On August 12, 2024, Avalo Therapeutics, Inc., a clinical-stage biotechnology company, announced its financial results for the second quarter ended June 30, 2024. The company reported a net loss of $22.8 million, an increase from the previous year, primarily due to a $27.6 million expense related to acquired in-process research and development from the AlmataBio, Inc. acquisition. Despite the increased net loss, Avalo highlighted a strong cash position with $93.4 million on hand, expected to fund operations into 2027. Additionally, Avalo announced the activation of the IND for AVTX-009, allowing the commencement of the Phase 2 LOTUS Trial for the treatment of hidradenitis suppurativa (HS). The company expects to enroll the first patient in the second half of 2024. Avalo also appointed Dr. Mittie Doyle as Chief Medical Officer and Paul Varki as Chief Legal Officer, strengthening its leadership team. The company's shares are traded on the Nasdaq Capital Market under the symbol AVTX.

On August 12, 2024, Avalo Therapeutics, Inc., a clinical-stage biotechnology company, announced its financial results for the second quarter ended June 30, 2024. The company reported a net loss of $22.8 million, an increase from the previous year, primarily due to a $27.6 million expense related to acquired in-process research and development from the AlmataBio, Inc. acquisition. Despite the increased net loss, Avalo highlighted a strong cash position with $93.4 million on hand, expected to fund operations into 2027. Additionally, Avalo announced the activation of the IND for AVTX-009, allowing the commencement of the Phase 2 LOTUS Trial for the treatment of hidradenitis suppurativa (HS). The company expects to enroll the first patient in the second half of 2024. Avalo also appointed Dr. Mittie Doyle as Chief Medical Officer and Paul Varki as Chief Legal Officer, strengthening its leadership team. The company's shares are traded on the Nasdaq Capital Market under the symbol AVTX.