2024 annual report
Latest quarter: Q3 FY2025, the three months to Sep 30, 2025
Net income
▼ −42% (Loss)
vs −$12.3M in Q3 FY2024
  • Nov 21, 2025 XOMA’s tender offer closed and Nasdaq suspended LAVA shares Shares tendered in the offer were accepted, and Nasdaq suspended trading of LAVA shares.
  • Nov 13, 2025 XOMA became LAVA’s majority owner The closing changed control of LAVA, which became a majority-owned subsidiary of XOMA.
  • Oct 17, 2025 LAVA and XOMA revised the tender-offer terms Tendering shareholders would receive $1.04 per share plus a contingent value right, replacing the prior $1.16 to $1.24 range.
  • May 23, 2025 LAVA replaced PwC with KPMG as auditor

Pipeline focus The earlier report included a prostate-cancer candidate; the latest report says that program was discontinued and centers its lead program on blood cancers.

Who Did They Compete With?

Competes with Acepodia, Adicet Bio, Biosion USA, Cytomed Therapeutics, Editas Medicine, Eureka Therapeutics, ImCheck Therapeutics, Immatics, IN8bio, Leucid Bio, PhosphoGam, Shattuck Labs, Sandhill Therapeutics, and TC BioPharm

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