Avalo Therapeutics completes acquisition of AlmataBio; discloses audited financials and pro forma info

Avalo Therapeutics, Inc.

AlmataBio net loss of $659k from inception (April 28, 2023) to Dec 31, 2023; cash $1.8M, total assets $1.8M.
Acquired anti-IL-1β asset (AVTX-009) from Leap Therapeutics for $500k cash plus potential milestones up to $70M development/regulatory and $720M sales-based.
Deal closed March 27, 2024, structured as stock-for-stock: AlmataBio equity exchanged for Avalo common and non-voting convertible preferred stock.
Unaudited pro forma combined statements for year ended Dec 31, 2023 and Q1 2024 filed as Exhibit 99.2.

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