What's Going On With Avalo Therapeutics (AVTX) Stock?
Portfolio Pulse from Erica Kollmann
Avalo Therapeutics, Inc. (NASDAQ:AVTX) shares are trading higher after a 25% drop on Thursday. The volatility is due to the company's recent announcement of the sale of its assets relating to AVTX-801, AVTX-802, and AVTX-803 to AUG Therapeutics, LLC. The transaction, expected to close in Q4 2023, involves an upfront payment of $150,000 for each compound and a contingent milestone payment of $15,000,000, totaling a potential aggregate of $45 million.
September 22, 2023 | 2:36 pm
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Avalo Therapeutics' stock is experiencing volatility due to the announced sale of assets. The transaction is expected to close in Q4 2023, potentially bringing in $45 million.
The sale of assets by Avalo Therapeutics has caused a significant impact on its stock price. The potential income from the transaction could strengthen the company's financial position, which is likely to be viewed positively by investors.
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