Micro-Cap Avalo Therapeutics Stock Rallies As It Snaps AlmataBio For Ex-Eli Lilly Drug For Skin Disorder [Yahoo! Finance]
Eli Lilly and Company (LLY)
Last eli lilly and company earnings: 4/23 06:25 am
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Source: Yahoo! Finance
mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio Inc Avalo announced a private placement of $185 million in gross proceeds, including an initial gross upfront investment of $115.6 million Avalo intends to pursue the development of AVTX-009 in hidradenitis suppurativa (HS). Topline results from a planned Phase 2 trial in HS are expected in 2026 and the upfront funding is expected to fund operations into 2027. In addition to HS, Avalo intends to develop AVTX-009 in at least one other chronic inflammatory indication. “We believe AVTX-009, which was originally developed by Eli Lilly, has a high probability of success for the treatment of HS as evidenced by recent data readouts validating inhibition of IL-1ß in this disease. We believe that HS is a multi-billion-dollar commercial opportunity and that AVTX-009 has the potential to be best-in-class and best-in-indication because of its target, half-life, and potency, which may allow for stron
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LLY
Earnings
- 2/6/24 - Miss
LLY
Sec Filings
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- LLY's page on the SEC website