Avalo Therapeutics launches public offering of stock and warrants to fund clinical trials.

Avalo Therapeutics, a clinical-stage biotech focused on IL-1β treatments, announced a public offering of common stock and pre-funded warrants. The company plans to use the proceeds to advance its lead drug abdakibart through Phase 3 trials and for general corporate purposes. Underwriters have a 30-day option to buy additional shares. The offering is subject to market conditions and regulatory approval, with detailed terms to be filed with the SEC soon.