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LVTX under $2
LVTX, under $2
LAVA Announces Evaluation of Strategic Options
Advisor engaged in evaluating strategic options to maximize shareholder value
Cash balance of $76.6 million as of December 31, 2024
UTRECHT, The Netherlands and PHILADELPHIA, Feb. 25, 2025 (GLOBE NEWSWIRE) -- LAVA Therapeutics N.V. (NASDAQ: LVTX, “LAVA,” “the Company”), a clinical-stage immuno-oncology company focused on developing its proprietary Gammabody® platform of bispecific gamma delta T cell engagers, announced that the Company has initiated a process to review strategic options focused on maximizing shareholder value and has implemented cost curtailment including a workforce reduction. The Company has retained an experienced financial advisor to support LAVA with the strategic evaluation process. LAVA will continue to enroll in the Phase 1 clinical study evaluating the safety and pharmacokinetics of LAVA-1266 in hematologic malignancies, including acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS), and support its partnerships with Pfizer and Johnson and Johnson.
“While we will continue investigating LAVA-1266 in the potential treatment of AML and MDS and supporting our Gammabody pharma partnerships, with only one product in clinical development and an early-stage pipeline, we felt it appropriate to investigate strategic opportunities to drive additional shareholder value. LAVA is in a strong position to unlock strategic opportunities for the Company, in addition to our proprietary pipeline and partnered programs,” said Steve Hurly, Chief Executive Officer of LAVA.
The Company will explore and evaluate diverse strategic options to maximize shareholder value, including in-licensing of assets, a sale, licensing agreement, merger, acquisition, or other strategic transactions. There can be no assurance that this process will result in any such transaction. LAVA’s Board of Directors has not set a timetable for the strategic review process. LAVA does not intend to provide updates until the Board approves a specific action or otherwise determines that disclosure is appropriate or required.
In connection with the evaluation of strategic alternatives, LAVA is implementing a restructuring plan that includes a workforce reduction of approximately thirty percent, furthering cost-containment and cash conservation measures. The Company intends to retain all employees essential for supporting value creation as part of its strategic review. The Company estimates that it will incur approximately $0.5 million of one-time costs primarily incurred in Q1 2025 related to the workforce reduction.
“I want to express my sincere gratitude to each of our employees being affected by this workforce reduction,” said Mr. Hurly. “We thank them for their dedicated service and contribution to LAVA’s mission to advancing the portfolio of bispecific T cell engagers and our proprietary Gammabody platform.”
As of December 31, 2024, the Company’s cash, cash equivalents, and investments were $76.6 million (unaudited)
LVTX under $2
LVTX 10Q due AUGUST 19
LVTX under $3
LVTX under $2
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LVTX 10Q due 3/22
LVTX new 52 week high
LVTX: And there she goes!! (That MERCK name can do things, ya know.)
LVTX: The heck with those "SXTC-like", Chinese BAD-Fortune-Cookie routines!! Check-out the LVTX 'Bollinger-Curves' on MY cute 'Scanners'!! (See below!!)
"I suddenly feel a Short-SQUEEZE of sorts comin' on!! Can ya all help-me-out a little bit, Fellas??!!"
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Cash Position The company has 28.7 months of cash left based on quarterly cash burn of -$9.62M and estimated current cash of $92.1M.
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