AVTX Stock — Avalo Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical stage biotechnology company fully dedicated to developing IL-1β-based treatments for immune-mediated inflammatory diseases. Our lead product candidate, abdakibart (AVTX-009), an anti-IL-1β monoclonal antibody (“mAb”) is in a Phase 2 clinical trial for hidradenitis suppurativa (“HS”).

Source: 10-K FY2025 via SEC EDGAR

Share price

$8.36

Market cap

$483.3M

Cash

$393.0M

Enterprise value

$90.3M

Balance sheet

Cash	$393.0M
Debt	$0.0M
Net cash	$393.0M
Enterprise value	$90.3M
Basic shares	57.8M shares
Fully diluted shares	74.4M shares
Fully diluted market cap	$622.0M
Cash per share	$6.80
Quarterly burn	$20.0M
Cash runway	19.7 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-10.

Share structure

Common

57.8M

Pre-funded warrants

1.4M

Options

5.5M

RSUs

0.5M

Warrants

0.0M

Converts

0.0M

Conv preferred

8.4M

ESPP reserve

0.9M

FDSO

74.4M

Cap table as of 2026-11-02.

Price history

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Next catalyst

AVTX-010 · Est. Apr 1, 2027 · half midpoint · guided in 7 wks

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Apr 1, 2027 in 7 wks half midpoint	AVTX-010 IND application submission	Not disclosed	application	H1 2027
GUIDEDEst. Apr 1, 2027 in 7 wks half midpoint	abdakibart Registrational Phase 3 program in hidradenitis suppurativa, initiation	Phase 3	hidradenitis suppurativa	H1 2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Abdakibart

Phase 2 · Active Modality: monoclonal antibody (humanized IgG)

Aliases AVTX-009

Target IL-1β

Partnerships Eli Lilly: worldwide exclusive license (via AlmataBio/Leap): up to $70M development/regulatory milestones (incl. $10M Phase 3 first-patient milestone deemed probable at 6/30/26), up to $650M sales milestones, royalties 5-15%; AlmataBio acquisition milestone obligations bought out Q2 2026

Indications

hidradenitis suppurativa (moderate to severe) (Phase 2)

Status note Lead anti-IL-1β mAb. Phase 2 LOTUS trial (NCT06603077) in moderate-to-severe HS completed, topline reported Q2 2026; advancing into registrational Phase 3 program. Company is pursuing additional IL-1β-driven indications (none named).

AVTX-010

Stage not disclosed · Active Modality: monoclonal antibody (long-acting next-generation)

Target IL-1β

Indications

not disclosed (Stage not disclosed)

Status note Long-acting next-generation anti-IL-1β mAb; CMC/manufacturing preparation underway. No trial stage stated.

AVTX-008

Stage not disclosed · Active Modality: fusion protein

Target BTLA (B and T Lymphocyte Attenuator)

Indications

not disclosed (Stage not disclosed)

Status note Fully human B and T Lymphocyte Attenuator agonist fusion protein; no trial stage or indication stated in excerpts.

AVTX-913

Preclinical · Active Modality: nucleotide prodrug

Indications

mitochondrial disorder (Preclinical)

Status note Preclinical asset for treatment of a mitochondrial disorder; no target or indication detail stated.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Avoro Capital Advisors	2,333,333	+923,333	0.39%	2026-08-14
BVF Partners	2,075,545	+442,700	0.98%	2026-08-14
Braidwell LP	1,629,182	+1,629,182	1.11%	2026-08-14
Logos Global Management	1,150,000	+850,000	0.91%	2026-08-14
RA Capital Management	1,000,000	+337,032	0.16%	2026-08-14
Baker Bros. Advisors	550,000	+550,000	0.05%	2026-08-14
Boxer Capital	375,000	+75,000	0.52%	2026-08-14
Vivo Capital	275,000	+275,000	0.46%	2026-08-14
Sphera Biotech	232,294	+232,294	0.61%	2026-08-14
Perceptive Advisors	219,813	+80,146	0.06%	2026-08-14
RTW Investments	175,000	-681,962	0.03%	2026-08-14
Ally Bridge Group	150,000	+150,000	3.57%	2026-08-14
Ikarian Capital	90,183	+90,183	0.27%	2026-08-14
OrbiMed Advisors	0	-475,165	0.00%	2026-08-14
Great Point Partners	0	-124,666	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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AVTX — Avalo Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

AVTX — Avalo Therapeutics Inc.