Mergers & Acquisitions ·
Lakefront Biotherapeutics reported a net profit of €16.6 million for H1 2026, driven by €97.1 million in fair value…
GLPGFLakefront Biotherapeutics NV
Lakefront Biotherapeutics reported a net profit of €16.6 million for H1 2026, driven by €97.1 million in fair value adjustments and currency gains, compared to a €259.1 million loss in the prior year period. The company completed its acquisition of Ouro Medicines' operational assets from Gilead Sciences on June 4, 2026, securing rights to develop gamgertamig, a T-cell engager for autoimmune diseases. Lakefront maintains a year-end 2026 cash guidance of €1.975 billion to €2.050 billion and initiated a €50 million share repurchase program. The company also appointed Eric Hedrick as Chief Medical Officer and noted Paulo Fontoura's board resignation. Lakefront Biotherapeutics is a biotechnology company focused on developing immunology treatments.