Avalo (AVTX) Fails to Meet Goal in Asthma Study, Stock Down 89%
Avalo Therapeutics, Inc. AVTX announced dismal top-line results from its phase II PEAK study of AVTX-002, a fully human, anti-LIGHT mAb, for treating patients with poorly controlled non-eosinophilic asthma (NEA). Per the data readout, the study failed to meet its primary endpoint of reduction in asthma-related events.
The stock of the company plunged 89% on Monday in response to the study failure.
Year to date, shares of Avalo have plunged 90.1% compared with the industry’s fall of 2%.
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The mid-stage PEAK study was evaluating the safety and efficacy of AVTX-002 for the treatment of poorly controlled NEA in 91 patients. The enrolled patients were divided into two cohorts, receiving either a 600 mg dose of AVTX-002 or placebo subcutaneously at days 0, 28 and 56. After 12 weeks of treatment, the efficacy and safety of AVTX-002 were evaluated in comparison with treatment with placebo through week 14.
The primary endpoint of the study constituted a reduction in several pre-defined asthma-related events associated with NEA.
It was observed that AVTX-002 exhibited a favorable safety and tolerability profile. Despite failing to meet the primary endpoint of the study, an additional exploratory analysis demonstrated a positive trend in the reduction of asthma-related events in patients treated with AVTX-002 as compared with placebo within a substantial sub-population of patients with elevated baseline LIGHT levels. AVTX-002 provided the proof of target engagement by significantly reducing LIGHT levels for the study duration.
Per Avalo, reducing LIGHT levels could potentially moderate immune dysregulation in many acute and chronic inflammatory disorders. Avalo also reported that its NEA candidate drug, AVTX-002, had previously demonstrated proof of concept in COVID-19-induced acute respiratory distress syndrome, including a reduction in mortality and respiratory failure, as well as a positive signal in Crohn’s Disease.
Avalo Therapeutics, Inc. Price and Consensus
Avalo Therapeutics, Inc. price-consensus-chart | Avalo Therapeutics, Inc. Quote
Zacks Rank and Other Stocks to Consider
Avalo currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the same industry are Akebia Therapeutics AKBA, Immunogen IMGN and Iterum Therapeutics ITRM, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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