| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Acquired in-process research and development | NaN | 0 | 0 | 0 |
| Excess of initial warrant fair value over private placement proceeds | NaN | 0 | 0 | 0 |
| Change in fair value of warrant liability | NaN | 0 | 0 | 0 |
| Transaction costs paid pursuant to private placement | NaN | 0 | 0 | 0 |
| Net loss | -19,630 | -13,720 | -30,625 | -33,914 |
| Transaction costs paid upon exercise of warrants issued in private placement | NaN | 0 | 0 | 0 |
| Depreciation and amortization | 17 | 16 | 59 | 269 |
| Contingent consideration paid pursuant to almatabio transaction | NaN | 0 | 0 | 0 |
| Stock-based compensation | 3,575 | 4,508 | 3,154 | 5,959 |
| Accretion of available-for-sale investments, net | 106 | 197 | 347 | 146 |
| Lease incentive | NaN | NaN | NaN | 0 |
| Cash payable to tax authorities related to withholding shares to satisfy rsu withholding obligations | 0 | NaN | NaN | NaN |
| Lease early termination fee | NaN | 0 | NaN | NaN |
| Change in fair value of derivative liability | 480 | -24,200 | 12,530 | 2,150 |
| Deferred taxes | 12 | 131 | 10 | 24 |
| Other receivables | NaN | 0 | NaN | NaN |
| Prepaid expenses and other current assets | -228 | 4,774 | 236 | -2,422 |
| Accounts payable | 219 | -337 | -1,892 | 2,083 |
| Accrued expenses and other current liabilities | -1,495 | 5,350 | 1,020 | 292 |
| Lease liability, net | -31 | -63 | -38 | 14 |
| Net cash used in operating activities | -17,691 | -14,246 | -16,365 | -20,847 |
| Purchase of investments | NaN | 19,099 | 23,761 | 70,860 |
| Maturities of investments | NaN | 21,500 | 10,500 | NaN |
| Cash assumed from almatabio transaction | NaN | 0 | 0 | 0 |
| Sales and maturities of investments | 25,505 | NaN | NaN | NaN |
| Net cash provided by investing activities | 25,505 | 2,401 | -13,261 | -70,860 |
| Proceeds from sale of common stock pursuant to atm program | NaN | 14,762 | NaN | NaN |
| Transaction costs paid pursuant to atm program | NaN | 462 | NaN | NaN |
| Proceeds from exercise of stock options | 2,178 | 774 | NaN | NaN |
| Proceeds from issuance of common stock under employee stock purchase plan, net of cash paid related to withholding shares to satisfy tax withholding obligations | NaN | -17 | 0 | 40 |
| Proceeds from private placement investment, gross | NaN | 0 | 0 | 0 |
| Proceeds from issuance of common stock pursuant to atm program, net | NaN | NaN | 14,370 | NaN |
| Cash paid related to withholding shares to satisfy rsu tax withholding obligations | 779 | 0 | 1 | 509 |
| Transaction costs paid pursuant to private placement | NaN | 0 | 0 | 0 |
| Proceeds from exercise of warrants issued in private placement, gross | NaN | 0 | NaN | NaN |
| Transaction costs paid upon exercise of warrants issued in private placement | NaN | 0 | NaN | NaN |
| Net cash provided by financing activities | 1,399 | 687 | 14,369 | -469 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 9,213 | -11,158 | -15,257 | -92,176 |
| Cash, cash equivalents, and restricted cash at beginning of period | 16,105 | 27,263 | 134,696 | NaN |
| Cash, cash equivalents, and restricted cash at end of period | 25,318 | 16,105 | 27,263 | NaN |
Avalo Therapeutics, Inc. (AVTX)
Avalo Therapeutics, Inc. (AVTX)