$AVTX
Avalo Therapeutics, Inc. Stock $avtx

$avtx Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000162828024013786 Filed on March 29, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$0.00	$571.0K	$1.924M
YoY Change	-100.0%	-36.27%	-89.34%
Cost Of Revenue	-$80.00K	-$221.0K	$1.284M
YoY Change	-114.52%	-135.65%	-62.61%
Gross Profit	$80.00K	$792.0K	$640.0K
YoY Change	-205.26%	186.96%	-95.62%
Gross Profit Margin		138.7%	33.26%
Selling, General & Admin	$3.193M	$2.676M	$10.30M
YoY Change	17.91%	-9.56%	-50.27%
% of Gross Profit	3991.25%	337.88%	1609.38%
Research & Development	$2.116M	$1.867M	$13.78M
YoY Change	-64.78%	-69.75%	-55.97%
% of Gross Profit	2645.0%	235.73%	2153.75%
Depreciation & Amortization	$34.00K	$38.00K	$158.0K
YoY Change	3.03%	8.57%	-4.82%
% of Gross Profit	42.5%	4.8%	24.69%
Operating Expenses	$2.116M	$4.543M	$24.08M
YoY Change	-75.72%	-50.25%	-23.07%
Operating Profit	-$32.77M	-$3.751M	-$23.44M
YoY Change	272.69%	-57.64%	-37.38%
Interest Expense	$100.0K	-$519.0K	-$4.137M
YoY Change	-110.54%	-45.31%	-0.79%
% of Operating Profit
Other Income/Expense, Net	-$88.52M	$0.00	-$42.00K
YoY Change	7563.72%		-99.0%
Pretax Income	-$121.3M	-$8.177M	-$31.53M
YoY Change	1119.46%	-16.6%	-24.26%
Income Tax	$7.000K	-$9.000K	$14.00K
% Of Pretax Income
Net Earnings	-$121.3M	-$8.168M	-$31.54M
YoY Change	1118.38%	-16.75%	-24.28%
Net Earnings / Revenue		-1430.47%	-1639.5%
Basic Earnings Per Share	-$141.00		-$114.00
Diluted Earnings Per Share	-$141.00	-$10.12	-$113.60
COMMON SHARES
Basic Shares Outstanding	1.034M shares	192.4M shares	277.7K shares
Diluted Shares Outstanding			277.7K shares

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$110.2M	$7.415M	$7.415M
YoY Change	560.26%	-43.71%	-43.71%
Cash & Equivalents	$110.2M	$7.415M	$7.415M
Short-Term Investments
Other Short-Term Assets	$1.001M	$844.0K	$844.0K
YoY Change	-40.77%	-35.33%	-35.33%
Inventory		$0.00	$0.00
Prepaid Expenses
Receivables
Other Receivables	$35.00K	$136.0K
Total Short-Term Assets	$111.2M	$8.395M	$8.395M
YoY Change	477.64%	-48.86%	-48.86%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.882M	$1.965M	$1.965M
YoY Change	-22.93%	-18.5%	-18.5%
Goodwill	$10.50M	$10.50M
YoY Change	-27.11%	-27.11%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$131.0K	$131.0K	$131.0K
YoY Change	0.0%	0.0%	0.0%
Total Long-Term Assets	$12.52M	$12.60M	$12.60M
YoY Change	-26.3%	-25.68%	-25.68%
TOTAL ASSETS
Total Short-Term Assets	$111.2M	$8.395M	$8.395M
Total Long-Term Assets	$12.52M	$12.60M	$12.60M
Total Assets	$123.7M	$20.99M	$20.99M
YoY Change	241.46%	-37.08%	-37.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$916.0K	$446.0K	$446.0K
YoY Change	-83.54%	-84.52%	-84.52%
Accrued Expenses	$7.383M	$4.172M	$4.172M
YoY Change	-5.68%	-67.17%	-67.17%
Deferred Revenue		$0.00
YoY Change		-100.0%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due		$0.00	$0.00
YoY Change		-100.0%	-100.0%
Total Short-Term Liabilities	$215.7M	$4.618M	$4.618M
YoY Change	827.94%	-79.12%	-79.12%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change	-100.0%	-100.0%	-100.0%
Other Long-Term Liabilities	$1.281M	$8.916M	$8.916M
YoY Change	-21.36%	421.1%	4.39%
Total Long-Term Liabilities	$1.281M	$8.916M	$8.916M
YoY Change	-21.36%	421.1%	-59.52%
TOTAL LIABILITIES
Total Short-Term Liabilities	$215.7M	$4.618M	$4.618M
Total Long-Term Liabilities	$1.281M	$8.916M	$8.916M
Total Liabilities	$224.8M	$13.69M	$13.69M
YoY Change	428.95%	-69.09%	-69.09%
SHAREHOLDERS EQUITY
Retained Earnings	-$456.4M	-$335.1M
YoY Change	45.45%	10.31%
Common Stock	$1.000K	$1.000K
YoY Change	-92.31%	-88.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$112.5M	$7.304M	$7.304M
YoY Change
Total Liabilities & Shareholders Equity	$123.7M	$20.99M	$20.99M
YoY Change	241.46%	-37.08%	-37.08%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	-$121.3M	-$8.168M	-$31.54M
YoY Change	1118.38%	-16.75%	-24.28%
Depreciation, Depletion And Amortization	$34.00K	$38.00K	$158.0K
YoY Change	3.03%	8.57%	-4.82%
Cash From Operating Activities	-$6.200M	-$2.770M	-$30.68M
YoY Change	-38.61%	-29.7%	14.48%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$2.000K	$158.0K
YoY Change	-100.0%		66.32%
Acquisitions
YoY Change
Other Investing Activities	$356.0K	-$5.000K	$25.00K
YoY Change	1324.0%
Cash From Investing Activities	$356.0K	-$3.000K	-$133.0K
YoY Change	-367.67%		40.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$46.29M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$108.6M	2.000K	25.04M
YoY Change	690.02%	-97.56%	-270.37%
NET CHANGE
Cash From Operating Activities	-$6.200M	-2.770M	-30.68M
Cash From Investing Activities	$356.0K	-3.000K	-133.0K
Cash From Financing Activities	$108.6M	2.000K	25.04M
Net Change In Cash	$102.8M	-2.771M	-5.771M
YoY Change	2784.25%	-28.18%	-86.11%
FREE CASH FLOW
Cash From Operating Activities	-$6.200M	-$2.770M	-$30.68M
Capital Expenditures	$0.00	-$2.000K	$158.0K
Free Cash Flow	-$6.200M	-$2.768M	-$30.84M
YoY Change	-39.56%	-29.75%	14.66%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	001-37590
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	45-0705648
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	540 Gaither Road
CY2023	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 400
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Rockville
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	MD
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	20850
CY2023	dei	City Area Code CityAreaCode	410
CY2023	dei	Local Phone Number LocalPhoneNumber	522-8707
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
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CY2022Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	131000	usd
CY2022Q4	us-gaap	Assets Assets	33367000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	2882000	usd
CY2022Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	13214000	usd
CY2022Q4	us-gaap	Notes Payable Current NotesPayableCurrent	5930000	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	22114000	usd
CY2022Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	13486000	usd
CY2022Q4	us-gaap	Accrued Royalties Current And Noncurrent AccruedRoyaltiesCurrentAndNoncurrent	2000000	usd
CY2022Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	141000	usd
CY2022Q4	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	4830000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1711000	usd
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	801746	shares
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	0	usd
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	292909000	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-303824000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-10915000	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	33367000	usd
CY2022	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	18051000	usd
CY2022	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	3434000	usd
CY2022	us-gaap	Research And Development Expense Excluding Acquired In Process Cost ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost	31308000	usd
CY2023	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-3417000	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-41658000	usd
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1063
CY2023	us-gaap	Operating Income Loss OperatingIncomeLoss	-27351000	usd
CY2022	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-4170000	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-31500000	usd
CY2023	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	usd
CY2023	us-gaap	Costs And Expenses CostsAndExpenses	29275000	usd
CY2022	us-gaap	Operating Income Loss OperatingIncomeLoss	-37440000	usd
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CY2023	dei	Entity Central Index Key EntityCentralIndexKey	0001534120
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2023	dei	Amendment Flag AmendmentFlag	false
CY2023Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.0042
CY2023Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.0042
CY2023Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.0042
CY2023Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.0042
CY2022Q3	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.0833
CY2023Q4	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#DerivativeLiabilitiesNoncurrent
CY2022Q4	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#DerivativeLiabilitiesNoncurrent
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://www.avalotherapeutics.com/20231231#PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://www.avalotherapeutics.com/20231231#PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
CY2023Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesAndOtherLiabilities
CY2022Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesAndOtherLiabilities
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Entity Registrant Name EntityRegistrantName	AVALO THERAPEUTICS, INC.
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Public Float EntityPublicFloat	4800000	usd
CY2024Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	1034130	shares
CY2023Q4	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
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CY2023Q4	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2023	dei	Auditor Firm AuditorFirmId	42
CY2023	dei	Auditor Name AuditorName	Ernst & Young LLP
CY2023	dei	Auditor Location AuditorLocation	Tysons, Virginia
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7415000	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13172000	usd
CY2023Q4	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	136000	usd
CY2022Q4	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	1919000	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	0	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	20000	usd
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CY2022Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1290000	usd
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CY2023	avtx	Increase Decrease In Lease Liability IncreaseDecreaseInLeaseLiability	-76000	usd
CY2022	avtx	Increase Decrease In Lease Liability IncreaseDecreaseInLeaseLiability	-9000	usd
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CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-26751000	usd
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CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-14699000	usd
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CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-41545000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13318000	usd
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CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7547000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13318000	usd
CY2023	us-gaap	Interest Paid Net InterestPaidNet	1925000	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	2931000	usd
CY2023	avtx	Fair Value Of Common Stock Retired In Exchange For Issuance Of Prefunded Warrants FairValueOfCommonStockRetiredInExchangeForIssuanceOfPrefundedWarrants	3640000	usd
CY2022	avtx	Fair Value Of Common Stock Retired In Exchange For Issuance Of Prefunded Warrants FairValueOfCommonStockRetiredInExchangeForIssuanceOfPrefundedWarrants	0	usd
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7415000	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13172000	usd
CY2023Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	1000	usd
CY2022Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	15000	usd
CY2023Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	131000	usd
CY2022Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	131000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13318000	usd
CY2023	us-gaap	Nature Of Operations NatureOfOperations	Business<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Avalo Therapeutics, Inc. (the “Company” or “Avalo” or “we”) is a clinical stage biotechnology company focused on the treatment of immune dysregulation. Avalo’s lead asset is AVTX-009, an anti-IL-1β monoclonal antibody (“mAb”) targeting inflammatory diseases. Avalo’s pipeline also includes quisovalimab (anti-LIGHT mAb) and AVTX-008 (BTLA agonist fusion protein). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Avalo was incorporated in Delaware and commenced operation in 2011, and completed its initial public offering in October 2015.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2023, Avalo effected a 1-for-240 reverse stock split of the outstanding shares of the Company’s common stock and began trading on a split-adjusted basis on December 29, 2023. The Company retroactively applied the reverse stock split to common share and per share amounts for periods prior to December 28, 2023, including the consolidated financial statements for the year ended December 31, 2022. Additionally, pursuant to their terms, a proportionate adjustment was made to the per share exercise price and number of shares issuable under all of the Company’s outstanding options and warrants, and the number of shares authorized for issuance pursuant to the Company’s equity incentive plans have been reduced proportionately. Avalo retroactively applied such adjustments in the notes to consolidated financial statements for periods presented prior to December 28, 2023, including the year ended December 31, 2022. The reverse stock split did not reduce the number of authorized shares of common and preferred stock and did not alter the par value. Previously, on July 7, 2022, Avalo effected a 1-for-12 reverse stock split of the then outstanding shares of the Company’s common stock.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Since inception, we have incurred significant operating and cash losses from operations. We have primarily funded our operations to date through sales of equity securities, out-licensing transactions and sales of assets. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">For the year ended December 31, 2023, Avalo generated a net loss of $31.5 million and negative cash flows from operations of $30.7 million. As of December 31, 2023, Avalo had $7.4 million in cash and cash equivalents. For the year ended December 31, 2023, the Company raised approximately $46.2 million of net proceeds from equity offerings. Avalo fully retired its debt in 2023, which included principal payments of $21.2 million, inclusive of the full payoff of the loan in September of 2023.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In March 2024, Avalo acquired AVTX-009, an anti-IL-1β mAb, through its acquisition of AlmataBio Inc. (“AlmataBio”). Additionally, in March 2024, the Company closed a private placement financing for up to $185 million in gross proceeds, including initial upfront gross investment of $115.6 million. Avalo estimates upfront net proceeds of approximately $105 million after deducting estimated transaction fees and expenses from both the private placement financing and the acquisition of AlmataBio. The Company could receive an additional $69.4 million of gross proceeds upon the exercise of warrants issued in the financing. 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 through this data readout and into 2027. </span></div>Based on our current operating plans, we expect that our existing cash and cash equivalents are sufficient to fund operations for at least twelve months from the filing date of this Annual Report on Form 10-K. The Company closely monitors its cash and cash equivalents and seeks to balance the level of cash and cash equivalents with our projected needs to allow us to withstand periods of uncertainty relative to the availability of funding on favorable terms. We may need to satisfy our future cash needs through sales of equity securities under the Company’s ATM program or otherwise, out-licensing transactions, strategic alliances/collaborations, sale of programs, and/or mergers and acquisitions. There can be no assurance that any financing or business development initiatives can be realized by the Company, or if realized, what the terms may be. Further if the Company raises additional funds through collaborations, strategic alliances or licensing arrangements with third parties, the Company might have to relinquish valuable rights to its technologies, future revenue streams, research programs or product candidates. To the extent that we raise capital through the sale of equity, the ownership interest of our existing stockholders will be diluted, and the terms may include liquidation or other preferences that adversely affect the rights of our stockholders.
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-30700000	usd
CY2023	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	46200000	usd
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. On an ongoing basis, management evaluates its estimates, including estimates related to but not limited to, revenue recognition, cost of product sales, stock-based compensation, fair value measurements, the valuation of derivative liabilities, cash flows used in management's going concern assessment, income taxes, goodwill, and clinical trial accruals. The Company bases its estimates on historical experience and other market‑specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.</span></div>
CY2023	avtx	Accounts Receivable Payment Terms AccountsReceivablePaymentTerms	P60D
CY2023Q4	avtx	Accounts Receivable Prompt Payment Discount AccountsReceivablePromptPaymentDiscount	0.02
CY2023	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="text-align:justify;text-indent:63pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company maintains a portion of its cash and cash equivalent balances in the form of a money market account with a financial institution that management believes to be creditworthy. The Company has no financial instruments with off‑balance sheet risk of loss.</span></div>
CY2023	avtx	Lessee Operating Lease Number Of Contracts LesseeOperatingLeaseNumberOfContracts	2	contract
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CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	277727	shares
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-114
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-114
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-41658000	usd
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	39202	shares
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	39202	shares
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1063
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1063
CY2023	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	3900000	usd
CY2023	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	3900000	usd
CY2023	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings	-700000	usd
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CY2022Q4	avtx	Property Plant And Equipment And Operating Lease Right Of Use Asset Before Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization	2825000	usd
CY2023Q4	avtx	Property Plant And Equipment And Operating Lease Right Of Use Asset Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization	542000	usd
CY2022Q4	avtx	Property Plant And Equipment And Operating Lease Right Of Use Asset Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization	414000	usd
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CY2023	us-gaap	Depreciation Depreciation	200000	usd
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CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	1750000	usd
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CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	532000	usd
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CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	1711000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	1903000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	2243000	usd
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CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	547000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	557000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	258000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	201000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	224000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	2330000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	427000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	1903000	usd
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CY2023	us-gaap	Number Of Reporting Units NumberOfReportingUnits	1	reportingunit
CY2023	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	3900000	usd
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CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	532000	usd
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CY2022Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	480000	usd
CY2023Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	4172000	usd
CY2023Q4	avtx	Number Of Class Of Stock Authorized NumberOfClassOfStockAuthorized	2	class_of_stock
CY2023Q4	avtx	Capital Stock Shares Authorized CapitalStockSharesAuthorized	205000000	shares
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CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
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CY2023	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	24000	usd
CY2022	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	24000	usd
CY2023	us-gaap	Deferred State And Local Income Tax Expense Benefit DeferredStateAndLocalIncomeTaxExpenseBenefit	-10000	usd
CY2022	us-gaap	Deferred State And Local Income Tax Expense Benefit DeferredStateAndLocalIncomeTaxExpenseBenefit	4000	usd
CY2023	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	14000	usd
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CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	28000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	37268000	usd
CY2022Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	32393000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Tax Credit Carryforwards DeferredTaxAssetsTaxCreditCarryforwards	5854000	usd
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CY2023Q4	avtx	Deferred Tax Assets Capitalized Research And Development DeferredTaxAssetsCapitalizedResearchAndDevelopment	6945000	usd
CY2022Q4	avtx	Deferred Tax Assets Capitalized Research And Development DeferredTaxAssetsCapitalizedResearchAndDevelopment	6567000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	3557000	usd
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CY2023Q4	avtx	Deferred Tax Assets Basis Difference In Tangible And Intangible Assets Net DeferredTaxAssetsBasisDifferenceInTangibleAndIntangibleAssetsNet	1843000	usd
CY2022Q4	avtx	Deferred Tax Assets Basis Difference In Tangible And Intangible Assets Net DeferredTaxAssetsBasisDifferenceInTangibleAndIntangibleAssetsNet	2299000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation	118000	usd
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CY2023Q4	avtx	Deferred Tax Assets Installment Sale DeferredTaxAssetsInstallmentSale	1601000	usd
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CY2023Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther	336000	usd
CY2022Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther	395000	usd
CY2023Q4	avtx	Deferred Tax Assets Leasing Arrangements DeferredTaxAssetsLeasingArrangements	410000	usd
CY2022Q4	avtx	Deferred Tax Assets Leasing Arrangements DeferredTaxAssetsLeasingArrangements	523000	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities Prepaid Expenses DeferredTaxLiabilitiesPrepaidExpenses	118000	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities Prepaid Expenses DeferredTaxLiabilitiesPrepaidExpenses	248000	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities Leasing Arrangements DeferredTaxLiabilitiesLeasingArrangements	286000	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities Leasing Arrangements DeferredTaxLiabilitiesLeasingArrangements	408000	usd
CY2023Q4	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Goodwill DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill	774000	usd
CY2022Q4	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Goodwill DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill	702000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	56754000	usd
CY2022Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	52208000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	56909000	usd
CY2022Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	52349000	usd
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CY2022Q4	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	141000	usd
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CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.2100
CY2022	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.2100
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses	-0.0260
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses	0
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CY2023	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.0003
CY2022	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	-0.0001
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Tax Credits Research EffectiveIncomeTaxRateReconciliationTaxCreditsResearch	-0.0047
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Tax Credits Research EffectiveIncomeTaxRateReconciliationTaxCreditsResearch	-0.0201
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Other Reconciling Items Percent EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent	0
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Other Reconciling Items Percent EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent	-0.0019
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment	-0.1754
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment	-0.2015
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.0004
CY2022	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.0006
CY2023	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	4600000	usd
CY2019Q3	avtx	Royalty Agreement Payment Received RoyaltyAgreementPaymentReceived	2000000	usd
CY2019Q3	avtx	Royalty Agreement Period After Public Launch To Terminate Agreement RoyaltyAgreementPeriodAfterPublicLaunchToTerminateAgreement	P3Y
CY2019Q3	avtx	Royalty Agreement Buyout Option Percentage Of Net Present Value Of Royalty Payments RoyaltyAgreementBuyoutOptionPercentageOfNetPresentValueOfRoyaltyPayments	0.75

Files In Submission

Name	View Source	Status
0001628280-24-013786-index-headers.html	Edgar Link	pending
0001628280-24-013786-index.html	Edgar Link	pending
0001628280-24-013786.txt	Edgar Link	pending
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avtx-20231231.xsd	Edgar Link	pending
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avtx-20231231_htm.xml	Edgar Link	completed
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ex-3112023.htm	Edgar Link	pending
ex-3122023.htm	Edgar Link	pending
ex-3212023.htm	Edgar Link	pending
ex-32fifthamendedandrestat.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
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R13.htm	Edgar Link	pending
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R15.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R46.htm	Edgar Link	pending
R47.htm	Edgar Link	pending
R48.htm	Edgar Link	pending
R49.htm	Edgar Link	pending
avtx-20231231_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
R5.htm	Edgar Link	pending
R50.htm	Edgar Link	pending
R51.htm	Edgar Link	pending
R52.htm	Edgar Link	pending
R53.htm	Edgar Link	pending
R54.htm	Edgar Link	pending
R55.htm	Edgar Link	pending
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R66.htm	Edgar Link	pending
R67.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
avtx-20231231_lab.xml	Edgar Link	unprocessable

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$AVTX
Avalo Therapeutics, Inc. Stock $avtx

2024 Q1 Form 10-K Financial Statement

#000162828024013786 Filed on March 29, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVTX Avalo Therapeutics, Inc. Stock $avtx

2024 Q1 Form 10-K Financial Statement

#000162828024013786 Filed on March 29, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVTX
Avalo Therapeutics, Inc. Stock $avtx