Avalo Therapeutics Inc (AVTX)

Shares of Avalo Therapeutics Inc (AVTX) dropped by 11.53% from $0.198 to $0.175 in the trading on Friday, August 4, 2023. The reason why AVTX down is due to its lower-than-expected quarterly earnings report.

• Avalo Therapeutics reported a loss of $0.59 per share, surpassing the Zacks Consensus Estimate, which had predicted a loss of $0.90 per share. This earnings surprise amounted to 34.44%, indicating that the company performed better than expected in terms of profitability.
• However, the company's revenues for the quarter were $0.64 million, falling significantly short of the Zacks Consensus Estimate by 35.70%. Additionally, these revenues were lower compared to the $1.03 million generated in the same period the previous year.

Shares of Avalo Therapeutics Inc (AVTX) dropped by 88.69% from $4.420 to $0.500 in the trading on Monday, June 26, 2023. The reason why AVTX down is due to disappointing results of its AVTX-002 drug trial for non-eosinophilic asthma (NEA). The study failed to meet its primary endpoint of reduction in asthma-related events.

The mid-stage PEAK study evaluated the safety and efficacy of AVTX-002 for the treatment of poorly controlled NEA in 91 patients. The patients were divided into two cohorts, receiving either a 600 mg dose of AVTX-002 or placebo subcutaneously at days 0, 28, and 56. After 12 weeks of treatment, the efficacy and safety of AVTX-002 were evaluated in comparison with treatment with placebo through week 14. AVTX-002 showed a favorable safety and tolerability profile, but it did not meet the primary endpoint of the study.

Shares of Avalo Therapeutics Inc (AVTX) dropped by 7.80% from $2.820 to $2.600 in the trading on Friday, May 5, 2023. The reason why AVTX down is due to its disappointing Q1 results.

• Avalo Therapeutics reported a quarterly loss of $0.85 per share, which, surprisingly, was better than the Zacks Consensus Estimate of a loss of $0.97 per share. This resulted in an earnings surprise of 12.37%. However, despite this positive earnings surprise, investors seemed concerned about other aspects of the company's performance.
• In addition to the better-than-expected earnings, the company reported quarterly revenues of $0.48 million. While this might sound positive, it actually missed the Zacks Consensus Estimate by a significant margin, coming in 52.50% below expectations. This revenue miss likely contributed to the negative sentiment surrounding the stock.

Shares of Avalo Therapeutics Inc (AVTX) dropped by 10.28% from $3.890 to $3.490 in the trading on Monday, February 6, 2023. The reason why AVTX down is due to the company's announcement on Friday of a public offering involving 3,770,000 shares of its common stock and corresponding warrants. The offering was priced at $3.98 per share and warrant, with an exercise price of $5.00 per share for the warrants. The gross proceeds, before deductions, were expected to be around $15 million. SVB Securities and RBC Capital Markets were the joint bookrunning managers for the offering. The offering was conducted under a previously filed registration statement and was subject to customary closing conditions. This press release should not be considered as an offer to sell or a solicitation to buy securities. The specifics of the offering can be found in the related prospectus and prospectus supplement.