Avalo Therapeutics, Inc. (NASDAQ:AVTX) shares are trading higher Friday. The stock appears to be recovering from a 25% drop on Thursday.
What To Know:
Shares of AVTX have been volatile recently after the company announced the sale of its assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) on Sept. 12.
AUG Therapeutics, LLC will pay Avalo Therapeutics an upfront payment of $150,000 for each compound and make a contingent milestone payment of $15,000,000 (for a potential aggregate of $45 million). The transaction is expected to close in the fourth quarter of 2023.
Shares of AVTX are up on heavy trading volume. According to data from Benzinga Pro, more than 208 million shares have already been traded in the session, compared to the stock’s 100-day average of 28.343 million shares.
Avalo Therapeutics is a clinical-stage precision medicine company that develops and commercializes targeted therapeutics for patients with significant unmet clinical needs in immunology and rare genetic diseases.
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AVTX Price Action: According to Benzinga Pro, Avalo Therapeutics shares are up 21% at 12 cents at the time of publication.
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