Avalo Therapeutics reports net loss of $22.8M in H1 2024; cash $93.4M; AVTX-009 Phase 2 enrollment on track for H2

Avalo Therapeutics, Inc.

2024-Q2 EPS reported -$30.63

Cash and cash equivalents $93.4M as of June 30, 2024; expected cash runway into 2027.
Net loss for six months ended June 30, 2024 was $22.8M, compared to $18.1M in same period 2023.
AVTX-009 IND for hidradenitis suppurativa active; Phase 2 LOTUS Trial first patient enrollment expected H2 2024.
Appointed Dr. Mittie Doyle as CMO and Paul Varki as CLO; Q2 2024 net income of $98.5M from warrant liability fair value change.

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