Avalo Therapeutics Q2 net loss widens, driven by higher R&D expenses
AVTX•Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Loss | Miss | $36.36 mln | $20.82 mln (11 Analysts) |
| Q2 Pretax Loss | Miss | $36.34 mln | $20.81 mln (9 Analysts) |
| Q2 Operating Expenses | $31.52 mln |
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 15 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Avalo Therapeutics Inc is $43.50, about 130.9% above its August 5 closing price of $18.84.
Expense drivers
- R&D spending — Higher research and development expenses were driven by a $10 million development milestone for abdakibart and costs supporting its development in HS.
- Administrative costs — General and administrative expenses increased due to stock-based compensation.
