Avalo Announces First Patient Dosed in Phase 2 LOTUS Trial of AVTX-009 for the Treatment of Hidradenitis Suppurativa
Clinical Trial Announcement: Avalo Therapeutics has initiated a Phase 2 trial (LOTUS) for AVTX-009, a monoclonal antibody targeting interleukin-1β, in approximately 180 adults with hidradenitis suppurativa, with topline results expected in 2026.
Hidradenitis Suppurativa Overview: Hidradenitis suppurativa is a chronic inflammatory skin condition that significantly affects quality of life, and current treatment options are limited, highlighting the need for effective therapies like AVTX-009.
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Valvoline Analyst Starts Coverage Optimistically; Check Out Thursday's Top 5 Initiations
Analyst Coverage Initiations: Mizuho initiated coverage on Avalo Therapeutics with an Outperform rating and a price target of $39, while Raymond James gave Lexeo Therapeutics a Strong Buy rating with a target of $25.
Valvoline and Serve Robotics Ratings: Roth Capital initiated coverage on Valvoline with a Buy rating and a price target of $42, and Oppenheimer rated Serve Robotics as Outperform with a target of $20.
Sotera Health Coverage: William Blair initiated coverage on Sotera Health with an Outperform rating, although no price target was specified.
Current Stock Prices: As of Wednesday, Avalo Therapeutics closed at $19.25, Lexeo Therapeutics at $9.11, Valvoline at $30.05, Serve Robotics at $9.55, and Sotera Health at $16.81.
Avalo Therapeutics Reveals Inducement Grants for New Hires in Accordance with Nasdaq Listing Rule 5635(c)(4)
Inducement Equity Awards: Avalo Therapeutics granted inducement equity awards in the form of nonstatutory stock options to three new employees, totaling 114,000 shares, as part of their employment agreements.
Vesting Schedule: The stock options will vest over four years, with 25% vesting on the one-year anniversary of each employee's start date, followed by monthly vesting of the remaining shares.
Company Focus: Avalo Therapeutics is dedicated to developing IL-1β-based treatments for immune-mediated inflammatory diseases, with its lead asset, AVTX-009, currently in a Phase 2 clinical trial for hidradenitis suppurativa.
Forward-Looking Statements: The press release includes forward-looking statements that are subject to risks and uncertainties, which may affect the actual results compared to the company's projections and expectations.
