Public equity report: Avalo gets makeover with PIPE, acquisition

A PIPE refreshed Avalo’s balance sheet as it prepares to move forward a newly acquired program for an inflammatory skin disorder, while Stoke and Praxis priced public offerings that closely followed clinical catalysts.

In a single announcement late Wednesday, Avalo Therapeutics Inc. (NASDAQ:AVTX) said Commodore Capital and TCG X co-led a private placement of $115.6 million in stock plus $69.4 million in warrants, as the biotech concurrently acquired AlmataBio Inc. for $22.5 million in stock and cash...