Lakefront Biotherapeutics H1 2026 Results; Acquires Ouro; €1.6B Cash

Lakefront Biotherapeutics (formerly Galapagos NV) announced its half-year 2026 financial results, reporting a net profit of €16.6 million, a significant turnaround from a net loss in the prior year, despite an 87% decrease in total net revenues to €18.6 million. The company completed the acquisition of Ouro Medicines with Gilead Sciences to advance gamgertamig, a potential first-in-class T-cell engager, which has received US FDA Fast Track and Orphan Drug Designation. Lakefront maintained its year-end 2026 cash and financial investments guidance of approximately €2 billion, including a newly announced €50 million share repurchase program. The company forecasts at least €1.6 billion in cash remaining for additional strategic transactions after funding gamgertamig to its first approval.