Lakefront Biotherapeutics nine-month revenue drops 88% as Gilead access rights end
Overview
Biotech firm's nine-month revenue fell 88% yr/yr after Gilead access rights ended
Company returned to profit, reporting €13.9 mln net income versus €461.3 mln loss a year ago
October 16, Lakefront completed a €50 mln share buyback program
Outlook
Lakefront expects year-end 2026 cash and financial investments of €2.0-2.05 bln
Company forecasts at least €1.6 bln cash available for strategic transactions after portfolio funding
Lakefront to change reporting and functional currency to U.S. dollar effective January 2027
Result Drivers
REVENUE DECLINE - Revenue fell sharply after full recognition of Gilead access rights ended in 2025
LOWER EXPENSES - R&D and G&A costs declined mainly due to reduced personnel and lower cell therapy spending after wind-down
FINANCIAL GAINS - Positive fair value adjustments and currency gains boosted net profit
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Revenue | EUR 26.10 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Lakefront Biotherapeutics NV is €28.95, about 2.9% below its November 11 closing price of €29.80
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)