Why Avalo Therapeutics Stock Is Up Today
Portfolio Pulse from Erica Kollmann
Avalo Therapeutics, Inc. (NASDAQ:AVTX) has paid off the remainder of its $35 million debt to Horizon Technology Finance. The company states that this move signifies its commitment to financial stability and allows it to focus on future growth and advancement of its drug candidates. The company's shares are trading higher, with more than 231 million shares traded in the session, compared to the stock's 100-day average of 39.363 million shares.
September 26, 2023 | 2:56 pm
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Avalo Therapeutics has paid off its $35 million debt, indicating financial stability and a focus on future growth. This has led to an increase in the company's stock price.
Paying off a significant debt like $35 million is a positive sign of financial stability for Avalo Therapeutics. This move allows the company to focus on future growth and advancement of its drug candidates, which is likely to attract investors and boost the company's stock price in the short term.
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