Avalo Therapeutics decimated as AVTX-002 trial misses endpoint

Shares Avalo Therapeutics (Nasdaq: AVTX) plummeted almost 89% to $0.50 by close of trading yesterday, after the US clinical-stage biotech released disappointing clinical trial results asthma candidate

Avalo said that the Phase II randomized, double-blind, placebo-controlled trial (PEAK trial) evaluating AVTX-002 (quisovalimab, anti-LIGHT MAb) in patients with poorly controlled non-eosinophilic asthma (NEA) did not meet its primary endpoint, measured by the reduction in asthma-related events.

AVTX-002 demonstrated a favorable safety and tolerability profile. AVTX-002 significantly reduced LIGHT levels for the study duration indicating target engagement. Additionally, an exploratory analysis revealed a positive trend in reduction of asthma related events in patients treated with AVTX-002 as compared to placebo within a substantial sub-population of patients with elevated baseline LIGHT levels.