Avalo Therapeutics Inc 2026年季度报告

FORM 10-Q ☑QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF1934for the quarterly period ended March31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF1934 COMMISSION FILE NUMBER: 001-37590 AVALO THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) 45-0705648(I.R.S. Employer Identification No.)(410)522-8707(Registrant’s telephone number,including area code) Delaware(State of incorporation)1500 Liberty Ridge Drive, Suite 321Wayne, Pennsylvania 19087(Address of principal executive offices) Securities registered pursuant to Section 12(b) of the Act: AVTX Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b‑2 of the Exchange Act. Accelerated filer☐Smaller reporting company☑ Large accelerated filer☐Non-accelerated filer☑Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b‑2 of the Exchange Act).Yes☐No☑ As of May8, 2026, the registrant had 52,565,572 shares of common stock outstanding. AVALO THERAPEUTICS, INC. FORM 10-Q For the Quarter Ended March31, 2026 TABLE OF CONTENTS Item 1.Financial Statementsa)Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December31, 20253b)Condensed Consolidated Statements of Operations and Comprehensive Loss(Unaudited)for the Three Months Ended March 31, 2026 and 20254c)Condensed Consolidated Statements of Mezzanine and Stockholders’ Equity (Unaudited)for the Three Months Ended March 31, 2026 and 20255d)Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three MonthsEnded March 31, 2026 and 20256e)Notes to Unaudited Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations27Item 3.Quantitative and Qualitative Disclosures About Market Risk34Item 4.Controls and Procedures34PART II.OTHER INFORMATIONItem 1.Legal Proceedings35Item 1A.Risk Factors35Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of EquitySecurities35Item 3.Defaults Upon Senior Securities35Item 4.Mine Safety Disclosures35Item 5.Other Information35Item 6.Exhibits36SIGNATURES37 PART I - FINANCIAL INFORMATION AVALO THERAPEUTICS, INC. and SUBSIDIARIESCondensed Consolidated Balance Sheets(In thousands, except share and per share data) AVALO THERAPEUTICS,INC. and SUBSIDIARIESCondensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)(In thousands, except per share data) Three Months EndedMarch 31, AVALO THERAPEUTICS,INC. and SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited)(Amounts in thousands) Investing activities The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidatedbalance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows (inthousands): See accompanying notes to the unaudited condensed consolidated financial statements. AVALO THERAPEUTICS,INC. and SUBSIDIARIESNotes to Unaudited Condensed Consolidated Financial Statements 1. Business Avalo Therapeutics, Inc. (the “Company” or “Avalo” or “we”) is a clinical stage biotechnology company fully dedicated to developingIL-1β-based treatments for immune-mediated inflammatory diseases. Our lead asset, abdakibart (AVTX-009), is an anti-IL-1βmonoclonal antibody (“mAb”). Positive topline data was recently reported for abdakibart in a Phase 2 clinical trial in hidradenitissuppurativa (“HS”). We’re also exploring additional opportunities to make an impact in prevalent indications that have significantremaining unmet needs. Avalo was incorporated in Delaware and commenced operation in 2011, and completed its i