LAVA Therapeutics Stock Slips 9% Pre-Market Here's Why The Company Canceled Its Shareholder Meeting

Shares of LAVA Therapeutics (LVTX) declined 8% in the pre-market session on Tuesday after the company canceled the Extraordinary General Meeting of shareholders scheduled to occur today.

The company said that it canceled the meeting to consider and approve certain matters related to its proposed transaction with XOMA Royalty Corporation (XOMA). XOMA announced in August that it will acquire LAVA for between $1.16 and $1.24 per share in cash, in addition to a contingent value right per share. The deal is expected to close in the fourth quarter (Q4) of 2025.

The company said on Tuesday that it is canceling the meeting to continue discussions with XOMA concerning its estimated cash forecast and the consideration payable to the company's shareholders in the transaction.

LAVA also noted that both parties remain committed to completing the transaction by the fourth quarter.

On Stocktwits, retail sentiment around LVTX stock rose from 'bearish' to 'bullish' territory over the past 24 hours, while message volume stayed at 'high' levels.

“We are committed to closing this transaction and look forward to working collaboratively with the LAVA team to further define LAVA's cash forecast in an effort to close this transaction in an expeditious manner,” said XOMA CEO Owen Hughes.

LAVA said on Tuesday that it expects to reconvene the shareholder meeting by early November. The date will be ascertained at a later date, and shareholders who have voted will have to cast their votes again on the matters proposed, it added.

LVTX stock is up 69% this year but down approximately 3% over the past 12 months. 

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