| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net (loss) income | -64,539 | -33,914 |
| Depreciation and amortization | 328 | 269 |
| Stock-based compensation | 9,113 | 5,959 |
| Accretion of available-for-sale investments, net | 493 | 146 |
| Acquired in-process research and development | 0 | 0 |
| Excess of initial warrant fair value over private placement proceeds | 0 | 0 |
| Change in fair value of warrant liability | 0 | 0 |
| Transaction costs paid pursuant to private placement | 0 | 0 |
| Contingent consideration paid pursuant to almatabio transaction | 0 | 0 |
| Lease incentive | - | 0 |
| Transaction costs payable upon exercise of warrants issued in private placement | 0 | 0 |
| Change in fair value of derivative liability | 14,680 | 2,150 |
| Deferred taxes | 34 | 24 |
| Prepaid expenses and other current assets | -2,186 | -2,422 |
| Accounts payable | 191 | 2,083 |
| Accrued expenses and other current liabilities | 1,312 | 292 |
| Lease liability, net | -24 | 14 |
| Net cash used in operating activities | -37,212 | -20,847 |
| Purchases of investments | 94,621 | 70,860 |
| Maturities of investments | 10,500 | - |
| Cash assumed from almatabio transaction | 0 | 0 |
| Net cash (used in) provided by investing activities | -84,121 | -70,860 |
| Proceeds from issuance of common stock pursuant to atm program, net | 14,370 | - |
| Cash paid related to withholding shares to satisfy rsu tax withholding obligations | 510 | 509 |
| Proceeds from issuance of common stock under employee stock purchase plan | 40 | 40 |
| Proceeds from private placement investment, gross | 0 | 0 |
| Transaction costs paid pursuant to private placement | 0 | 0 |
| Net cash provided by financing activities | 13,900 | -469 |
| (decrease) increase in cash, cash equivalents and restricted cash | -107,433 | -92,176 |
| Cash and cash equivalents at beginning of period | 134,696 | - |
| Cash and cash equivalents at end of period | 27,263 | - |
Avalo Therapeutics, Inc. (AVTX)
Avalo Therapeutics, Inc. (AVTX)