Avalo eliminates $35M debt, Q3 net loss $5.2M; cash $10.2M; divests 800 series for up to $45M

Avalo Therapeutics, Inc.

2023-Q3 EPS reported -$0.96 revenue$1,353,000

Paid off remaining $14.3M of $35M debt to Horizon Technology; all loan obligations satisfied.
Divested AVTX-800 series to AUG for up to $45M in milestone payments; pipeline focused on immunology.
Q3 2023 net loss $5.2M ($0.11 diluted loss) vs net income $3.2M a year ago; revenue fell to $236K from $14.9M.
Cash and cash equivalents $10.2M at Sept 30, 2023; raised $46.2M net from equity financings in 9 months.
Advancing quisovalimab (anti-LIGHT mAb) toward planned ulcerative colitis trial; AVTX-008 BTLA agonist progressing to IND.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

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

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

Exact text from the filing

On November 9, 2023, Avalo Therapeutics, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2023.

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-038030

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