Avalo fails asthma PhII with lead candidate, shares crater
Avalo Therapeutics, a biotech working on immunology, said its lead candidate failed a Phase II study testing the treatment in a specific type of asthma — and the results sent shares crashing 85%.
The biotech said Monday morning that AVTX-002 did not reduce asthma-related events in patients with poorly controlled non-eosinophilic asthma. The placebo-controlled trial that enrolled 91 patients tested 600 mg of the investigational monoclonal antibody targeting LIGHT, an immunoregulatory cytokine with two signaling receptors: HVEM and lymphotoxin β. Patients were dosed three times over 12 weeks.
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