Core Insights - Avalo Therapeutics has successfully raised a total of 69.4 million coming from the full exercise of warrants issued in March 2024 [1][2] - The company is focused on advancing its Phase 2 LOTUS trial for AVTX-009, an anti-IL-1β monoclonal antibody, while also exploring additional inflammatory indications [2][4] Financial Overview - The gross proceeds from the warrant exercise amount to 5.796933 per share [2] - The total gross proceeds from the private placement transaction now stand at $185 million, ensuring a cash runway expected to last until at least 2027 [1][2] Company Profile - Avalo Therapeutics is a clinical-stage biotechnology company specializing in treatments for immune dysregulation, with its lead asset being AVTX-009 [3] - The company also has two additional drug candidates: quisovalimab and AVTX-008 [3] Product Information - AVTX-009 is a humanized monoclonal antibody targeting interleukin-1β (IL-1β), which plays a significant role in inflammatory diseases [4] - The drug is being evaluated for its efficacy in treating hidradenitis suppurativa and other inflammatory conditions [4][6] Clinical Trial Details - The LOTUS Trial is a Phase 2, randomized, double-blind, placebo-controlled study involving approximately 180 adults with moderate to severe hidradenitis suppurativa [5] - The primary endpoint is the proportion of subjects achieving a specific clinical response at Week 16, with various secondary objectives related to disease severity and patient-reported outcomes [5]
Avalo Therapeutics Receives $69.4 Million in Proceeds from the Full Exercise of Private Placement Warrants