Avalo Therapeutics Stock Jumps As $375 Million Raise Follows Phase 2 HS Trial Win

Late Tuesday, Avalo Therapeutics Inc. locked in a $375 million public offering—just hours after rolling out upbeat Phase 2 results for abdakibart. Riding the surge of interest tied to its hidradenitis suppurativa program, the company aims to fund its looming Phase 3 plans. Avalo is set to offer 19.73 million shares at $17.75 apiece, along with pre-funded warrants for another 1.4 million shares at $17.749 each. Closing is slated for May 7, pending standard closing conditions.