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Avalo Therapeutics, Inc. (Nasdaq: AVTX) is a clinical-stage biotechnology company dedicated to addressing immune dysregulation through innovative therapeutics. Headquartered in Wayne, Pennsylvania, and Rockville, Maryland, Avalo Therapeutics focuses on developing treatments for a range of inflammatory diseases.
The company's lead therapeutic candidate is AVTX-009, an anti-IL-1B monoclonal antibody (mAb) aimed at combating inflammatory diseases. Additionally, Avalo's robust pipeline features promising drugs such as quisovalimab (AVTX-002)—an anti-LIGHT mAb—and AVTX-008, a BTLA agonist fusion protein.
Recently, Avalo achieved a significant milestone by eliminating a $35 million debt to Horizon Technology Finance Corporation, showcasing its commitment to financial stability and future growth. With this strengthened balance sheet, the company is poised to advance its leading drug candidates and explore new opportunities in the biotech sector.
Under the leadership of Dr. Garry A. Neil, MD, Avalo’s team brings decades of experience in drug development. Dr. Neil's notable past roles include Group President of Pharmaceutical R&D at Johnson & Johnson and Chairman of Arena Pharmaceuticals, which was acquired by Pfizer for $6.7 billion in 2022. This experienced team is dedicated to bringing innovative treatments to market and improving patients' lives.
Latest News: In September 2023, Avalo announced the full repayment of its $35 million debt to Horizon Technology Finance Corporation ahead of schedule. This accomplishment highlights the company’s financial discipline and readiness to focus on advancing its core immunology assets, including AVTX-002 and AVTX-008, which target the LIGHT-signaling network and BTLA pathway, respectively.
About AVTX-009: AVTX-009 is designed to target IL-1B, an inflammatory cytokine implicated in various diseases. By inhibiting IL-1B, AVTX-009 aims to reduce inflammation and treat conditions like rheumatoid arthritis and other chronic inflammatory diseases.
About quisovalimab (AVTX-002): Quisovalimab is unique in targeting the LIGHT-signaling network, which plays a pivotal role in immune response. By moderating LIGHT levels, AVTX-002 has shown promise in treating acute and chronic inflammatory conditions, including Crohn's Disease and COVID-19 induced acute respiratory distress syndrome.
About AVTX-008: This drug candidate is a fully human BTLA agonist fusion protein, targeting the BTLA pathway to regulate immune responses. It's in the IND-enabling stage and represents a potential best-in-class therapy for immune-mediated diseases.
Avalo Therapeutics continues to leverage its strategic partnerships and scientific expertise to drive its pipeline forward, aiming to deliver groundbreaking treatments and address unmet medical needs in immune dysregulation.
Avalo Therapeutics (AVTX) announced the completion of enrollment in the Phase 2 PEAK Trial for AVTX-002, targeting non-eosinophilic asthma, with topline data expected in Q2 2023. As of December 31, 2022, the company reported cash reserves of approximately $13 million and a significant decrease in total revenues to $18 million compared to 2021. Operating expenses were reduced by $32 million, primarily through a focus on lead assets and cost-cutting measures. Despite these improvements, the net loss for 2022 was $41.6 million, leading to a net loss per share of $4.43. The company aims for a transformative 2023 with upcoming pivotal trial data.
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