LAVA Therapeutics jumps on merger or sale talks, cuts 30% of jobs

LAVA Therapeutics NV

25/02/2025 14:16

** Shares of LAVA Therapeutics LVTX.O rise 27.4% to $1.20 premarket, after drug developer says it is evaluating strategic options, including a potential sale or merger

** Co says it will continue to enroll patients in the early-stage clinical study of LAVA-1266 for treating hematologic malignancies, including acute myeloid leukemia and myelodysplastic syndrome

** Co also has implemented a restructuring plan, which includes a workforce reduction of about 30% to reduce costs and conserve cash

** As of Dec 31, 2023, co had 35 full-time employees - SEC filing

** Co estimates it will incur $500,000 in one-time costs related to the workforce reduction in Q1 2025

** LVTX had $76.6 mln in cash as of Dec 31, 2024

** LVTX fell 45.7% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))