Avalo Therapeutics, Inc. reported its financial results for the first quarter ended March 31, 2024, on May 13, 2024. The company announced a net loss of $121.3 million for the quarter, which was primarily attributed to the excess of warrant fair value over private placement proceeds. The initial fair value of the warrants at issuance was $194.9 million, exceeding the upfront gross proceeds of $115.6 million, resulting in a recognized loss. Avalo also disclosed a cash position of approximately $110 million as of March 31, 2024, and expects its cash runway to extend into 2027. The company is preparing to initiate a Phase 2 trial of AVTX-009 in hidradenitis suppurativa within the year and is also planning to develop the drug for at least one other chronic inflammatory indication. Additionally, Avalo is conducting strategic reviews of its quisovalimab and AVTX-008 programs. The company's stock is traded on the Nasdaq Capital Market under the symbol AVTX.

Avalo Therapeutics, Inc. reported its financial results for the first quarter ended March 31, 2024, on May 13, 2024. The company announced a net loss of $121.3 million for the quarter, which was primarily attributed to the excess of warrant fair value over private placement proceeds. The initial fair value of the warrants at issuance was $194.9 million, exceeding the upfront gross proceeds of $115.6 million, resulting in a recognized loss. Avalo also disclosed a cash position of approximately $110 million as of March 31, 2024, and expects its cash runway to extend into 2027. The company is preparing to initiate a Phase 2 trial of AVTX-009 in hidradenitis suppurativa within the year and is also planning to develop the drug for at least one other chronic inflammatory indication. Additionally, Avalo is conducting strategic reviews of its quisovalimab and AVTX-008 programs. The company's stock is traded on the Nasdaq Capital Market under the symbol AVTX.