LAVA Therapeutics Reports $0 Revenue and Widened Losses in Q1 2025

LAVA Therapeutics N.V. reported a significant decline in revenue for the first quarter of 2025, with total revenue recorded at $0, compared to $6.99 million in the same period of 2024. This drop is attributed to the absence of revenue recognition from its collaboration agreement with Pfizer, which had previously contributed to the revenue through milestone payments. The company’s operating loss widened to $7.59 million, up from $2.04 million in the prior year, primarily due to increased operational costs and a lack of revenue generation.

In terms of expenses, LAVA Therapeutics managed to reduce its total costs to $7.59 million from $9.03 million year-over-year. Research and development expenses decreased to $4.16 million from $5.65 million, reflecting a reduction in clinical trial activities, particularly following the discontinuation of the LAVA-1207 clinical trial. General and administrative expenses remained relatively stable, increasing slightly to $3.43 million from $3.38 million, driven by higher personnel-related costs and professional fees associated with compliance and financial consulting.

Strategically, LAVA Therapeutics has initiated a restructuring plan aimed at extending its capital resources and aligning its workforce with its focus on the LAVA-1266 program. This plan includes a workforce reduction of approximately 30%, which resulted in $0.5 million in associated expenses during the quarter. The company also announced the termination of its operating lease for laboratory and office space in Utrecht, which is expected to incur additional costs of approximately $0.9 million in the upcoming quarter.

As of March 31, 2025, LAVA Therapeutics reported cash and cash equivalents of $39.67 million, an increase from $35.02 million at the end of 2024. The company’s accumulated deficit has grown to $178.45 million, reflecting ongoing operational losses. LAVA Therapeutics anticipates that its current cash position will be sufficient to fund operations for at least the next twelve months, although it may need to seek additional capital to support its research and development activities.

Looking ahead, LAVA Therapeutics is focused on advancing its Gammabody platform, particularly the LAVA-1266 candidate, which is currently in a Phase 1 clinical trial. The company expects to provide initial data from this trial by the end of 2025. However, the need for additional funding remains a critical factor, as the company continues to evaluate strategic alternatives to enhance its financial position and operational capabilities.