Avalo Therapeutics Files $750M Mixed Securities Shelf

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.

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.