Avalo Q2 2023: AVTX-002 misses Phase 2 asthma endpoint; cash $6.3M, debt forbearance

Avalo Therapeutics, Inc.

2023-Q2 EPS reported -$1.41 revenue$1,117,000

AVTX-002 did not meet primary endpoint (asthma-related events) in Phase 2 PEAK non-eosinophilic asthma trial.
Net loss of $8.2M for Q2 2023; product revenue of $643K.
Cash $6.3M at June 30, 2023, down from $13.2M at Dec 31, 2022; $6M loan prepaid in June.
Forbearance agreement with lenders until Aug 15, 2023 due to material adverse change event of default.
Exploring sale or out-licensing of assets; non-binding LOI for AVTX-801/802/803.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Avalo Therapeutics, Inc. reported financial results for the quarter ended June 30, 2023.

Period: the quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 3, 2023, Avalo Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2023.

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-026988

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