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Avalo Therapeutics | 10-Q: Q3 2024 Earnings Report

Avalo Therapeutics | 10-Q: Q3 2024 Earnings Report

Avalo Therapeutics | 10-Q:2024財年三季報
美股SEC公告 ·  2024/11/07 07:08

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Avalo Therapeutics reported Q3 2024 net income of $23 million, compared to a net loss of $5.2 million in Q3 2023. The positive result was primarily driven by a $36 million gain from changes in warrant liability fair value. Revenue remained minimal at $0.2 million following the planned expiration of the Millipred license agreement.Research and development expenses increased to $9.5 million from $1.2 million, mainly due to AVTX-009 LOTUS trial initiation activities and manufacturing preparations. General and administrative expenses rose to $4.3 million from $2.5 million, reflecting increased personnel costs and professional services related to the Almata transaction and March 2024 financing.As of September 30, 2024, Avalo had $81.9 million in cash and cash equivalents. The company received additional proceeds of $58.1 million from warrant exercises post-quarter end through November 6, 2024. Management expects current cash to fund operations into at least 2027, with focus on advancing AVTX-009 through clinical development including the recently initiated Phase 2 LOTUS trial in hidradenitis suppurativa.
Avalo Therapeutics reported Q3 2024 net income of $23 million, compared to a net loss of $5.2 million in Q3 2023. The positive result was primarily driven by a $36 million gain from changes in warrant liability fair value. Revenue remained minimal at $0.2 million following the planned expiration of the Millipred license agreement.Research and development expenses increased to $9.5 million from $1.2 million, mainly due to AVTX-009 LOTUS trial initiation activities and manufacturing preparations. General and administrative expenses rose to $4.3 million from $2.5 million, reflecting increased personnel costs and professional services related to the Almata transaction and March 2024 financing.As of September 30, 2024, Avalo had $81.9 million in cash and cash equivalents. The company received additional proceeds of $58.1 million from warrant exercises post-quarter end through November 6, 2024. Management expects current cash to fund operations into at least 2027, with focus on advancing AVTX-009 through clinical development including the recently initiated Phase 2 LOTUS trial in hidradenitis suppurativa.
Avalo Therapeutics 報告 2024 年第三季度凈利潤爲2300萬美元,較2023年第三季度的淨虧損520萬美元有所改善。積極的結果主要是由於期權負債公允價值變化帶來的3600萬美元收益。營業收入保持在20萬美元,因Millipred許可協議的計劃到期而維持在最低水平。研發費用從120萬美元增加至950萬美元,主要與AVTX-009 LOTUS試驗的啓動活動及製造準備有關。管理費用從250萬美元上升至430萬美元,反映了與Almata交易及2024年3月融資相關的人員成本和專業服務的增加。截至2024年9月30日,Avalo擁有8190萬美元的現金及現金等價物。公司在季度結束後的11月6日前通過期權行權獲得了5810萬美元的額外收入。管理層預計當前的現金將支持運營至少到2027年,重點是推動AVTX-009通過臨牀開發,包括最近啓動的在腺樣囊性囊腫中的2期LOTUS試驗。
Avalo Therapeutics 報告 2024 年第三季度凈利潤爲2300萬美元,較2023年第三季度的淨虧損520萬美元有所改善。積極的結果主要是由於期權負債公允價值變化帶來的3600萬美元收益。營業收入保持在20萬美元,因Millipred許可協議的計劃到期而維持在最低水平。研發費用從120萬美元增加至950萬美元,主要與AVTX-009 LOTUS試驗的啓動活動及製造準備有關。管理費用從250萬美元上升至430萬美元,反映了與Almata交易及2024年3月融資相關的人員成本和專業服務的增加。截至2024年9月30日,Avalo擁有8190萬美元的現金及現金等價物。公司在季度結束後的11月6日前通過期權行權獲得了5810萬美元的額外收入。管理層預計當前的現金將支持運營至少到2027年,重點是推動AVTX-009通過臨牀開發,包括最近啓動的在腺樣囊性囊腫中的2期LOTUS試驗。
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