Avalo Reports Second Quarter 2023 Financial Results and Provides Business Updates
Avalo is considering out-licensing or sale of its non-core and potentially its core assets to increase focus and reduce future expenses.
- Avalo is considering out-licensing or sale of its non-core and potentially its core assets to increase focus and reduce future expenses.
- In July of 2023, Avalo entered into a non-binding letter of intent for the potential sale of AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose).
- Second Quarter 2023 Financial Update:
Avalo had $6.3 million in cash and cash equivalents as of June 30, 2023, representing a $6.9 million decrease compared to December 31, 2022. - The net loss and net loss per share for the three months ended June 30, 2023 was largely driven by operating expenses.