Avalo Therapeutics Stock Soars 287% on Anti-IL-1β MAb Acquisition-To The Moon - Tiger Brokers Online Investing Community - To The Moon

9
Comment
Favorite

Avalo Therapeutics Stock Soars 287% on Anti-IL-1β MAb Acquisition

Tiger Newspress03-28

Avalo Therapeutics (NASDAQ:AVTX) said on Wednesday it had acquired a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio.

Shares of AVTX soared 286.8% in morning trading Thursday.

Concurrent with the acquisition, AVTX entered into a definitive agreement for the sale of preferred stock and warrants in a private placement led by Commodore Capital and TCGX.

According to AVTX, the private placement will provide up to $185M in gross proceeds, including an initial gross upfront investment of $115.6M.

The private placement is expected to close on March 28, 2024, the company added.

The company said it plans to pursue the development of AVTX-009 in hidradenitis suppurativa.

AVTX added it intends to develop AVTX-009 in at least one other chronic inflammatory indication.

AVTX's acquisition of AlmataBio was structured as a stock-for-stock transaction whereby all outstanding equity interests in AlmataBio were exchanged in a merger for a combination of AVTX common stock and shares of Avalo non-voting convertible preferred stock, valued at ~$15M.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

9

Report

Comment

empty

No comments yet

Most Discussed

7x24

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1128411921?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-03-28 21:48","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1128411921","market":"us","top_or_hot":-1,"title":"Avalo Therapeutics Stock Soars 287% on Anti-IL-1β MAb Acquisition","media":"Tiger Newspress","content":"<html><head></head><body><p>Avalo Therapeutics (NASDAQ:AVTX) said on Wednesday it had acquired a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio.</p><p>Shares of AVTX soared 286.8% in morning trading Thursday.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/80db86f59315a458ce451b70863018c8\" tg-width=\"842\" tg-height=\"625\"/></p><p>Concurrent with the acquisition, AVTX entered into a definitive agreement for the sale of preferred stock and warrants in a private placement led by Commodore Capital and TCGX.</p><p>According to AVTX, the private placement will provide up to $185M in gross proceeds, including an initial gross upfront investment of $115.6M.</p><p>The private placement is expected to close on March 28, 2024, the company added.</p><p>The company said it plans to pursue the development of AVTX-009 in hidradenitis suppurativa.</p><p>AVTX added it intends to develop AVTX-009 in at least one other chronic inflammatory indication.</p><p>AVTX&#39;s acquisition of AlmataBio was structured as a stock-for-stock transaction whereby all outstanding equity interests in AlmataBio were exchanged in a merger for a combination of AVTX common stock and shares of Avalo non-voting convertible preferred stock, valued at ~$15M.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Avalo Therapeutics Stock Soars 287% on Anti-IL-1β MAb Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvalo Therapeutics Stock Soars 287% on Anti-IL-1β MAb Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n2024-03-28 21:48 北京时间&nbsp;&nbsp;&nbsp;<strong>Tiger Newspress</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Avalo Therapeutics (NASDAQ:AVTX) said on Wednesday it had acquired a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio.Shares of AVTX ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AVTX","symbol_name":"Avalo Therapeutics Inc.","start_time":0,"source_url":"","article_id":"1128411921","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1128411921","pubTimestamp":1711633680,"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"Avalo Therapeutics (NASDAQ:AVTX) said on Wednesday it had acquired a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio.Shares of AVTX so","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AVTX":"Avalo Therapeutics Inc."},"translate_title":"Avalo Therapeutics股票因收购抗IL-1 β单克隆抗体飙升287%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVTX":1.1},"content_text":"Avalo Therapeutics (NASDAQ:AVTX) said on Wednesday it had acquired a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio.Shares of AVTX soared 286.8% in morning trading Thursday.Concurrent with the acquisition, AVTX entered into a definitive agreement for the sale of preferred stock and warrants in a private placement led by Commodore Capital and TCGX.According to AVTX, the private placement will provide up to $185M in gross proceeds, including an initial gross upfront investment of $115.6M.The private placement is expected to close on March 28, 2024, the company added.The company said it plans to pursue the development of AVTX-009 in hidradenitis suppurativa.AVTX added it intends to develop AVTX-009 in at least one other chronic inflammatory indication.AVTX's acquisition of AlmataBio was structured as a stock-for-stock transaction whereby all outstanding equity interests in AlmataBio were exchanged in a merger for a combination of AVTX common stock and shares of Avalo non-voting convertible preferred stock, valued at ~$15M.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":9,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}