Avalo Therapeutics falls as asthma therapy fails to meet goal in mid-stage study

Avalo Therapeutics

26/06/2023 16:05

(Updates)
    ** Shares of therapy developer Avalo Therapeutics Inc
 AVTX.O  fall 85.5% to a record low of 64 cents
    ** Biggest one-day pct loss ever
    ** 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 at the mid-stage study, was
designed to evaluate the safety and efficacy of AVTX-002 for the
treatment of poorly controlled non-eosinophilic asthma, which
doesn't respond well to standard asthma treatments
    ** Stock down ~87% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))