WAYNE, Pa. and ROCKVILLE, Md., Sept. 17, 2021 (GLOBE NEWSWIRE) — Avalo Therapeutics, Inc. (Nasdaq: AVTX), a leading clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical need in immunology, immuno-oncology, and rare genetic diseases, announced today the closing of the previously announced underwritten offering of common stock, including the purchase of 1,808,878 additional shares pursuant to the exercise by the underwriters of their option to purchase additional shares at a public offering price of $2.20 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Avalo to 14,308,878 shares and increased the amount of gross proceeds raised in the offering, before underwriting discounts and estimated expenses of the offering payable by Avalo, to approximately $31.5 million.
Jefferies and RBC Capital Markets are acting as joint book-running managers for the offering.
About Avalo Therapeutics
Avalo Therapeutics is a leading clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical need in immunology, immuno-oncology, and rare genetic diseases. The Company has built a diverse portfolio of innovative therapies to deliver meaningful medical impact for patients in urgent need. The Company’s clinical candidates commonly have a proven mechanistic rationale, biomarkers and/or an established proof-of-concept to expedite and increase the probability of success.
