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LVTX

LAVA Therapeutics N.V.

LVTX

LAVA Therapeutics N.V. • NASDAQ
$1.74 ▼ -3.87% (-0.07)
Market Cap $45.77 M
52w High $2.00
52w Low $0.85
Dividend Yield 0%
P/E -2
Volume 285.52K
Outstanding Shares 26.31M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $7.553M ▲ $-7.188M ▲ 0% $-0.27 ▲ $-7.179M ▲
Q2-2025 $0 $7.289M ▼ $-8.639M ▼ 0% $-0.32 ▼ $-8.559M ▼
Q1-2025 $0 ▼ $7.588M ▲ $-3.479M ▲ 0% ▲ $-0.13 ▲ $-3.018M ▲
Q4-2024 $4.99M ▲ $-12.464M ▼ $-3.97M ▲ -79.559% ▼ $-0.14 ▲ $-3.109M ▲
Q3-2024 $0 $11.285M $-12.296M 0% $-0.46 $-10.862M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $49.664M ▼ $51.915M ▼ $39.231M ▼ $12.684M ▼
Q2-2025 $56.169M ▼ $60.547M ▼ $40.612M ▼ $19.935M ▼
Q1-2025 $66.557M ▼ $71.156M ▼ $45.372M ▼ $25.784M ▼
Q4-2024 $76.576M ▼ $80.831M ▼ $53.086M ▲ $27.745M ▼
Q3-2024 $78.884M $83.357M $50.364M $32.993M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.188M ▲ $-4.868M ▲ $27.702M ▲ $0 $23.284M ▲ $-4.868M ▲
Q2-2025 $-8.639M ▼ $-13.749M ▼ $-2.497M ▼ $0 $-13.294M ▼ $-13.749M ▼
Q1-2025 $-3.479M ▲ $-11.645M ▼ $15.159M ▲ $0 ▲ $4.659M ▼ $-11.645M ▼
Q4-2024 $-4.22M ▲ $-1.405M ▲ $10.971M ▲ $-206K ▲ $8.052M ▲ $-1.405M ▲
Q3-2024 $-12.199M $-8.63M $447K $-368K $-8.123M $-8.653M

Five-Year Company Overview

Income Statement

Income Statement LAVA looks like a typical early-stage biotech on the income side: almost no product revenue and recurring operating losses. The company has been spending steadily on research and overhead, which keeps it in the red each year. Losses per share were very heavy around the IPO period and have narrowed somewhat, but the business is still far from profitability and depends on external funding and partnership income rather than sales.

Balance Sheet

Balance Sheet The balance sheet is small and relatively simple. The company holds more cash than debt, which limits financial strain, but its cash and total assets have been drifting down over time as funds are used to run trials. Equity has also declined, reflecting ongoing losses. Overall, leverage is low, but the shrinking asset base highlights a reliance on future support from its new parent (XOMA) and from partners to sustain development.

Cash Flow

Cash Flow Cash flow reflects a business that is consuming cash, not generating it. Operating cash flow has generally been negative, with only a brief period of near break-even, and free cash flow closely tracks those operating outflows because capital spending is minimal. In practice, nearly all cash goes to R&D and running the organization. Historically, the company needed capital raises and collaboration payments to fund this burn; now that responsibility largely shifts to XOMA.

Competitive Edge

Competitive Edge LAVA occupies a focused niche within immuno-oncology by working with a specific subset of T cells rather than the more common approaches used by larger players. This specialization, along with its proprietary Gammabody platform and supporting patents, provides some differentiation. Partnerships with major drug companies like Pfizer and Johnson & Johnson add credibility and potential financial upside. At the same time, the company is small, early stage, and faces competition from both established cancer players and other gamma-delta T cell developers, so its position is promising but still unproven.

Innovation and R&D

Innovation and R&D Innovation is the core of LAVA’s story. The Gammabody platform aims to harness a unique immune cell type to attack cancers, with the promise of being off‑the‑shelf and potentially safer than some existing T‑cell engagers. The pipeline is still early: one lead blood‑cancer program is in first‑in‑human testing, and partnered programs are moving forward with big pharma. The recent decision to stop a prostate cancer program shows management is willing to cut projects that do not meet internal hurdles, but it also highlights the inherent trial‑and‑error nature of biotech R&D. Overall, the science is distinctive but still at a validation stage.

Summary

LAVA Therapeutics is a small, research‑driven biotech that has been operating with minimal revenue and consistent losses, supported by its balance sheet and partnerships rather than by product sales. Its acquisition by XOMA changes the financial context: investors now mainly care about how the underlying platform and partnered assets translate into future milestone and royalty streams. The key strengths are a clearly differentiated technology, blue‑chip partners, and a relatively clean balance sheet with low debt. The main risks are the early clinical stage, ongoing cash consumption, competition in a rapidly evolving field, and the uncertainty of turning promising biology into approved drugs and meaningful financial returns.

NEWS

November 13, 2025 · 7:30 AM UTC

LAVA Announces Exceeding Minimum Condition in Tender Offer and Intent to Delist from Nasdaq

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November 10, 2025 · 4:09 PM UTC

LAVA Therapeutics N.V. Shareholders are Reminded to Tender Shares for XOMA Royalty Transaction Before November 12, 2025 Deadline

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October 20, 2025 · 12:58 PM UTC

Shareholder Alert: The Ademi Firm investigates whether LAVA Therapeutics N.V. is obtaining a Fair Price for its Public Shareholders in the Amendment to the Purchase Agreement

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September 30, 2025 · 7:00 AM UTC

LAVA Therapeutics to Move Extraordinary General Meeting to Early November 2025

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