John Avalos

Avalo Reports Third Quarter 2023 Financial Results and Provides Business Updates

Retrieved on: 
Thursday, November 9, 2023
BTLA, Respiratory failure, Ares, Mortality, Research, Rover 800 series, John Avalos, Ulcerative colitis, COVID-19, Risk, AUG, Safety, Therapy, Patient, Mab, NEA, Pharmaceutical industry, Security (finance), Vaccine, IND, Hook effect

Additionally, we look forward to progressing AVTX-008, our BTLA agonist fusion protein with high-binding affinity and serum stability, to IND.

Key Points: 
  • Additionally, we look forward to progressing AVTX-008, our BTLA agonist fusion protein with high-binding affinity and serum stability, to IND.
  • The Company previously announced it entered into a purchase agreement with AUG to divest the 800 Series on September 12, 2023.
  • Third Quarter 2023 Financial Update:
    Avalo had $10.2 million in cash and cash equivalents as of September 30, 2023.
  • The Company raised $46.2 million of net proceeds from equity financings in the nine months ended September 30, 2023.

Avalo Completes Divestiture of AVTX-800 Series

Retrieved on: 
Tuesday, October 31, 2023
FDA, Sale, Food, MD, SRD5A3-CDG, Birth, PRV, Purchasing, Rover 800 series, John Avalos, Glycosylation, Asset purchase agreement, AUG, Therapy, Series, Patient, Sales management, Pharmaceutical industry

WAYNE, Pa. and ROCKVILLE, Md., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced it has completed the divestiture of its rights, title and interest in, assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) (collectively, the 800 Series) to AUG Therapeutics, LLC (AUG).

Key Points: 
  • WAYNE, Pa. and ROCKVILLE, Md., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced it has completed the divestiture of its rights, title and interest in, assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) (collectively, the 800 Series) to AUG Therapeutics, LLC (AUG).
  • The Company previously announced it entered into a purchase agreement with AUG to divest the 800 Series on September 12, 2023 (the Purchase Agreement).
  • Additionally, AUG assumed $150,000 of certain liabilities incurred prior to the date of the Purchase Agreement and assumed all costs relating to the 800 Series from the date of the Purchase Agreement.
  • “We are excited to announce that we have closed the transaction with AUG to divest our 800 Series programs for the treatment of congenital disorders of glycosylation (CDGs).

Avalo Therapeutics Successfully Eliminates $35 Million Debt Paving the Way for Future Growth and Innovation

Retrieved on: 
Tuesday, September 26, 2023
Professional, Biotechnology, John Avalos, Research, BTLA, Acquisition, MD, Patient, Mab, Growth, Therapy, Pharmaceutical industry

Dr. Garry A. Neil, MD, Chief Executive Officer, and Chairman of the Board at Avalo Therapeutics, expressed his enthusiasm about this crucial financial achievement, stating, "Eliminating our $35 million debt is a testament to the dedication and hard work of our entire team.

Key Points: 
  • Dr. Garry A. Neil, MD, Chief Executive Officer, and Chairman of the Board at Avalo Therapeutics, expressed his enthusiasm about this crucial financial achievement, stating, "Eliminating our $35 million debt is a testament to the dedication and hard work of our entire team.
  • With a strengthened balance sheet, the company is well-positioned to pursue collaborations, expand research efforts, and bring innovative treatments to market.
  • It addresses an increasingly recognized and important target for a variety of immune diseases as evidenced by Gilead’s $405 million acquisition of MiroBio.
  • We are proud of our role in helping promising emerging companies, like Avalo, achieve their financial goals and wish Avalo Therapeutics much future success.”

Avalo Enters into Agreement to Divest AVTX-800 Series

Retrieved on: 
Tuesday, September 12, 2023
Purchasing, PRV, John Avalos, Sale, Sales management, MD, Patient, Birth, Asset purchase agreement, SRD5A3-CDG, FDA, Therapy, Glycosylation, Rover 800 series, Food, Pharmaceutical industry, AUG

, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced it entered into a purchase agreement (the Purchase Agreement) with AUG Therapeutics, LLC (AUG) to sell its rights, title and interest in, assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) (collectively, the 800 Series).

Key Points: 
  • , Sept. 12, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced it entered into a purchase agreement (the Purchase Agreement) with AUG Therapeutics, LLC (AUG) to sell its rights, title and interest in, assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) (collectively, the 800 Series).
  • Additionally, AUG will assume up to $150,000 of certain liabilities incurred prior to the date of the Purchase Agreement and assume all costs relating to the 800 Series from the date of the Purchase Agreement.
  • The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions, including obtaining certain third-party consents.
  • “We are excited to announce the transfer of our 800 series programs for the treatment of congenital disorders of glycosylation (CDGs) to AUG.

Avalo Reports Second Quarter 2023 Financial Results and Provides Business Updates

Retrieved on: 
Thursday, August 3, 2023
Acceleration, Fucose, Asthma, CDG, Serum, IBD, John Avalos, COVID-19, Ares, PEAK, Birth, Research, Sale, Lung, BTLA, NEA, LAD, Patient, Mab, Mortality, ARE, Therapy, Glycosylation, Skin, Respiratory failure, Pharmaceutical industry, Commercial property, Vaccine, Cryptocurrency, IND

Avalo is considering out-licensing or sale of its non-core and potentially its core assets to increase focus and reduce future expenses.

Key Points: 
  • 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.

Avalo Reports First Quarter 2023 Financial Results and Provides Business Updates

Retrieved on: 
Thursday, May 4, 2023
COPD, Fucose, CDG, John Avalos, Decoy receptor 3, Birth, Research, Lung, Fas ligand, Net, BTLA, Phase 10, NEA, LAD, Patient, Mab, Asthma, Cytokine, Therapy, Glycosylation, IND, TL1A, Skin, Safety, Inflammation, Pharmaceutical industry, Vaccine

Disclosed cash of approximately $16.7 million as of March 31, 2023

Key Points: 
  • 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.

Avalo Reports Second Quarter 2022 Financial Results and Provides Business Updates

Retrieved on: 
Thursday, August 4, 2022
SRD5A3-CDG, Marketing, Loan, Compliance, NEA, Mab, Patient, Food, Company, Review, Treatment, Safety, FDA, Birth, Loan agreement, Research, LAD, Regulation of food and dietary supplements by the U.S. Food and Drug Administration, GLOBE, Efficacy, Net, Therapy, Glycosylation, AstraZeneca, Cryptocurrency, Pharmaceutical industry, John Avalos, Nasdaq, Crossover

Disclosed cash and cash equivalents of $11 million as of June 30, 2022, which does not include the approximate $15 million received in August

Key Points: 
  • Disclosed cash and cash equivalents of $11 million as of June 30, 2022, which does not include the approximate $15 million received in August
    WAYNE, Pa. and ROCKVILLE, Md., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced business updates and financial results for the second quarter of 2022.
  • In July 2022, Avalo granted an exclusive license to Apollo Therapeutics Group Limited (Apollo) granting rights to Apollo to research, develop, manufacture and commercialize AVTX-007.
  • Second Quarter 2022 Financial Update:
    Avalo had $11.2 million in cash and cash equivalents as of June 30, 2022, representing a $43.4 million decrease as compared to December 31, 2021.
  • Subsequent to June 30, 2022, Avalo received the approximate $15 million of upfront payment from its transfer of AVTX-007.