Avalo Therapeutics Q2 net loss widens, driven by higher R&D expenses
Avalo Therapeutics Q2 net loss widens, driven by higher R&D expenses
Overview
US biotech developer's Q2 net loss widens, driven by higher R&D expenses
Cash and investments of $472.2 mln expected to fund operations into 2029
Outlook
Avalo expects current cash to fund operations into 2029
Result Drivers
R&D SPENDING - Higher research and development expenses were driven by a $10 mln development milestone for abdakibart and costs supporting its development in HS
ADMINISTRATIVE COSTS - General and administrative expenses increased due to stock-based compensation
Company press release: ID:nGNX43F6cW
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss | Miss | $36.36 mln | $20.82 mln (11 Analysts) |
Q2 Pretax Loss | Miss | $36.34 mln | $20.81 mln (9 Analysts) |
Q2 Operating Expenses |
| $31.52 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 15 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Avalo Therapeutics Inc is $43.50, about 130.9% above its August 5 closing price of $18.84
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)