Avalo Posts $36.4M Q2 Loss, Cash at $472M; Phase 3 for Abdakibart in HS Set for H1 2027
AVTX has more than doubled off its 52-week low of $7.87 on light trading volume (0.4× avg).
Summary
Avalo reported Q2 2026 results with a net loss of $36.4 million, up from $20.8 million a year ago, driven by a $10 million milestone payment for abdakibart and higher R&D spending. Cash and investments stood at $472.2 million as of June 30, 2026, which the company says funds operations into 2029. The company plans to start a registrational Phase 3 trial for abdakibart in hidradenitis suppurativa (HS) in the first half of 2027, following positive Phase 2 LOTUS data. It also expects to file an IND for AVTX-010, a next-generation anti-IL-1β antibody, in the same timeframe. The appointment of Ron Philip to the board adds commercial expertise as the pipeline advances. Inclusion in the Russell indexes may increase institutional visibility. The cash position remains strong, but the rising loss and share count dilution from prior financings are notable.
At the time of this announcement, AVTX was trading at $18.69 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $996.7M. The 52-week trading range was $7.87 to $24.27. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.