Investors are staring at an ~80% decline in their Avalo Therapeutics (NASDAQ:AVTX) shares today after the company’s Phase 2 trial evaluating AVTX-002 in poorly controlled non-eosinophilic asthma (NEA) failed to reach its primary endpoint (a decrease in asthma associated events).
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The drug displayed a favorable safety and tolerability profile while also substantially lowering LIGHT levels for the trial duration. Additionally, a positive trend was observed in the lowering of asthma-associated events as compared to a placebo in subjects with high baseline LIGHT levels.
This provides the company a possibly novel biomarker in severe non-eosinophilic asthma. Avalo is continuing to study the data to hone in on the next steps in asthma as well as other indications.
With today’s cliff dive, Avalo shares have now tanked about 82% over the past five sessions.
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