Avalo Therapeutics, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Avalo Therapeutics, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial information and corporate history.</b>

AI Summary

Avalo Therapeutics, Inc. (AVTX) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Avalo Therapeutics, Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The company was formerly known as Cerecor Inc., with a name change effective November 2, 2011. Avalo Therapeutics is incorporated in Delaware and operates in the Pharmaceutical Preparations industry. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Key financial elements such as common stock, additional paid-in capital, and retained earnings are detailed for various periods.

Why It Matters

For investors and stakeholders tracking Avalo Therapeutics, Inc., this filing contains several important signals. This filing provides investors with the latest financial performance and position of Avalo Therapeutics, crucial for understanding its current operational status and future prospects. The detailed financial data, including changes in equity and liabilities across different periods, allows for trend analysis and comparison with previous reporting cycles.

Risk Assessment

Risk Level: low — Avalo Therapeutics, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, providing routine financial disclosures without immediate indicators of significant new risks or positive developments.

Analyst Insight

Monitor future filings for updates on product development, clinical trial progress, and financial performance beyond the disclosed period.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-13 — Filing Date (Filed as of date)
• 2011-11-02 — Name Change Date (Former company name effective date)
• DE — State of Incorporation (State of incorporation)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Avalo Therapeutics, Inc. (company) — Filer name
• Cerecor Inc. (company) — Former company name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-13 (date) — Filed as of date
• Rockville, MD (location) — Business and mail address
• 2834 (industry_code) — Standard Industrial Classification (SIC)

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Reporting period for the 10-Q filing
• 2024-05-13: Filing Date — Date the 10-Q was officially filed with the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a continuing disclosure of financial performance. (This filing provides the most recent financial data for Avalo Therapeutics.)

SIC

Standard Industrial Classification code used to classify businesses based on their primary activity. (Indicates Avalo Therapeutics operates in the Pharmaceutical Preparations sector.)

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value AVTX Nasdaq Capital Market

Filing Documents

• avtx-20240331.htm (10-Q) — 860KB
• ex-101_almataxflameantixil.htm (EX-10.1) — 304KB
• ex-102_lillyandflamebiosci.htm (EX-10.2) — 285KB
• ex-103_lillyandflamelicens.htm (EX-10.3) — 21KB
• ex-3111q2024.htm (EX-31.1) — 10KB
• ex-3121q2024.htm (EX-31.2) — 10KB
• ex-3211q2024.htm (EX-32.1) — 11KB
• avtx-20240331_g1.jpg (GRAPHIC) — 481KB
• flamebiosignaturea.jpg (GRAPHIC) — 11KB
• lillysiganturea.jpg (GRAPHIC) — 2KB
• 0001628280-24-022763.txt (&nbsp;) — 7610KB
• avtx-20240331.xsd (EX-101.SCH) — 55KB
• avtx-20240331_cal.xml (EX-101.CAL) — 63KB
• avtx-20240331_def.xml (EX-101.DEF) — 335KB
• avtx-20240331_lab.xml (EX-101.LAB) — 577KB
• avtx-20240331_pre.xml (EX-101.PRE) — 441KB
• avtx-20240331_htm.xml (XML) — 658KB

Financial Statements

Financial Statements a) Condensed Consolidated Balance Sheets as of March 3 1 , 202 4 (Unaudited) and December 31, 202 3 3 b) Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) for the Three Months Ended March 3 1 , 202 4 and 202 3 5 c) Condensed Consolidated Statements of Preferred Stock and Changes in Stockholders' (D eficit) Equity (Unaudited) for the Three Months Ended March 3 1 , 202 4 and 202 3 6 d) Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 3 1 , 202 4 and 202 3 7 e) Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 6. Exhibits 40

SIGNATURES

SIGNATURES 42 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. AVALO THERAPEUTICS, INC. and SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except share and per share data) 3 Table of Contents March 31, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 110,177 $ 7,415 Other receivables 35 136 Prepaid expenses and other current assets 997 843 Restricted cash, current portion 4 1 Total current assets 111,213 8,395 Property and equipment, net 1,882 1,965 Goodwill 10,502 10,502 Restricted cash, net of current portion 131 131 Total assets $ 123,728 $ 20,993 Liabilities, mezzanine equity and stockholders' (deficit) equity Current liabilities: Accounts payable $ 916 $ 446 Accrued expenses and other current liabilities 7,383 4,172 Warrant liability 194,901 — Contingent consideration 12,500 — Total current liabilities 215,700 4,618 Royalty obligation 2,000 2,000 Deferred tax liability, net 162 155 Derivative liability 5,670 5,550 Other long-term liabilities 1,281 1,366 Total liabilities 224,813 13,689 Mezzanine equity: Series C Preferred Stock—$ 0.001 par value; 34,326 and 0 shares of Series C Preferred Stock authorized at March 31, 2024 and December 31, 2023, respectively; 22,358 and 0 shares of Series C Preferred Stock issued and outstanding at March 31, 2024 and December 31, 2023, respectively 11,457 — Series D Preferred Stock—$ 0.001 par value; 1 and 0 shares of Series D Preferred Stock authorized at March 31, 2024 and December 31, 2023, respectively; 1 and 0 shares of Series D Preferred Stock issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Series E Preferred Stock—$ 0.001 par value; 1 and 0 shares of Series E Preferred Stock authorized at March 31, 2024 and December 31, 2023, respectively; 1 and 0 shares of Series E Preferred Stock issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Stockholders' (deficit) equity: Common stock—$ 0.001 par valu

View Full Filing

View this 10-Q filing on SEC EDGAR