Why Is AVTX Stock Up 326% Today?
$Avalo Therapeutics(AVTX.US$ stock is rocketing higher on Thursday after announcing a couple of positive updates for investors in the clinical-stage biotechnology company.
The first big update worth noting is the company securing $185 million through a private placement. This funding comes from an agreement with institutional investors.
The private placement includes $115.6 million of non-voting convertible preferred stock and warrants worth another $69.4 million. Avalo Therapeutics expects net upfront proceeds of $105 million from this private placement.
The first big update worth noting is the company securing $185 million through a private placement. This funding comes from an agreement with institutional investors.
The private placement includes $115.6 million of non-voting convertible preferred stock and warrants worth another $69.4 million. Avalo Therapeutics expects net upfront proceeds of $105 million from this private placement.
AVTX Stock: AlmataBio Acquisition
Avalo Therapeutics is also up today after completing its acquisition of AlmataBio. The company did so to acquire AVTX-009, which is an anti-IL-1β mAb.
The exciting news about this is that AVTX-009 is already set for a Phase 2 clinical trial. Avalo Therapeutics is expecting topline results from this clinical trial in 2026.
Avalo Therapeutics notes that it expects its recent private placement to give it funding beyond this clinical trial. This should have the upfront payment last it through 2027.
AVTX stock is up 325.7% as of Thursday morning. This comes as some 1.2 million shares trade hands. The company’s daily average trading volume is about 92,000 shares.
Avalo Therapeutics is also up today after completing its acquisition of AlmataBio. The company did so to acquire AVTX-009, which is an anti-IL-1β mAb.
The exciting news about this is that AVTX-009 is already set for a Phase 2 clinical trial. Avalo Therapeutics is expecting topline results from this clinical trial in 2026.
Avalo Therapeutics notes that it expects its recent private placement to give it funding beyond this clinical trial. This should have the upfront payment last it through 2027.
AVTX stock is up 325.7% as of Thursday morning. This comes as some 1.2 million shares trade hands. The company’s daily average trading volume is about 92,000 shares.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
