Avalo Therapeutics(US:AVTX)2025-05-12 11:01Financial Performance - Avalo Therapeutics reported a net loss of $13.1 million for Q1 2025, a significant decrease of $108.2 million from a net loss of $121.3 million in Q1 2024[6]. - Basic and diluted net loss per share was $1.25 for Q1 2025, compared to $141.14 for Q1 2024[6]. - Total operating expenses for Q1 2025 were $14.7 million, a decrease from $32.8 million in Q1 2024[8]. Cash and Assets - Cash and cash equivalents were approximately $125 million as of March 31, 2025, expected to fund operations into at least 2027, with potential extension into 2028[4]. - Current liabilities decreased to $5.6 million as of March 31, 2025, from $7.0 million at the end of 2024[7]. - Total assets decreased to $138.5 million as of March 31, 2025, down from $150.7 million at the end of 2024[7]. Research and Development - Research and development expenses increased to $9.1 million in Q1 2025, up from $2.1 million in Q1 2024, primarily due to costs associated with the Phase 2 LOTUS trial[5]. - The Phase 2 LOTUS trial for AVTX-009 is expected to deliver topline data in 2026, involving approximately 180 adults with hidradenitis suppurativa[4]. - The company is evaluating a second indication for AVTX-009 for additional immune-mediated diseases, with plans to announce this in the future[5]. General and Administrative Expenses - General and administrative expenses rose to $5.5 million in Q1 2025, an increase of $2.4 million from Q1 2024, mainly driven by stock-based compensation[5].