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Avalo Therapeutics, Inc. - $AVTX STOCK NEWS

Welcome to our dedicated page for Avalo Therapeutics news (Ticker: $AVTX), a resource for investors and traders seeking the latest updates and insights on Avalo Therapeutics stock.

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.

Rhea-AI Summary

Avalo Therapeutics, Inc. (Nasdaq: AVTX) provided business updates and financial results for Q1 2024, highlighting progress on AVTX-009 trial in hidradenitis suppurativa, cash position of $110 million, and plans for future drug development. The company reported a net loss of $121.3 million, attributed to warrant fair value and acquisition expenses.

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Avalo Therapeutics, Inc. (AVTX) appoints industry veterans Aaron Kantoff, Jonathan Goldman, and Samantha Truex as Independent Directors. The appointments coincide with Avalo's acquisition of AVTX-009 and a $185 million private placement financing. The new board members bring extensive experience in biotech, finance, and clinical development to drive the development of AVTX-009 for autoimmune conditions.
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Avalo Therapeutics, Inc. has acquired AVTX-009, a Phase-2 ready anti-IL-1β mAb, in March 2024. The company increased its cash position through private placement financing, securing up to $185 million, with an initial upfront investment of $115.6 million. Topline results from the Phase 2 trial of AVTX-009 in hidradenitis suppurativa are expected in 2026, with an anticipated cash runway into 2027.
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Avalo Therapeutics, Inc. acquires Phase 2-ready anti-IL-1β mAb AVTX-009 through the acquisition of AlmataBio, Inc. They executed a private placement financing of up to $185 million, with an initial upfront investment of $115.6 million, extending cash runway into 2027. Topline results from a planned Phase 2 trial in hidradenitis suppurativa are expected in 2026. The company aims to develop AVTX-009 in HS and other chronic inflammatory indications, believing it has high success potential. The acquisition is expected to close on March 28, 2024, with a focus on treating inflammatory conditions.
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Avalo Therapeutics, Inc. (AVTX) announced a 1-for-240 reverse stock split of the Company’s common stock to increase the per share price and regain compliance with Nasdaq Capital Market listing requirements. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage ownership interest in the Company. No fractional shares will be issued, and each stockholder who would otherwise be entitled to receive a fraction of a share of the Company’s common stock will instead receive one whole share of common stock.
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Company XYZ (XYZ) Adjourns Annual Meeting to December 20, 2023
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Avalo Therapeutics, Inc. (Nasdaq: AVTX) successfully eliminated $35 million debt, divested AVTX-800 series for potential $45 million milestone payments, and disclosed improved cash of approximately $10.2 million. The company's focus on immunology assets, including anti-LIGHT mAb and BTLA agonist fusion protein, positions it for future growth and innovation.
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Avalo Therapeutics has completed the divestiture of its 800 Series programs to AUG Therapeutics. AUG paid an upfront payment of $150,000 and is obligated to make a contingent milestone payment of up to $45 million. Avalo's pipeline will now focus on immunology assets.
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Avalo Therapeutics pays off $35 million debt to Horizon Technology Finance Corporation, signaling financial stability and paving the way for future growth and progress. Lead asset, quisovalimab, has demonstrated clinical proof of concept in inflammatory diseases. BTLA agonist fusion protein, AVTX-008, has potential to be a best-in-class molecule. Company well-positioned to pursue collaborations and bring innovative treatments to market.
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Avalo Therapeutics sells rights to 800 Series programs to AUG Therapeutics for upfront payment of $150,000 and potential milestone payment of $45 million. Transaction expected to close in Q4 2023.
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FAQ

What is Avalo Therapeutics’ primary focus?

Avalo Therapeutics focuses on developing therapies for immune dysregulation and inflammatory diseases.

What is the lead asset of Avalo Therapeutics?

The lead asset is AVTX-009, an anti-IL-1B monoclonal antibody targeting inflammatory diseases.

Who is the CEO of Avalo Therapeutics?

Dr. Garry A. Neil, MD, is the Chief Executive Officer and Chairman of the Board at Avalo Therapeutics.

What recent financial milestone has Avalo Therapeutics achieved?

Avalo recently paid off a $35 million debt to Horizon Technology Finance Corporation ahead of schedule.

What are quisovalimab and AVTX-008?

Quisovalimab (AVTX-002) is an anti-LIGHT mAb, and AVTX-008 is a BTLA agonist fusion protein, both targeting immune regulation pathways.

Where is Avalo Therapeutics headquartered?

The company is headquartered in Wayne, Pennsylvania, and Rockville, Maryland.

What significant partnerships does Avalo have?

Avalo collaborates with various laboratories and research institutes, including those at Johns Hopkins Medical Institute.

What is the significance of AVTX-002?

AVTX-002 targets the LIGHT-signaling network, pivotal in treating autoimmune and inflammatory diseases.

How is Avalo positioned for future growth?

With a strengthened financial position and experienced leadership, Avalo is well-positioned to advance its promising drug pipeline.

Where can I find more information about Avalo Therapeutics?

For more information, visit their official website at www.avalotx.com.

Avalo Therapeutics, Inc.

Nasdaq:AVTX

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