Avalo Therapeutics, Inc. - AVTX STOCK NEWS

Avalo Therapeutics,Inc. (NASDAQ: AVTX) announced a public offering of 3,770,000 shares of its common stock and warrants at $3.98 per unit. The warrants, with a one-year term, have an exercise price of $5.00. The offering is expected to raise approximately $15 million before expenses and is scheduled to close on February 7, 2023. The offering is conducted under a shelf registration statement effective since March 19, 2021. SVB Securities and RBC Capital Markets are the joint bookrunning managers. This announcement is pivotal for investors as it reflects Avalo's capital-raising strategy to support its clinical pipeline.

Avalo Therapeutics, Inc. (NASDAQ: AVTX) has initiated a proposed underwritten public offering of its common stock and warrants. The offering will be conducted under a previously filed shelf registration statement with the SEC. SVB Securities and RBC Capital Markets are serving as joint bookrunning managers for this offering. The specific terms and size remain undisclosed and are subject to market conditions. The final details will be outlined in a prospectus supplement to be filed with the SEC. Avalo focuses on developing therapies for immune dysregulation targeting the LIGHT network, which is crucial in various autoimmune and inflammatory conditions.

Avalo Therapeutics (AVTX) announced the completion of patient enrollment for its Phase 2 PEAK Trial of AVTX-002, targeting Non-Eosinophilic Asthma (NEA). The trial aims to evaluate the safety and efficacy of the fully human monoclonal antibody over 12 weeks, targeting key asthma-related events. Topline data from the trial is anticipated in Q2 2023. CEO Dr. Garry Neil expressed enthusiasm about reaching this milestone, emphasizing the potential clinical significance of LIGHT inhibition in treating various inflammatory diseases. The trial's primary endpoint focuses on specific asthma exacerbation metrics, marking a critical step in Avalo's ongoing research and development efforts.

Avalo Therapeutics reported significant updates and financial results for Q3 2022. Key activities include progress in the Phase 2 PEAK trial of AVTX-002 for non-eosinophilic asthma, with topline data expected in H1 2023. The company anticipates $5 million from selling future economic rights to previously out-licensed assets. As of September 30, 2022, Avalo maintains approximately $17 million in cash, reflecting a notable decrease from the end of 2021. Revenues totaled $17.2 million for the nine months ended Sept 30, 2022, largely due to a $14.5 million upfront payment from the out-license of AVTX-007.

Avalo Therapeutics, Inc. (Nasdaq: AVTX) has entered into a purchase agreement with ES Therapeutics, LLC to sell its economic rights to future payments from out-licensed assets for $5 million. The transaction is set to close in November and is part of Avalo's strategy to enhance its financial position, having raised $20 million in nondilutive funding since August. The funds will support its lead asset, AVTX-002, now in Phase 2 trials for non-eosinophilic asthma, with data expected in the first half of next year.

Avalo Therapeutics has announced that its BTLA agonist fusion protein, AVTX-008, has entered IND-enabling studies, targeting a submission date in 2024. The company is focusing on immune dysregulation disorders and leveraging its collaboration with Dr. Carl Ware. AVTX-002, another key product, is in Phase 2 trials for non-eosinophilic asthma. The LIGHT-signaling network is central to Avalo's strategy, aiming to address critical immunological conditions. This advancement positions Avalo to potentially lead in the development of innovative therapies for autoimmune and inflammatory diseases.

Avalo Therapeutics (Nasdaq: AVTX) announced that CEO Garry A. Neil will present at the H.C. Wainwright Global Investment Conference from September 12-14, 2022. The presentation will be pre-recorded and available on September 12 at 7:00 AM ET, accessible via the Investors section of the company's website. Avalo is a clinical-stage biotechnology firm focused on therapies targeting immune dysregulation by developing solutions that interact with the LIGHT-signaling network, which plays a role in autoimmune and inflammatory disorders.

Avalo Therapeutics, Inc. (Nasdaq: AVTX) announced the resignation of two board members, Steven Boyd and Keith Maher, effective August 8, 2022. Their resignations were not due to any disagreements with the company. Following this, Dr. Garry Neil has been appointed as Chairman of the Board. Boyd expressed satisfaction with Avalo's strategic progress under Neil's leadership, emphasizing ongoing support for the company. Avalo develops targeted therapeutics for immunology and rare genetic diseases, highlighting a commitment to addressing significant clinical needs.

Avalo Therapeutics (AVTX) reported significant clinical advancements in its Q2 2022 update, dosing the first patients in pivotal trials for AVTX-002 and AVTX-803. The company secured approximately $15 million from the transfer of its AVTX-007 program to Apollo Therapeutics, enhancing its financial position. As of June 30, 2022, Avalo held $11.2 million in cash, down from $54.6 million at the end of 2021 due to operating costs. Despite a reduction in total operating expenses, net loss for Q2 was $12.99 million, reflecting ongoing development expenses and the impact of a reverse stock split.