BTIG maintains Buy rating on Avalo Therapeutics, $10 price target

AbbVie's phase III data for lutikizumab in hidradenitis suppurativa caused Avalo Therapeutics' shares to fall 39% to $7.45 on Oct. 22. AbbVie's study showed positive results in 1,400 patients with moderate to severe HS.

Avalo Therapeutics (AVTX) is advancing its anti-IL-1 beta antibody, abdakibart, to phase III trials for hidradenitis suppurativa (HS) after positive phase II results. The company plans to expand indications in dermatology and rheumatology, develop a long-acting version, and secure financial support. The strategy includes differentiated dosing and device approaches.

Avalo Therapeutics (Nasdaq: AVTX) reported Q2 2026 net loss of $36.4 million, or $0.83 per share, with no reported product revenue. Operating expenses rose to $31.5 million. Cash, cash equivalents and investments were $472.2 million as of June 30, 2026, and an equity offering generated about $405.0 million net proceeds. Shares closed $18.70 on Aug. 6.

Avalo Therapeutics (Nasdaq: AVTX) reported Q2 2026 results and business updates. The company plans to start a registrational Phase 3 for abdakibart in hidradenitis suppurativa in H1 2027 and expects to submit an IND for AVTX-010 in H1 2027. Cash, cash equivalents and investments were $472.2M at June 30, 2026, funding operations into 2029. Q2 net loss was $36.4M.

Avalo Therapeutics, Inc. (AVTX) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Avalo Therapeutics Reports Second Quarter 2026 Financial Results and Recent Business Updates • Plans to initiate a registrational Phase 3 program evaluating abdakibart in hidradenitis suppurativa (HS) in the first half of 2027 • Expanded pipeline with AVTX-010, a lon

Google and Voltus have expanded their agreement to build a 1GW virtual power plant in the PJM grid region, up from 100MW. Voltus will aggregate energy capacity from local businesses and households, funded by Google. The project aims to improve grid reliability and provide economic benefits to participants. According to the companies, this is one of the largest distributed energy portfolios managed by a hyperscale company in the region.