Avalo reports Q3 2026 results, plans Phase 3 start for abdakibart in HS in H1 2027

Avalo Therapeutics reported financial results for the third quarter of 2026 on November 5, 2026, along with updates on its two lead programs. The company said it continued preparations for a registrational Phase 3 program in hidradenitis suppurativa (HS) for abdakibart (AVTX-009), and expects feedback from the FDA on its proposed development plan by year-end 2026, with plans to initiate the Phase 3 program in the first half of 2027.¹

For its second program, Avalo continued development of AVTX-010, a next-generation, Fc-engineered, long-acting anti-IL-1β monoclonal antibody, with an IND submission anticipated in the first half of 2027. AVTX-010 is being developed for potential use in HS and other inflammatory diseases.¹

Avalo also presented a late-breaking oral presentation and poster on Phase 2 LOTUS data at the 2026 European Academy of Dermatology and Venereology (EADV) Congress.¹ Chief Executive Officer Garry Neil said LOTUS provides a strong clinical foundation for advancing abdakibart toward registrational development in hidradenitis suppurativa.¹

On finances, Avalo reported cash, cash equivalents and investments of $462.8 million as of September 30, 2026, which it said are expected to fund operations into 2029.¹ The company used $49.2 million in cash for operating activities during the nine months ended September 30, 2026.¹

Net loss for the quarter was $18.9 million, a decrease of $11.7 million from the third quarter of 2025.¹ Basic and diluted net loss per share was $0.34 for the third quarter of 2026, compared with $2.19 a year earlier, based on weighted average shares outstanding of 55,060,404 and 14,000,451, respectively.¹