Recap: Avalo Therapeutics Q3 Earnings
Portfolio Pulse from Benzinga Insights
Avalo Therapeutics (NASDAQ:AVTX) reported its Q3 earnings, beating estimated earnings by 90.0% with an EPS of $-0.11 versus an estimate of $-1.1. However, revenue was down $14.71 million from the same period last year. Last quarter, the company also beat EPS estimates, but this was followed by an 11.53% drop in the share price the next day.
November 09, 2023 | 2:00 pm
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Avalo Therapeutics reported better than expected Q3 earnings but saw a significant drop in revenue compared to last year. Previous earnings beat was followed by a share price drop.
While Avalo Therapeutics beat earnings estimates, the significant drop in revenue could be a concern for investors. Additionally, the previous quarter's earnings beat was followed by a drop in share price, indicating that beating estimates does not necessarily translate to positive market reaction for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100