Avalo Therapeutics(US:AVTX)2025-08-07 11:02Financial Performance - Cash and short-term investments were approximately $113 million as of June 30, 2025, expected to fund operations into 2028[3] - Net loss for Q2 2025 was $20.8 million, compared to net income of $98.5 million in Q2 2024, reflecting a significant change in other expenses[4] - Basic and diluted net loss per share for Q2 2025 was $1.92, compared to basic net income per share of $4.21 in Q2 2024[4] - Total operating expenses for Q2 2025 were $19.3 million, compared to $9.6 million in Q2 2024[8] - Total assets as of June 30, 2025, were $126.6 million, down from $150.7 million as of December 31, 2024[6] Research and Development - Research and development expenses for Q2 2025 were $14.1 million, an increase of 74% from $4.6 million in Q2 2024[4] - The Phase 2 LOTUS trial has enrolled over 75% of the planned patients, with top-line data expected in mid-2026[2] - The LOTUS trial will evaluate the efficacy and safety of AVTX-009 in approximately 222 adults with hidradenitis suppurativa[4] Administrative Expenses - General and administrative expenses for Q2 2025 were $5.2 million, up from $4.5 million in Q2 2024, primarily due to stock-based compensation[4] - The company appointed Rita Jain, M.D. to the Board of Directors, bringing extensive experience in clinical development and regulatory strategy[4] Risks and Uncertainties - Avalo Therapeutics faces risks related to reliance on key personnel and regulatory uncertainties, including impacts from geopolitical events like the war in Ukraine and the Middle East[15] - Actual results may differ from forward-looking statements due to various market risks and uncertainties[15]