GlobeNewswire·Nov 11, 2026, 4:01 PM ET

Lakefront Biotherapeutics Reports Nine Months 2026 Financial Results and Provides Business Update

LKFT

Lakefront Biotherapeutics announced that a gamgertamig poster was accepted for the 2026 ASH Annual Meeting, presenting Phase 1b data suggesting remission retention after B cell reconstitution without background therapy.
The company provided year-end 2026 guidance for cash & financial investments of at least €2 billion, including a new €50 million share repurchase program expected to complete by Q1 2027.
Lakefront completed a €50 million share repurchase program on October 16, 2026, buying 1.99 million shares at an average price of €25.19.
Dr. Mehdi Shahidi was appointed as a Non-Executive Independent Board Director, replacing Dr. Paulo Fontoura.
Gamgertamig received Orphan Drug Designation from the U.S. FDA for pemphigus treatment, following previous Fast Track & Orphan Designations for AIHA & ITP.
Gamgertamig is expected to enter registrational studies in 2027, with ongoing Phase 1b trials active in multiple countries for autoimmune cytopenias & seropositive autoimmune diseases.
Lakefront plans to initiate proof-of-concept basket studies for gamgertamig in additional autoimmune indications in the first half of 2027.
The company discontinued the GLPG3667 program after analyzing the competitive landscape, with no material costs expected.
Lakefront announced the substantial completion of its cell therapy wind-down, including the sale of the next-generation pipeline to Armed Cell Therapeutics BV for €8 million upfront plus up to $230 million in milestones.
Financial results for the first nine months of 2026 showed a net profit of €13.9 million, compared to a net loss of €461.3 million in the same period in 2025.
Total net revenues for the first nine months of 2026 were €26.1 million, down from €211.4 million in 2025, due to the full release of deferred income from a Gilead collaboration in late 2025.
R&D expenses decreased to €82.5 million in the first nine months of 2026 from €351.9 million in 2025, reflecting reduced spending on cell therapy activities.
Cash & financial investments totaled €2,183.1 million as of September 30, 2026, with Lakefront forecasting at least €1.6 billion remaining for strategic transactions after funding gamgertamig to approval.
Lakefront expects to change its consolidated financial statements presentation currency from the euro to the U.S. dollar effective January 1, 2027.

Company: Lakefront Biotherapeutics
Keywords: Brussels Stock Exchange:LKFT, Lakefront Biotherapeutics