Avalo Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $59,000 | $441,000 | $1.9M | $18.1M | $5.4M |
| Cost of revenue | — | — | $1.3M | $3.4M | $1.5M |
| Selling, general & administrative | — | — | $10.3M | $20.7M | — |
| Research and development | $50.1M | $24.4M | $13.8M | $31.3M | $59.8M |
| Operating income | -$72.9M | -$68.5M | -$27.4M | -$37.4M | -$82.1M |
| Pretax income | -$78.1M | -$35.0M | -$31.5M | -$41.6M | — |
| Income tax expense | $165,000 | $114,000 | $14,000 | $28,000 | -$196,000 |
| Net income | -$78.3M | -$35.1M | -$31.5M | -$41.7M | -$84.4M |
| Balance Sheet | |||||
| Cash and equivalents | $15.9M | $134.5M | $7.4M | $13.2M | $54.6M |
| Current assets | $105.3M | $138.9M | $8.4M | $16.4M | $61.8M |
| Total assets | $116.5M | $150.7M | $21.0M | $33.4M | $80.2M |
| Current liabilities | $12.9M | $7.0M | $4.6M | $22.1M | $19.9M |
| Total liabilities | $33.4M | $17.7M | $13.7M | $44.3M | $57.1M |
| Stockholders' equity | $83.0M | $133.0M | $7.3M | -$10.9M | $23.1M |
| Cash Flow Statement | |||||
| Cash from operations | -$51.5M | -$49.1M | -$30.7M | -$26.8M | -$70.9M |
| Depreciation and amortization | $344,000 | $169,000 | $158,000 | $166,000 | $1.7M |
| Stock-based compensation | $13.6M | $5.9M | $3.5M | $7.6M | $8.2M |
| Capital expenditure | — | — | $0 | $95,000 | $113,000 |
| Free cash flow | — | — | -$30.7M | -$26.8M | -$71.0M |
| Share repurchases | — | — | $3.6M | — | — |
| Impairments | — | $0 | $3.9M | $0 | — |
Shares outstanding 52.6M · Free float 90.8%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.