Brief: Avalo TherapeuticsEntered Non-Binding Loi For Potential Sale Of Avtx-801, Avtx-802 And Avtx-803

Avalo Therapeutics

21/07/2023 13:37

July 21 (Reuters) - Avalo Therapeutics Inc  AVTX.O :
    * AVALO THERAPEUTICS- ON JULY 20, ENTERED NON-BINDING LOI
FOR
POTENTIAL SALE OF AVTX-801 (D-GALACTOSE), AVTX-802 (D-MANNOSE)
AND AVTX-803 (L-FUCOSE)
    * AVALO THERAPEUTICS INC - PURSUANT TO LOI, CO WOULD SELL
800
SERIES FOR UPFRONT PAYMENT OF $150,000
    * AVALO THERAPEUTICS INC - COMPANY HAD ABOUT $4.5 MILLION IN
CASH
AND CASH EQUIVALENTS AS OF JULY 20, 2023, BASED ON PRELIM
ESTIMATES
    * AVALO THERAPEUTICS- PURSUANT TO LOI, CO TO SELL 800 SERIES
IN
EXCHANGE FOR CONTINGENT MILESTONE PAYMENTS OF UP TO $45 MILLION
UPON CERTAIN FDA APPROVALS


Further company coverage:  AVTX.O 

 ((Reuters.Briefs@thomsonreuters.com;))