WAYNE, Pa. — May 6, 2026 — Leads & Copy — Avalo Therapeutics, Inc. (NASDAQ: AVTX) announced the pricing of its underwritten public offering. The clinical-stage biotechnology company, dedicated to developing IL-1β based treatments for immune-mediated inflammatory diseases, is offering 19,730,000 shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase 1,400,000 shares of common stock.
The shares are being sold at a public offering price of $17.75 per share, and the pre-funded warrants are priced at $17.749 each, representing the per share public offering price of the common stock, less the $0.001 per share exercise price for each pre-funded warrant.
Avalo has granted the underwriters a 30-day option to purchase up to an additional 3,169,500 shares of its common stock under the same terms. The company anticipates gross proceeds of approximately $375 million from the offering, before deducting underwriting discounts and commissions and offering expenses, and assuming no exercise of the underwriters’ option to purchase additional shares.
Avalo intends to use the net proceeds from the offering, along with existing cash, cash equivalents, and short-term investments, to advance the clinical development of abdakibart, including through its Phase 3 topline data release, and for working capital and other general corporate purposes.
Leerink Partners, TD Cowen, BofA Securities, Piper Sandler and Cantor are acting as joint bookrunning managers for the offering.
The offering is expected to close on May 7, 2026, pending customary closing conditions. The securities are being offered pursuant to a shelf registration statement on Form S-3 (No. 333-292614) filed with the SEC on January 8, 2026, and declared effective on January 20, 2026. The offering is being made via a prospectus supplement and accompanying prospectus that form part of the registration statement.
The preliminary prospectus supplement and accompanying base prospectus were filed with the SEC on May 5, 2026. A final prospectus supplement will be filed with the SEC and available at www.sec.gov. Copies may also be obtained from Leerink Partners LLC, TD Securities (USA) LLC, BofA Securities, Piper Sandler & Co., and Cantor Fitzgerald & Co.
Avalo Therapeutics is focused on developing IL-1β-based treatments for immune-mediated inflammatory diseases. Its lead asset, abdakibart (AVTX-009), is an anti-IL-1β monoclonal antibody (mAb). Positive topline data was recently reported for abdakibart in a Phase 2 clinical trial in hidradenitis suppurativa (HS).
Source: Avalo Therapeutics
