LAVA Therapeutics NV | 10-Q: FY2025 Q3 Revenue: USD 0

LB filings
2025.11.06 21:29
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Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.27.

EBIT: As of FY2025 Q3, the actual value is USD -8.09 M.

Segment Revenue

  • Revenue from Contracts with Customers: No revenue was recognized for the nine months ended September 30, 2025, compared to $6.992 million for the same period in 2024, primarily due to the absence of milestone payments from Pfizer in 2025.

Operational Metrics

  • Net Loss: The net loss for the nine months ended September 30, 2025, was $19.306 million, compared to $21.237 million for the same period in 2024, reflecting a decrease of $1.931 million.
  • Research and Development Expenses: Decreased to $11.134 million for the nine months ended September 30, 2025, from $19.881 million in 2024, primarily due to the discontinuation of clinical trials.
  • General and Administrative Expenses: Increased to $11.296 million for the nine months ended September 30, 2025, from $9.881 million in 2024, mainly due to legal and professional fees associated with the XOMA Transaction.

Cash Flow

  • Net Cash Used in Operating Activities: $30.262 million for the nine months ended September 30, 2025, compared to $19.050 million in 2024, primarily due to changes in operating assets and liabilities.
  • Net Cash Provided by Investing Activities: $40.364 million for the nine months ended September 30, 2025, compared to $1.499 million in 2024, mainly due to maturities of investments.

Unique Metrics

  • Gain on Extinguishment of Borrowings: A gain of $5.203 million was recognized in 2025 due to the waiver of the remaining loan balance by RVO.

Future Outlook and Strategy

  • Core Business Focus: The company is focused on completing the XOMA Transaction, which is expected to close in the fourth quarter of 2025. The transaction involves a tender offer for all outstanding shares, with a cash amount plus one contingent value right per share.
  • Non-Core Business: The company is discontinuing all clinical studies and nonclinical research and development activities as part of the strategic review process and restructuring plan initiated in February 2025.
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