Avalo Therapeutics Reports First Quarter 2026 Financial Results and Recent Business Updates
Avalo Therapeutics reported positive topline results from the Phase 2 LOTUS trial of abdakibart in moderate to severe hidradenitis suppurativa (HS). The trial met its primary endpoint at both doses studied, with a 42.2% and 42.9% absolute improvement in HiSCR75 response rates at Week 16. Avalo completed a public offering of equity securities, raising gross proceeds of $431.3 million. The company's cash, cash equivalents, and short-term investments stood at $82.0 million as of March 31, 2026, not including the subsequent financing.
Key figures
- Eps Beat
- 0
- Revenue
- 0
- Drug Name
- abvakibart
- Revenue Yoy
- 0
- Deal Value Usd
- 431300000
- Phase Of Trial
- Phase 2
- Offering Price
- 0
- Shares Offered
- 0
- Net loss
- 19630000
- Short term investments
- 57005000
- Cash and cash equivalents
- 24988000
- Research and development expenses
- 14047000
- General and administrative expenses
- 6854000
- Weighted average common shares outstanding
- 20106925
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