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Avalo Therapeutics | 8-K: Avalo Reports First Quarter 2024 Financial Results and Provides Business Updates

Avalo Therapeutics | 8-K: Avalo Reports First Quarter 2024 Financial Results and Provides Business Updates

Avalo Therapeutics | 8-K:Avalo公布2024年第一季度财务业绩并提供业务最新情况
美股sec公告 ·  05/13 07:34
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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.
Avalo Therapeutics, Inc.于2024年5月13日公布了截至2024年3月31日的第一季度财务业绩。该公司宣布本季度净亏损1.213亿美元,这主要归因于认股权证公允价值超过私募收益。认股权证发行时的初始公允价值为1.949亿美元,超过了1.156亿美元的前期总收益,导致了确认亏损。阿瓦洛还披露了截至2024年3月31日的现金状况约为1.1亿美元,并预计其现金流将延续到2027年。该公司正准备在年内启动 AVTX-009 治疗化脓性汗腺炎的 2 期试验,还计划开发用于至少另一种慢性炎症适应症的药物。此外,Avalo正在对其quisovalimab和 AVTX-008 项目进行战略审查。该公司的股票在纳斯达克资本市场上市,股票代码为AVTX。
Avalo Therapeutics, Inc.于2024年5月13日公布了截至2024年3月31日的第一季度财务业绩。该公司宣布本季度净亏损1.213亿美元,这主要归因于认股权证公允价值超过私募收益。认股权证发行时的初始公允价值为1.949亿美元,超过了1.156亿美元的前期总收益,导致了确认亏损。阿瓦洛还披露了截至2024年3月31日的现金状况约为1.1亿美元,并预计其现金流将延续到2027年。该公司正准备在年内启动 AVTX-009 治疗化脓性汗腺炎的 2 期试验,还计划开发用于至少另一种慢性炎症适应症的药物。此外,Avalo正在对其quisovalimab和 AVTX-008 项目进行战略审查。该公司的股票在纳斯达克资本市场上市,股票代码为AVTX。
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