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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公佈2024年第三季度財務業績和近期業務更新
美股SEC公告 ·  2024/11/07 06:03

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Avalo Therapeutics announced significant progress in Q3 2024, with the first patient dosed in Phase 2 LOTUS trial of AVTX-009 for hidradenitis suppurativa (HS). The company reported a strong financial position with $81.9M cash as of September 30, plus an additional $58.1M from warrant exercises in Q4, extending runway into 2027.Q3 financial results showed R&D expenses increased to $9.5M from $1.2M YoY due to LOTUS trial costs, while G&A expenses rose to $4.3M from $2.5M. The company reported net income of $23M compared to a $5.2M loss in Q3 2023, primarily driven by a $37.4M increase in other income from warrant liability fair value changes.The Phase 2 LOTUS trial will evaluate AVTX-009, a monoclonal antibody targeting IL-1β, in approximately 180 adults with HS. The study will assess efficacy and safety of bi-weekly and monthly dosing regimens, with topline data expected in 2026. The company continues to explore AVTX-009's potential in additional immune-mediated diseases.
Avalo Therapeutics announced significant progress in Q3 2024, with the first patient dosed in Phase 2 LOTUS trial of AVTX-009 for hidradenitis suppurativa (HS). The company reported a strong financial position with $81.9M cash as of September 30, plus an additional $58.1M from warrant exercises in Q4, extending runway into 2027.Q3 financial results showed R&D expenses increased to $9.5M from $1.2M YoY due to LOTUS trial costs, while G&A expenses rose to $4.3M from $2.5M. The company reported net income of $23M compared to a $5.2M loss in Q3 2023, primarily driven by a $37.4M increase in other income from warrant liability fair value changes.The Phase 2 LOTUS trial will evaluate AVTX-009, a monoclonal antibody targeting IL-1β, in approximately 180 adults with HS. The study will assess efficacy and safety of bi-weekly and monthly dosing regimens, with topline data expected in 2026. The company continues to explore AVTX-009's potential in additional immune-mediated diseases.
Avalo Therapeutics在2024年第三季度取得了重大進展,第一位患者在AVTX-009治療化膿性汗腺炎(HS)的II期LOTUS試驗中接受了給藥。公司報告稱截至9月30日,現金狀況良好,達到了8190萬美元,並在第四季度通過認股權證行使額外獲得5810萬美元,資金延續至2027年。第三季度財務結果顯示,由於LOTUS試驗的費用,研發支出同比增加至950萬美元,而一般和行政支出則上升至430萬美元,去年爲250萬美元。公司報告的凈利潤爲2300萬美元,而在2023年第三季度則虧損520萬美元,主要是由於認股權證負債公允價值變動帶來的3740萬美元其他收入增加。II期LOTUS試驗將評估AVTX-009,這是一種針對IL-1β的單克隆抗體,計劃在約180名HS成人中進行。該研究將評估每兩週一次和每月一次的給藥方案的療效和安全性,預期於2026年獲得頂線數據。公司繼續探索AVTX-009在其他免疫介導疾病中的潛力。
Avalo Therapeutics在2024年第三季度取得了重大進展,第一位患者在AVTX-009治療化膿性汗腺炎(HS)的II期LOTUS試驗中接受了給藥。公司報告稱截至9月30日,現金狀況良好,達到了8190萬美元,並在第四季度通過認股權證行使額外獲得5810萬美元,資金延續至2027年。第三季度財務結果顯示,由於LOTUS試驗的費用,研發支出同比增加至950萬美元,而一般和行政支出則上升至430萬美元,去年爲250萬美元。公司報告的凈利潤爲2300萬美元,而在2023年第三季度則虧損520萬美元,主要是由於認股權證負債公允價值變動帶來的3740萬美元其他收入增加。II期LOTUS試驗將評估AVTX-009,這是一種針對IL-1β的單克隆抗體,計劃在約180名HS成人中進行。該研究將評估每兩週一次和每月一次的給藥方案的療效和安全性,預期於2026年獲得頂線數據。公司繼續探索AVTX-009在其他免疫介導疾病中的潛力。
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