RBC Capital analyst Gregory Renza downgraded Avalo Therapeutics to Sector Perform from Outperform with a price target of 75c, down from $9, following the trial failure for the Phase II PEAK clinical study in non-eosinophilic asthma. As management considers strategic options “in the face of currently constrained resources,” RBC is moving to the sidelines until any new clarity on the path forward or any new conviction on the clinical utility of the LIGHT pathway emerges.
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Read More on AVTX:
- 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
- Avalo to Present at ATS 2023 Respiratory Innovation Summit