Avalo Therapeutics falls as asthma therapy fails to meet goal in mid-stage study
26/06/2023 13:11
** Shares of therapy developer Avalo Therapeutics Inc
AVTX.O fall 89.14% to $0.49 premarket
** Stock top pct. loser across U.S. exchanges
** Company says its experimental therapy AVTX-002 did not
meet the main goal measured by reduction in asthma-related
events compared to placebo
** The therapy, which was in mid-stage study, was designed
to evaluate the safety and efficacy of AVTX-002 for the
treatment of poorly controlled non-eosinophilic asthma
** Non-eosinophilic asthma is known to poorly respond to
standard asthma treatments
** Up to last close, stock down ~12% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))