On November 7, 2024, Avalo Therapeutics, Inc., a clinical stage biotechnology company, reported its financial results for the third quarter ended September 30, 2024. The company announced significant progress in its Phase 2 LOTUS trial, having dosed the first patient with AVTX-009, a monoclonal antibody for the treatment of hidradenitis suppurativa (HS), and expects topline data by 2026. Avalo's cash position stood at approximately $82 million as of September 30, 2024, bolstered by $58 million from warrant exercise proceeds in the fourth quarter, extending its financial runway into at least 2027. Research and development expenses increased to $9.5 million due to the LOTUS trial initiation, while general and administrative expenses rose to $4.3 million, primarily due to employee compensation and professional expenses. The company reported a net income of $23.0 million for the quarter, a significant improvement from a net loss of $5.2 million in the same period of 2023, largely due to a change in the fair value of the warrant liability. Avalo Therapeutics continues to evaluate AVTX-009 for additional immune-mediated diseases as it selects a second indication for treatment.

On November 7, 2024, Avalo Therapeutics, Inc., a clinical stage biotechnology company, reported its financial results for the third quarter ended September 30, 2024. The company announced significant progress in its Phase 2 LOTUS trial, having dosed the first patient with AVTX-009, a monoclonal antibody for the treatment of hidradenitis suppurativa (HS), and expects topline data by 2026. Avalo's cash position stood at approximately $82 million as of September 30, 2024, bolstered by $58 million from warrant exercise proceeds in the fourth quarter, extending its financial runway into at least 2027. Research and development expenses increased to $9.5 million due to the LOTUS trial initiation, while general and administrative expenses rose to $4.3 million, primarily due to employee compensation and professional expenses. The company reported a net income of $23.0 million for the quarter, a significant improvement from a net loss of $5.2 million in the same period of 2023, largely due to a change in the fair value of the warrant liability. Avalo Therapeutics continues to evaluate AVTX-009 for additional immune-mediated diseases as it selects a second indication for treatment.