Avalo Therapeutics Q2 2024 GAAP EPS $(14.07) May Not Be Comparable To $(6.70) Estimate; Cash On Hand Of Approximately $93.4M As Of June 30, 2024 With Expected Cash Runway Into 2027
Portfolio Pulse from Benzinga Newsdesk
Avalo Therapeutics reported a Q2 2024 GAAP EPS of $(14.07), which is not comparable to the $(6.70) estimate. The company has approximately $93.4M in cash on hand as of June 30, 2024, with an expected cash runway into 2027.
August 12, 2024 | 11:30 am
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Avalo Therapeutics reported a Q2 2024 GAAP EPS of $(14.07), which is significantly worse than the $(6.70) estimate. However, the company has a strong cash position with $93.4M on hand and an expected cash runway into 2027.
The significantly worse-than-expected EPS is likely to negatively impact the stock price in the short term. However, the strong cash position and long runway may mitigate some concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100