Lava Therapeutics implements restructuring plan, workforce reduction of 30%

In connection with the evaluation of strategic alternatives, LAVA is implementing a restructuring plan that includes a workforce reduction of approximately thirty percent, furthering cost-containment and cash conservation measures. The Company intends to retain all employees essential for supporting value creation as part of its strategic review. The Company estimates that it will incur approximately $0.5 million of one-time costs primarily incurred in Q1 2025 related to the workforce reduction. As of December 31, 2024, the Company’s cash, cash equivalents, and investments were $76.6 million.