12:25 PM EDT, 10/17/2025 (MT Newswires) -- XOMA Royalty ( XOMA ) agreed to reduce the cash portion of its offer to acquire Lava Therapeutics ( LVTX ) as part of an amended deal and has extended the tender deadline to Nov. 12.

Under the revised terms, XOMA will acquire Lava Therapeutics ( LVTX ) for an initial cash payment of $1.04 a share, down from the previously announced range of $1.16 to $1.24. Shareholders will also receive a non-transferable contingent value right per share, tied to future cash payments from partnered and unpartnered assets.

The minimum net-cash closing condition was lowered to $24.5 million from $31.5 million, the companies said Friday in a statement.

The tender offer had been scheduled to expire Friday following a prior extension. Lava Therapeutics ( LVTX ) plans to hold a shareholder meeting on Nov. 7 to seek approval for the transaction.

The proposed acquisition is expected to close in Q4, subject to customary closing conditions.

XOMA Royalty ( XOMA ) shares fell 4.1% in Friday trading, and Lava Therapeutics ( LVTX ) rose 0.6%.

Price: 35.00, Change: -1.49, Percent Change: -4.08