Avalo Therapeutics, Inc.

avalotx.com

What Do They Do?

Develops antibody drug candidates for patients with immune-mediated inflammatory diseases, including hidradenitis suppurativa.

How Do They Make Money?

Historically, Avalo sold Millipred prescription drugs through wholesale distributors, with each sale counted when the customer received the product; the license and supply agreement has ended.

FY2025 revenue

Who Are Their Customers?

Historically, Avalo sold Millipred in the United States primarily through wholesale distributors.

Do Revenues Turn Into Profits?

No. It lost $78.3M in FY2025.

Operating income, FY2025

−123602% of revenue

▲ +6% (Loss) vs FY2024 (−$68.5M, −15536%)

Net income, FY2025

−132642% of revenue

▲ +123% (Loss) vs FY2024 (−$35.1M, −7966%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Net income: ▲ +75% (Loss); vs −$20.8M in Q2 FY2025

Aug 6, 2026 Outlined plans for abdakibart Phase 3 and a new antibody candidate The company plans a registrational Phase 3 program for abdakibart and an AVTX-010 IND submission in the first half of 2027.
Jun 16, 2026 Advanced a long-acting antibody candidate AVTX-010 may be developed for hidradenitis suppurativa and other inflammatory disorders.
May 5, 2026 Phase 2 trial met its primary endpoint The trial reported improvements in HiSCR75 response rates for both dose groups.

Shrinking. Revenue fell 99% in 4 years, from $5.4M in FY2021 to $59K in FY2025, about 68% a year.

From LIGHT to interleukin beta The older report focused on the LIGHT-signaling network and an antibody for asthma; the latest centers on interleukin beta treatments, led by an antibody for hidradenitis suppurativa.

Who Do They Compete With?

Competes with Novartis, GenSci, Sunshine Guojian, TavoTek, AbbVie, UCB, Moonlake Immunotherapies, Incyte, Lilly, Merck, Pfizer, Sanofi, and Takeda

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