Clinical TrialAug 6, 2026, 07:08 AM
Avalo Therapeutics Reports Positive Phase 2 Abdakibart Results
AI Summary
Avalo Therapeutics reported positive topline Phase 2 LOTUS results for abdakibart in hidradenitis suppurativa, meeting its primary endpoint with significant HiSCR75 response rates of 42.5% combined versus 25.6% for placebo. For the six months ended June 30, 2026, the company recorded a net loss of $56.0 million, or $(1.75) per share. Avalo also completed an equity offering, raising $405.0 million in net proceeds, boosting its cash and investments to $472.2 million as of June 30, 2026, providing sufficient funding for at least 12 months.
Key Highlights
- Positive topline Phase 2 LOTUS results for abdakibart in hidradenitis suppurativa.
- Abdabikart achieved 42.5% combined HiSCR75 response rate vs 25.6% for placebo.
- Net loss for six months ended June 30, 2026, was $(56.0) million.
- Diluted net loss per share for six months was $(1.75).
- Completed equity offering with net proceeds of $405.0 million.
- Cash, cash equivalents, and investments totaled $472.2 million as of June 30, 2026.
- Research and development expenses for six months increased to $37.5 million.
- General and administrative expenses for six months increased to $15.0 million.
Price Impact
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