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Avalo Therapeutics | 8-K: Avalo Reports Third Quarter 2024 Financial Results and Recent Business Updates

Avalo Therapeutics | 8-K: Avalo Reports Third Quarter 2024 Financial Results and Recent Business Updates

Avalo Therapeutics | 8-K:Avalo公布2024年第三季度财务业绩和近期业务更新
美股SEC公告 ·  11/07 20:03

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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.
2024年11月7日,临床阶段生物技术公司Avalo Therapeutics, Inc.报告了截至2024年9月30日的第三季度财务业绩。公司宣布在其第2期LOTUS试验中取得了重大进展,首位患者接受了面向汗腺炎治疗的单克隆抗体AVTX-009的投药,并预计到2026年完成上线数据。截至2024年9月30日,Avalo的现金余额约为8200万美元,得益于第四季度行使权证所得的5800万美元,至少延长财务可持续性至2027年。由于LOTUS试验的启动,研发费用增至950万美元,而一般和行政费用上升至430万美元,主要是由于员工薪酬和专业费用。公司本季度净利润为2300万美元,较2023年同期的520万美元净亏损显著改善,主要是由于权证负债公允价值变动。Avalo Therapeutics继续评估AVTX-009用于额外的免疫介导疾病,同时选择第二个适应症进行治疗。
2024年11月7日,临床阶段生物技术公司Avalo Therapeutics, Inc.报告了截至2024年9月30日的第三季度财务业绩。公司宣布在其第2期LOTUS试验中取得了重大进展,首位患者接受了面向汗腺炎治疗的单克隆抗体AVTX-009的投药,并预计到2026年完成上线数据。截至2024年9月30日,Avalo的现金余额约为8200万美元,得益于第四季度行使权证所得的5800万美元,至少延长财务可持续性至2027年。由于LOTUS试验的启动,研发费用增至950万美元,而一般和行政费用上升至430万美元,主要是由于员工薪酬和专业费用。公司本季度净利润为2300万美元,较2023年同期的520万美元净亏损显著改善,主要是由于权证负债公允价值变动。Avalo Therapeutics继续评估AVTX-009用于额外的免疫介导疾病,同时选择第二个适应症进行治疗。
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