Avalo Reports First Quarter 2023 Financial Results and Provides Business Updates
Disclosed cash of approximately $16.7 million as of March 31, 2023
- Disclosed cash of approximately $16.7 million as of March 31, 2023
WAYNE, Pa. and ROCKVILLE, Md., May 04, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced business updates and financial results for the first quarter of 2023. - NEA: Avalo has completed enrollment of the Phase 2 PEAK trial evaluating the safety and efficacy of AVTX-002 in 91 patients with NEA.
- First Quarter 2023 Financial Update:
Avalo had $16.7 million in cash and cash equivalents as of March 31, 2023, representing a $3.5 million increase compared to December 31, 2022. - The net loss and net loss per share for the three months ended March 31, 2023 was largely driven by operating expenses.