Avalo Therapeutics’ Newly Acquired Ex-Eli Lilly Drug Could Stand Out In Competitive Hidradenitis Suppurativa Market, Analyst Upgrades
Tuesday, Oppenheimer upgraded Avalo Therapeutics Inc (NASDAQ:AVTX), noting that its AVTX-009 is a promising drug candidate and looks forward to a Phase 2 topline data in 2026 in hidradenitis suppurativa (HS) and additional updates.
In March, Avalo Therapeutics announced the acquisition of a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, originally developed by Eli Lilly And Co (NYSE:LLY).
Avalo announced a private placement of $185 million in gross proceeds, including an initial gross upfront investment of $115.6 million.
Oppenheimer says that the company is preparing to advance ‘009 for Phase 2 development in hidradenitis suppurativa (HS), showing confidence in its potential. While topline data won’t be available until 2026, there’s consideration to also …
Full story available on Benzinga.com