Avalo Therapeutics announces common stock and warrants offering, no amount given

Avalo Therapeutics (AVTX) announced that it has commenced an underwritten public offering of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. All of the shares of common stock and pre-funded warrants to be sold in this offering are being offered by Avalo. Avalo intends to use the net proceeds from the offering, together with its existing cash, cash equivalents and short-term investments, to advance the clinical development of abdakibart, including through its Phase 3 topline data release, and for working capital and other general corporate purposes. Leerink Partners, TD Cowen and BofA Securities are acting as joint bookrunning managers for the offering.