Oppenheimer downgraded Avalo Therapeutics to Perform from Outperform. With the Phase 2 PEAK trial of AVTX-002 in non-eosinophilic asthma having missed its primary endpoint of asthma-related clinical events versus placebo and cash resources remaining limited, the firm is moving to the sidelines as the company evaluates its next steps. Nonetheless, the drug having reduced such clinical events by about 50% in the sub-group with elevated baseline levels of LIGHT per Oppenheimer’s discussion with management provides an “encouraging clinical signal” as well as sets the stage for potential future development to incorporate a biomarker-based approach, the firm adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AVTX:
- Avalo Therapeutics downgraded to Sector Perform from Outperform at RBC Capital
- Avalo Plummets 80% on Phase 2 Disappointment in Asthma
- Avalo Therapeutics says AVTX-002 did not meet primary endpoint in Phase 2 trial
- Avalo Announces Topline Data from Phase 2 PEAK Trial for AVTX-002 (quisovalimab) in Patients with Non-Eosinophilic Asthma
- Avalo Announces Appointment of Michael Croft, Ph.D. and Jeff Edelson, M.D. to its Scientific Advisory Board