OrbiMed discloses 6.4% Avalo Therapeutics (AVTX) ownership stake

Rhea-AI Filing Summary

OrbiMed Advisors LLC filed an amended Schedule 13G stating beneficial ownership of 1,187,300 shares of Avalo Therapeutics common stock, representing 6.4% of the class as of December 31, 2025.

OrbiMed reports zero sole voting or dispositive power and shared voting and dispositive power over all 1,187,300 shares, held on behalf of other persons entitled to dividends or sale proceeds. The firm certifies the position was not acquired to change or influence control of Avalo Therapeutics.

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Accepted by SEC EDGAR 02/17/2026 - 06:13 PM Learn about SEC filing dates

FAQ

What does OrbiMed Advisors' Schedule 13G/A filing for AVTX report?

OrbiMed Advisors' Schedule 13G/A reports beneficial ownership of 1,187,300 Avalo Therapeutics common shares, equal to 6.4% of the class. The position is reported as of December 31, 2025, under a passive ownership certification not intended to influence control.

How large is OrbiMed Advisors' ownership stake in Avalo Therapeutics (AVTX)?

OrbiMed Advisors reports owning 1,187,300 Avalo Therapeutics common shares, representing 6.4% of the outstanding class. This crosses the 5% threshold that requires a Schedule 13G filing, indicating a significant but minority institutional position in the company.

Does OrbiMed Advisors control voting and disposition of its AVTX shares?

OrbiMed Advisors reports no sole voting or dispositive power and shared voting and dispositive power over all 1,187,300 Avalo shares. Investment and voting decisions are exercised through a management committee, reflecting shared authority rather than individual control over the stake.

Are OrbiMed Advisors' AVTX shares held on behalf of other investors?

Yes. OrbiMed Advisors states it holds 6.4% of Avalo’s common stock on behalf of other persons who may receive dividends or sale proceeds. This reflects its role as an investment adviser managing client assets rather than owning the entire economic interest itself.

Is OrbiMed Advisors seeking to influence control of Avalo Therapeutics?

No. OrbiMed certifies the Avalo Therapeutics shares were not acquired and are not held to change or influence control of the issuer. The filing is made on a passive basis under Schedule 13G, rather than the activist-focused Schedule 13D framework.

Who signs the OrbiMed Advisors Schedule 13G/A related to Avalo Therapeutics?

The Schedule 13G/A is signed by Carl L. Gordon as a member of OrbiMed Advisors LLC. The signature certifies, after reasonable inquiry, that the information about Avalo Therapeutics ownership is true, complete, and correct to the best of his knowledge and belief.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Avalo Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

05338F306

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 05338F306

1

Names of Reporting Persons

OrbiMed Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,187,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,187,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,187,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Avalo Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 1500 Liberty Ridge Drive, Suite 321 Wayne, Pennsylvania 19087
Item 2.
(a)	Name of person filing: OrbiMed Advisors LLC
(b)	Address or principal business office or, if none, residence: 601 Lexington Avenue, 54th Floor New York, NY 10022
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 05338F306
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,187,300
(b)	Percent of class: 6.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,187,300
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,187,300
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Reporting Persons hold 6.4% of the shares of Common Stock in the aggregate on behalf of other persons who have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, such securities. OrbiMed Advisors LLC exercises investment and voting power over the shares of Common Stock through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares of Common Stock reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

OrbiMed Advisors LLC

Signature:	/s/ Carl L. Gordon
Name/Title:	Carl L. Gordon / Member of OrbiMed Advisors LLC
Date:	02/17/2026