Thu, Jul 11, 8:14 PM (58 days ago)
Avalo Therapeutics, Inc. filed an amendment to its Q1 2024 10-Q to correct typographical errors in executive certifications. The amendment did not update financial disclosures. For Q1 2024, Avalo reported a net loss of $121.3M, driven by a $79.3M loss from warrant liabilities exceeding private placement proceeds and $27.5M in acquired in-process R&D from the AlmataBio acquisition. The company closed a $115.6M private placement, with potential for an additional $69.4M from warrant exercises. Cash and equivalents were $110.2M as of March 31, 2024, expected to fund operations into 2027. Operating cash outflows were $6.2M. The company’s focus is on advancing its pipeline, particularly AVTX-009, and managing liquidity through potential equity sales and strategic transactions.