Clinical TrialMay 13, 2026, 07:07 AM
Avalo Therapeutics' Abdakibart Phase 2 HS Trial Meets Primary Endpoint; Raises $431.3M
AI Summary
Avalo Therapeutics announced positive topline Phase 2 LOTUS trial results for abdakibart in moderate to severe hidradenitis suppurativa (HS), meeting its primary endpoint with significant HiSCR75 response rates. The company plans to advance abdakibart into a registrational Phase 3 program. Avalo also completed a public offering of equity securities, raising gross proceeds of $431.3 million, which is expected to fund operations into 2029. For Q1 2026, the company reported a net loss of $19.6 million and cash, cash equivalents, and short-term investments of $82.0 million as of March 31, 2026, prior to the recent financing.
Key Highlights
- Positive topline Phase 2 LOTUS trial results for abdakibart in HS, meeting primary endpoint.
- Abdakibart achieved 42.5% combined HiSCR75 response rate at Week 16 (placebo 25.6%).
- Completed public offering of equity securities for gross proceeds of $431.3 million.
- Cash, cash equivalents, and short-term investments were $82.0 million as of March 31, 2026.
- Net proceeds from the offering of approximately $405.0 million expected to fund operations into 2029.
- Q1 2026 net loss was $19.6 million, compared to $13.1 million in Q1 2025.
- Q1 2026 basic and diluted net loss per share was $0.98.
- R&D expenses increased by $4.9 million to $14.0 million in Q1 2026.