WASHINGTON (dpa-AFX) - Shares of Avalo Therapeutics, Inc. (AVTX) are soaring
over 260% on Thursday after the biotech company announced the acquisition of a
Phase 2-ready anti-IL-1? mAb developed for a chronic inflammatory skin
condition, through the acquisition of privately held AlmataBio, Inc.

AVTX is currently trading at $17.22, up $12.47 or 262.53%, on a huge volume of
4.4 million shares, compared to average volume fo 100 thousand, on the Nasdaq.
The stock opened its trading at $18.79 after closing Wednesday at $4.75. The
stock has traded between $3.95 and $1,130.40 in the past 52-week period.

The anti-IL-1? mAb, dubbed AVTX-009, has its origins at Eli Lilly. Avalo intends
to pursue the development of AVTX-009 in hidradenitis suppurativa (HS). Avalo
CEO Garry Neil said the antibody has a 'high probability of success for the
treatment of HS as evidenced by recent data readouts validating inhibition of
IL-1? in this disease.'

'We believe that HS is a multi-billion-dollar commercial opportunity and that
AVTX-009 has the potential to be best-in-class and best-in-indication because of
its target, half-life, and potency, which may allow for strong efficacy and
convenient dosing,' Neil added.



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