Hector Avalos

Avalo Advances BTLA Agonist Fusion Protein (AVTX-008) to IND-enabling Stage

Retrieved on: 
Tuesday, September 6, 2022
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In June 2021, Avaloacquired rights to the BTLA fusion protein technology discovered by Dr. Carl Ware and colleagues at the Sanford Burnham Prebys in La Jolla, CA.

Key Points: 
  • In June 2021, Avaloacquired rights to the BTLA fusion protein technology discovered by Dr. Carl Ware and colleagues at the Sanford Burnham Prebys in La Jolla, CA.
  • Avalo is becoming a world-leader through our collaboration with Dr. Ware in this field with two high quality biologic drug candidates that address critical components of the LIGHT-signaling network.
  • AVTX-008 is a fully human B and T Lymphocyte Attenuator (BTLA) agonist fusion protein.
  • Avalo Therapeutics is a clinical stage biotechnology company focused on the treatment of immune dysregulation by developing therapies that target the LIGHT network.

Celldex Reports Second Quarter 2022 Financial Results and Provides Corporate Update

Retrieved on: 
Monday, August 8, 2022
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HAMPTON, N.J., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc. (NASDAQ:CLDX) today reported financial results for the second quarter ended June 30, 2022 and provided a corporate update.

Key Points: 
  • HAMPTON, N.J., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc. (NASDAQ:CLDX) today reported financial results for the second quarter ended June 30, 2022 and provided a corporate update.
  • Barzolvolimab is a humanized monoclonal antibody developed by Celldex that binds the KIT receptor with high specificity and potently inhibits its activity.
  • In June 2022, Cheryl L. Cohen and Dr. Garry Neil were appointed to the Celldex Board of Directors.
  • The decrease was primarily driven by second quarter cash used in operating activities of $22.2 million.

Avalo Therapeutics Transfers Anti-IL-18 Antibody, AVTX-007 (camoteskimab) to Apollo Therapeutics

Retrieved on: 
Monday, August 1, 2022
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and CAMBRIDGE, United Kingdom, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX) and Apollo Therapeutics Group Limited have entered into a worldwide, exclusive license agreement granting rights to Apollo to research, develop, manufacture and commercialize AVTX-007 (camoteskimab), Avalos anti-IL-18 monoclonal antibody product.

Key Points: 
  • and CAMBRIDGE, United Kingdom, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX) and Apollo Therapeutics Group Limited have entered into a worldwide, exclusive license agreement granting rights to Apollo to research, develop, manufacture and commercialize AVTX-007 (camoteskimab), Avalos anti-IL-18 monoclonal antibody product.
  • Under the terms of the agreement, Apollo will assume responsibility for the future development of AVTX-007, including the ongoing clinical trial.
  • Avalo Therapeutics is a leading clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical need in immunology and rare genetic diseases.
  • Apollo Therapeutics is a biopharmaceutical company, rapidly advancing a robust pipeline of potentially transformative therapeutic programs based on breakthrough discoveries.

Avalo Therapeutics Announces One-for-Twelve Reverse Stock Split

Retrieved on: 
Wednesday, July 6, 2022
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The reverse stock split will affect all stockholders uniformly and will not alter any stockholders percentage ownership interest in the Company, except to the extent that the reverse stock split results in any of the Companys stockholders owning a fractional share as described below.

Key Points: 
  • The reverse stock split will affect all stockholders uniformly and will not alter any stockholders percentage ownership interest in the Company, except to the extent that the reverse stock split results in any of the Companys stockholders owning a fractional share as described below.
  • The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 112,868,677 to approximately 9,405,724.
  • As of the effective date of the reverse stock split, the number of shares of common stock available for issuance under the Companys equity incentive plans and issuable upon the exercise of stock options and warrants outstanding immediately prior to the reverse stock split will be proportionately affected by the reverse stock split.
  • American Stock Transfer & Trust Company, LLC (AST) is acting as the exchange agent for the reverse stock split and will provide instructions to stockholders of record regarding the reverse stock split.

Avalo Therapeutics First Quarter 2022 Financial Results and Business Updates

Retrieved on: 
Thursday, May 5, 2022
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Disclosed cash and cash equivalents of $38 million as of March 31, 2022

Key Points: 
  • Disclosed cash and cash equivalents of $38 million as of March 31, 2022
    WAYNE, Pa. and ROCKVILLE, Md., May 05, 2022 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced business updates and first quarter 2022 financial results.
  • The first quarter has been highly productive for the Avalo Therapeutics team.
  • First Quarter 2022 Financial Update:
    As of March 31, 2022, Avalo had $38.5 million in cash and cash equivalents, representing a $16.1 million decrease as compared to December 31, 2021.
  • The Company expects salary related expenses to decrease beginning in the second quarter as a result of the headcount reductions.

Avalo Therapeutics, Inc. Announces Closing of a $31.5 Million Public Offering of Common Stock, Including Proceeds from Exercise of Option to Purchase Additional Shares

Retrieved on: 
Friday, September 17, 2021
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The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Avalo to 14,308,878 shares and increased the amount of gross proceeds raised in the offering, before underwriting discounts and estimated expenses of the offering payable by Avalo, to approximately $31.5 million.

Key Points: 
  • The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Avalo to 14,308,878 shares and increased the amount of gross proceeds raised in the offering, before underwriting discounts and estimated expenses of the offering payable by Avalo, to approximately $31.5 million.
  • Jefferies and RBC Capital Markets are acting as joint book-running managers for the offering.
  • The shares of common stock described above are being offered by Avalo pursuant to an effective shelf registration statement on Form S-3 (File No.
  • The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

Avalo Therapeutics, Inc. Announces Pricing of $27.5 Million Public Offering of Common Stock

Retrieved on: 
Wednesday, September 15, 2021
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The Company has also granted to the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock at the Public Offering Price to cover over-allotments in the sales of the shares of common stock, if any.

Key Points: 
  • The Company has also granted to the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock at the Public Offering Price to cover over-allotments in the sales of the shares of common stock, if any.
  • The gross proceeds to Avalo from this offering, before deducting underwriting discounts and commissions and estimated offering expenses and excluding any exercise of the underwriters option to purchase additional shares of common stock, are expected to be approximately $27.5 million.
  • Avalo intends to use the net proceeds of the offering for working capital and other general corporate purposes.
  • The shares of common stock described above are being offered by Avalo pursuant to an effective shelf registration statement on Form S-3 (File No.

Avalo Therapeutics, Inc. Announces Corporate Name Change from Cerecor Inc.

Retrieved on: 
Thursday, August 26, 2021
SRD5A3-CDG, Company, Hector Avalos, Private Securities Litigation Reform Act, Nasdaq, Birth, Therapy, U.S. Securities and Exchange Commission, Priority review, Orphan drug, GLOBE, Glycosylation, Microcystic lymphatic malformation, Security (finance), Biomarker, Ulcerative colitis, Food, Forward-looking statement, Probability, Patient, FDA, COVID-19, Lists of diseases, Drug development, Regulation of food and dietary supplements by the U.S. Food and Drug Administration, Vaccine, Pharmaceutical industry

In conjunction with the corporate name change, the Company will trade on the Nasdaq Capital Market under the new ticker symbol "AVTX".

Key Points: 
  • In conjunction with the corporate name change, the Company will trade on the Nasdaq Capital Market under the new ticker symbol "AVTX".
  • The new ticker will become effective at the open of the market on August 26, 2021.
  • As we enter this exciting period of our corporate journey, we look forward to the numerous data readouts in the second half the 2021.
  • For more information about Avalo Therapeutics, please visit www.avalotherapeutics.com
    This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995.