Reports Q2 revenue $0 vs. $0 last year. As of June 30, Lava had cash, cash equivalents, and short-term investments of $56.2M vs. $76.6M as of December 31, 2024. “We are pleased to announce that LAVA has recently entered into a definitive agreement to be acquired by XOMA Royalty Corporation,” said CEO Steve Hurly. “This deal is the outcome of a comprehensive and diligent strategic review process by management and our Board of Directors, conducted under the guidance of our legal and financial advisors, with the objective of maximizing value for our shareholders while supporting the sustained success of LAVA’s business. Our Board of Directors has unanimously determined that the deal is in the best interests of all of our shareholders and has approved the proposed acquisition.”
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