Avalo Q1 net loss $121.3M driven by warrant fair value charge; cash $110M into 2027

Avalo Therapeutics, Inc.

2024-Q1 EPS reported -$141.00

Cash and cash equivalents $110.2M at March 31, 2024; expects runway through AVTX-009 Phase 2 data readout and into 2027.
Net loss $121.3M includes $79.3M loss from excess of warrant fair value over private placement proceeds and $27.5M acquired IPR&D expense.
Closed private placement for up to $185M gross; initial $115.6M received; warrants classified as liability with $194.9M fair value.
Topline results from planned Phase 2 trial of AVTX-009 in hidradenitis suppurativa expected in 2026; trial to start this year.
Strategic review underway for quisovalimab (AVTX-002) and AVTX-008 programs; no revenue in Q1 2024 vs $475K a year ago.

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 0.95

Avalo Therapeutics, Inc. reported first quarter of 2024 results: net income net loss of $121.3 million.

Period: first quarter of 2024
Net income: net loss of $121.3 million
Result: reported results

Exact text from the filing

For the three months ended March 31, 2024, Avalo generated a net loss of $121.3 million.

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Avalo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-022762

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