Avalo Therapeutics reports Q1 EPS ($1.25) vs. ($141.14) last year

“We have made considerable progress in our Phase 2 LOTUS trial in hidradenitis suppurativa with site activations, screenings and enrollment progress all in line with our original projections as we have begun to meaningfully climb the enrollment curve. As such, we believe we are on track to deliver topline data in 2026 and look forward to demonstrating AVTX-009’s potential as a leading treatment in HS,” said Dr. Garry Neil, Chief Executive Officer. “We are cognizant of current market conditions and are fortunate to have more than sufficient capital to reach our LOTUS trial data readout. Given the current environment, the Company is carefully evaluating the optimal timing for pursuing additional development activities beyond the LOTUS trial, such as the initiation of a second indication, to preserve capital until markets stabilize. Changes to the timing of implementing these secondary development activities could extend cash runway into 2028.”