LAVA to be acquired by XOMA for up to $1.24/share; Q2 net loss $0.32/share

LAVA Therapeutics NV

Agreed to be acquired by XOMA Royalty Corporation for $1.16-$1.24 per share in cash plus a non-transferable CVR; expected Q4 2025.
Discontinued LAVA-1266 Phase 1 program for AML/MDS; wind-down initiated.
Q2 2025 cash $56.2M (down from $76.6M at Dec 2024); revenue $0; net loss $8.6M ($0.32 loss per share).
Company may be classified as a PFIC for 2024 and 2025 taxable years, with adverse tax consequences for U.S. investors.
Partnered programs with J&J and Pfizer continue Phase 1 enrollment; no revenue from them in Q2.

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