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

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

Avalo Therapeutics | 8-K:Avalo公布2024年第二季度财务业绩并提供业务最新情况
美股SEC公告 ·  2024/08/12 19:05

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Avalo Therapeutics reported Q2 2024 financial results with $93.4 million in cash and cash equivalents as of June 30, 2024, projecting runway into 2027. The company recorded a net loss of $22.8 million for the first half of 2024, up $4.7 million YoY, primarily due to $27.6 million in acquired IPR&D expenses from the AlmataBio acquisition.The company announced plans to initiate the Phase 2 LOTUS Trial of AVTX-009, an anti-IL-1β monoclonal antibody, for hidradenitis suppurativa treatment in H2 2024, following IND activation in July. Additionally, Avalo aims to develop AVTX-009 in at least one other chronic inflammatory indication.Key management appointments include Dr. Mittie Doyle as Chief Medical Officer and Paul Varki as Chief Legal Officer. Operating expenses increased by $25.3 million, while a $21.7 million increase in other income was largely attributed to warrant liability fair value changes offsetting private placement losses.
Avalo Therapeutics reported Q2 2024 financial results with $93.4 million in cash and cash equivalents as of June 30, 2024, projecting runway into 2027. The company recorded a net loss of $22.8 million for the first half of 2024, up $4.7 million YoY, primarily due to $27.6 million in acquired IPR&D expenses from the AlmataBio acquisition.The company announced plans to initiate the Phase 2 LOTUS Trial of AVTX-009, an anti-IL-1β monoclonal antibody, for hidradenitis suppurativa treatment in H2 2024, following IND activation in July. Additionally, Avalo aims to develop AVTX-009 in at least one other chronic inflammatory indication.Key management appointments include Dr. Mittie Doyle as Chief Medical Officer and Paul Varki as Chief Legal Officer. Operating expenses increased by $25.3 million, while a $21.7 million increase in other income was largely attributed to warrant liability fair value changes offsetting private placement losses.
Avalo Therapeutics 报告了2024年第二季度的财务结果,截至2024年6月30日,现金及现金等价物为9340万,预计能延续到2027年。该公司在2024年上半年录得净亏损2280万,同比增加470万,这主要是由于获得的知识产权与研发(IPR&D)费用达2760万,源于AlmataBio的收购。该公司宣布计划在2024年下半年启动AVTX-009的第二阶段LOTUS试验,这是针对腺样囊肿治疗的抗IL-1β单克隆抗体,IND于7月激活。此外,Avalo还计划在至少一个其他慢性炎症适应症中开发AVTX-009。关键管理人员任命包括米蒂·道尔博士担任首席医疗官,保罗·瓦基担任首席法律官。营业费用增加了2530万,而其他收入的增加2170万主要归因于权证负债公允价值变动抵消了定向增发的损失。
Avalo Therapeutics 报告了2024年第二季度的财务结果,截至2024年6月30日,现金及现金等价物为9340万,预计能延续到2027年。该公司在2024年上半年录得净亏损2280万,同比增加470万,这主要是由于获得的知识产权与研发(IPR&D)费用达2760万,源于AlmataBio的收购。该公司宣布计划在2024年下半年启动AVTX-009的第二阶段LOTUS试验,这是针对腺样囊肿治疗的抗IL-1β单克隆抗体,IND于7月激活。此外,Avalo还计划在至少一个其他慢性炎症适应症中开发AVTX-009。关键管理人员任命包括米蒂·道尔博士担任首席医疗官,保罗·瓦基担任首席法律官。营业费用增加了2530万,而其他收入的增加2170万主要归因于权证负债公允价值变动抵消了定向增发的损失。
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