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WAYNE, Pa. and ROCKVILLE, Md., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX) announced today that Garry A. Neil, M.D., Chief Executive Officer and Chairman of the Board, will present at two upcoming investor conferences:
H.C. Wainwright 26th Annual Global Investment ConferenceDates: September 9-11, 2024A pre-recorded presentation will be made available on Monday, September 9, 2024 at 7:00 AM ET.
Stifel 2024 Virtual Immunology and Inflammation SummitFireside Chat Date: Tuesday, September 17, 2024Fireside Chat Time: 9:30 AM ET
Webcasts of the pre-recorded presentation from the H.C. Wainwright Conference and the fireside chat from the Stifel Immunology and Inflammation Summit can be accessed under the “News/Events” page in the Investors section of the Company's website at www.avalotx.com.
About Avalo Therapeutics
Avalo Therapeutics is a clinical stage biotechnology company focused on the treatment of immune dysregulation. Avalo’s lead asset is AVTX-009, an anti-IL-1β mAb, targeting inflammatory diseases. Avalo also has two additional drug candidates, which include quisovalimab (anti-LIGHT mAb) and AVTX-008 (BTLA agonist fusion protein). For more information about Avalo, please visit www.avalotx.com.
About AVTX-009
AVTX-009 is a humanized monoclonal antibody (IgG4) that binds to interleukin-1β (IL-1β) with high affinity and neutralizes its activity. IL-1β is a central driver in the inflammatory process. Overproduction or dysregulation of IL-1β is implicated in many autoimmune and inflammatory diseases. IL-1β is a major, validated target for therapeutic intervention. There is evidence that inhibition of IL-1β could be effective in Hidradenitis Suppurativa and a variety of inflammatory diseases in dermatology, gastroenterology, and rheumatology.
Forward-Looking Statements
This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Avalo’s control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Avalo’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “might,” “will,” “could,” “would,” “should,” “continue,” “seeks,” “aims,” “predicts,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential,” or similar expressions (including their use in the negative), or by discussions of future matters such as: drug development costs, timing of trials and trial results and other risks, including reliance on investigators and enrollment of patients in clinical trials; reliance on key personnel; regulatory risks; integration of AVTX-009 into our operations; general economic and market risks and uncertainties, including those caused by the war in Ukraine and the Middle East; and those other risks detailed in Avalo’s filings with the Securities and Exchange Commission, available at www.sec.gov. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Avalo expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Avalo’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For media and investor inquiries
Christopher Sullivan, CFO Avalo Therapeutics, Inc. ir@avalotx.com410-803-6793
or
Chris BrinzeyICR WestwickeChris.brinzey@westwicke.com339-970-2843
Avalo Therapeutics just reported results for the second quarter of 2024.
InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.
More from InvestorPlace
Avalo Therapeutics Inc AVTX.OQ reported a quarterly adjusted loss of $14.07 per share for the quarter ended in June, higher than the same quarter last year, when the company reported EPS of $-141.60. The lone analyst forecast for the quarter was for a loss of $6.70 per share.
Reported revenue was zero; analysts expected zero.
Avalo Therapeutics Inc's reported EPS for the quarter was $4.21.
The company reported quarterly net income of $98.46 million.
Avalo Therapeutics Inc shares had fallen by 14.4% this quarter and gained 17.4% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had fallen by about 3,426.3% in the last three months.
In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.
RECOMMENDATIONS
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell."
The average consensus recommendation for the biotechnology & medical research peer group is also "hold"
Wall Street's median 12-month price target for Avalo Therapeutics Inc is $35.00
This summary was machine generated from LSEG data August 12 at 02:30 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)
QUARTER ENDING | ESTIMATE | ACTUAL | BEAT, MET, MISSED |
Jun. 30 2024 | -6.70 | -14.07 | Missed |
Mar. 31 2024 | -1.18 | -1.41 hundred | Missed |
Dec. 31 2023 | -4.80 | -1.16 hundred | Missed |
Sep. 30 2023 | -2.64 hundred | -26.40 | Beat |
Keywords: AVALO-RESULTS/SUMMARY
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