Stifel Reiterates Buy Rating on Avalo Therapeutics Inc. (AVTX)

Stifel analyst Alex Thompson reiterated a Buy rating and $36.00 price target on Avalo Therapeutics Inc. (NASDAQ: AVTX).

The analyst commented, "We hosted CEO Garry Neil, CMO Mittie Doyle, and CFO Chris Sullivan for a virtual NDR. We covered 1) the mechanistic rationale for AVTX-009'sIL-1β selectivity in Hidradenitis Suppurativa (HS), 2) the design/execution of the ongoing Ph2 LOTUS study, and 3) the potential for IL-1β inhibition across a widerange of indications. On the IL-1β target, management is confident in the constellation of datapoints supporting the importance of IL-1β in HS disease pathology and inhibition represents the key driver of Lutikizumab's success despite targeting both IL-1a and IL-1β. LOTUS study enrollment remains on track for data in mid-26 despite significant competition in the HS development space--management emphasized siteselection and training as key areas of focus and believe that the orthogonal MOA supports a path forward for a drug with efficacy in line with approved agents. Finally, while the focus remains on HS, AVTX sees a clear path towards first-in-class indication opportunities."

For an analyst ratings summary and ratings history on Avalo Therapeutics Inc. click here. For more ratings news on Avalo Therapeutics Inc. click here.

Shares of Avalo Therapeutics Inc. closed at $6.73 yesterday.

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